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Help! Re The Share Market College

Hi all, this is my first post. After 40 years of hard work and saving, my 60 year old in laws found themselves out of work. To their name they had around $500k of assets and their super fund. They decided to buy a business for $230k, and found one advertised that looked good on paper. 1 year on the business turned out to be a horrible disaster, and in paying off debts they have lost all their money and possessions.

All they have left is a modest super fund. In their search for options, they came across the share market college who have promised to help them trade their money in a self managed super fund?

When they told me, and mentioned that the sales person had given them the impression that it was the norm to get a 34% return per year! alarm bells started ringing. Like them I am clueless about investing, and can offer no advice to them. However I believe that I am possibly a bit less trusting than them, and am terrified of the consequences of them gambling away their last bit of security. If anybody has any experience with this college, or general advice I would be very grateful.

<blockquote data-quote="fractus" data-source="post: 830021" data-attributes="member: 59787">Help! Re The Share Market CollegeHi all, this is my first post. After 40 years of hard work and saving, my 60 year old in laws found themselves out of work. To their name they had around $500k of assets and their super fund. They decided to buy a business for $230k, and found one advertised that looked good on paper. 1 year on the business turned out to be a horrible disaster, and in paying off debts they have lost all their money and possessions.All they have left is a modest super fund. In their search for options, they came across the share market college who have promised to help them trade their money in a self managed super fund? When they told me, and mentioned that the sales person had given them the impression that it was the norm to get a 34% return per year! alarm bells started ringing. Like them I am clueless about investing, and can offer no advice to them. However I believe that I am possibly a bit less trusting than them, and am terrified of the consequences of them gambling away their last bit of security. If anybody has any experience with this college, or general advice I would be very grateful.</blockquote>

[QUOTE="fractus, post: 830021, member: 59787"] [b]Help! Re The Share Market College[/b] Hi all, this is my first post. After 40 years of hard work and saving, my 60 year old in laws found themselves out of work. To their name they had around $500k of assets and their super fund. They decided to buy a business for $230k, and found one advertised that looked good on paper. 1 year on the business turned out to be a horrible disaster, and in paying off debts they have lost all their money and possessions. All they have left is a modest super fund. In their search for options, they came across the share market college who have promised to help them trade their money in a self managed super fund? When they told me, and mentioned that the sales person had given them the impression that it was the norm to get a 34% return per year! alarm bells started ringing. Like them I am clueless about investing, and can offer no advice to them. However I believe that I am possibly a bit less trusting than them, and am terrified of the consequences of them gambling away their last bit of security. If anybody has any experience with this college, or general advice I would be very grateful. [/QUOTE]

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