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I've been thinking about starting a family investment club - my husband and me plus our 3 kids and two of their spouses.  It would be 3 to 7 adults - at least to start.  Most with no investing experience except their work 401Ks.  I have been involved in investment clubs for going on 20 yrs - treasurer of current club for 8 yrs. 

Can anyone who's done this tell me some of the details about how yours works?  Any advice?  How formal or informal should it be?  I can't picture how to do it without bivio.  

Thanks,
Kim Potter

Kim our family club has existed for more than twenty-one years. At first it was with my wife,two teenage daughters and myself. I had been a BI member a few years and had started a club that lasted eleven years before breaking up. It wasn't easy as the family did not enthusiastically participate all the time, but we hung on and I admit I did a lot of the work to keep us going even made their payments for them until the grandchildren came along. Our monthly payments have always been $20 per month per person and still is. They are more involved now that we've passed the $100,000 mark with our portfolio. My whole purpose to start with is to teach them BetterInvesting methodology. Of the two girls, one is more active than the other. Her work and social life keeps her busy and the other daughter, who is married with three children is much more involved. The oldest is VP of cybersecurity for a national business in the Denver area. I'm hoping her husband and step-child will someday join us. The youngest daughter's husband just joined us last year. The grandkids are getting old enough to participate too. I've been making payments for each of them since the day they were born and will continue untill they start paying for themselves.. We have eight members in the club now. If you have any experience with another cub just set up your family investment club as you would all the others. Create your partnership agreement, open your bank and broker accounts and have monthly meeting with an agenda. Elect officers, keep records of minutes and accounting. Do your end of year audits, pay your taxes. Education should be your main focus to begin with and always a part of your meetings. We do our meetings online as we are scattered from east to west in the United States. It has not always been easy for me and I admit I was close to giving up at one time, but they started showing more efforts to do their part so we continued. I'm thinking this could be a great legacy to leave with them when I'm gone, at 72 years old you can't help but think of these thing. Good luck.

On Sun, Jan 17, 2021 at 1:43 PM Mike & Kim Potter via bivio.com <user*22890200001@bivio.com> wrote:
I've been thinking about starting a family investment club - my husband and me plus our 3 kids and two of their spouses. It would be 3 to 7 adults - at least to start. Most with no investing experience except their work 401Ks. I have been involved in investment clubs for going on 20 yrs - treasurer of current club for 8 yrs.

Can anyone who's done this tell me some of the details about how yours works? Any advice? How formal or informal should it be? I can't picture how to do it without bivio.

Thanks,
Kim Potter



--
Frank Wilson
850 723-4194


Frank,

Thank you for sharing your family club experiences with us.  We just started one a year ago.  I've been in a club with friends and associates for about 20 years.  We westled with admiting minors.  How did you set up your club members who were minors, was someone listed as their guardian for tax reporting purposes?  How about their transition into adulthood?

--Dan W.

On Sunday, January 17, 2021, 03:05:29 PM CST, Frank Wilson via bivio.com <user*3997100001@bivio.com> wrote:


Kim our family club has existed for more than twenty-one years.   At first it was with my wife,two teenage daughters and myself.  I had been a BI member a few years and had started a club that lasted eleven years before breaking up.  It wasn't easy as the family did not enthusiastically participate all the time, but we hung on and I admit I did a lot of the work to keep us going even made their payments for them until the grandchildren came along.  Our monthly payments have always been $20 per month per person and still is.  They are more involved now that we've passed the $100,000 mark with our portfolio.  My whole purpose to start with is to teach them BetterInvesting methodology. Of the two girls, one is more active than the other.  Her work and social life keeps her busy and the other daughter, who is married with three children is much more involved.  The oldest is VP of cybersecurity for a national business in the Denver area. I'm hoping her husband and step-child will someday join us.  The youngest daughter's husband just joined us last year.  The grandkids are getting old enough to participate too. I've been making payments for each of them since the day they were born and will continue untill they start paying for themselves..  We have eight members in the club now.  If you have any experience with another cub just set up your family investment club as you would all the others.  Create your partnership agreement, open your bank and broker accounts and have monthly meeting with an agenda.  Elect officers, keep records of minutes and accounting.  Do your end of year audits, pay your taxes.  Education should be your main focus to begin with and always a part of your meetings.  We do our meetings online as we are scattered from east to west in the United States.  It has not always been easy for me and I admit I was close to giving up at one time, but they started showing more efforts to do their part so we continued.  I'm thinking this could be a great legacy to leave with them when I'm gone, at 72 years old you can't help but think of these thing.  Good luck.

On Sun, Jan 17, 2021 at 1:43 PM Mike & Kim Potter via bivio.com <user*22890200001@bivio.com> wrote:
I've been thinking about starting a family investment club - my husband and me plus our 3 kids and two of their spouses.  It would be 3 to 7 adults - at least to start.  Most with no investing experience except their work 401Ks.  I have been involved in investment clubs for going on 20 yrs - treasurer of current club for 8 yrs. 

Can anyone who's done this tell me some of the details about how yours works?  Any advice?  How formal or informal should it be?  I can't picture how to do it without bivio.  

Thanks,
Kim Potter



--
Frank Wilson
850 723-4194


We have minors in my club so we have them set up with a custodian. Here is what we use to sign them up. Our caveat is that the custodian must also be a member of our club. That member has an additional vote for each custodial account that they are responsible for. For example, in my club my minor son and daughter are partners. My vote counts as three.

ADDENDUM TO THE ABODI INVESTMENT CLUB PARTNERSHIP AGREEMENT

(UTMA)

By signing this addendum, [NAME] is accepted as a partner in the ABODI Investment Club with all the rights and privileges thereof. [NAME] has received and read the Partnership Agreement and the Operational Procedures document and agrees to abide by all the rules outlined in those documents. [NAME] understands his/her rights and obligations.

[NAME] is accepted under the UTMA with [NAME] as custodian.


_______________________________________

Minor's Legal Name

________________________________________ __________________

Custodian Signature: Date

______________________________________________________________________________

Address

SSN:______-____-______

Email address to receive all correspondence: _________________________________________


On Sun, Jan 17, 2021 at 1:45 PM Daniel Williams via bivio.com <user*33673100001@bivio.com> wrote:
Frank,

Thank you for sharing your family club experiences with us. We just started one a year ago. I've been in a club with friends and associates for about 20 years. We westled with admiting minors. How did you set up your club members who were minors, was someone listed as their guardian for tax reporting purposes? How about their transition into adulthood?

--Dan W.

On Sunday, January 17, 2021, 03:05:29 PM CST, Frank Wilson via bivio.com <user*3997100001@bivio.com> wrote:


Kim our family club has existed for more than twenty-one years. At first it was with my wife,two teenage daughters and myself. I had been a BI member a few years and had started a club that lasted eleven years before breaking up. It wasn't easy as the family did not enthusiastically participate all the time, but we hung on and I admit I did a lot of the work to keep us going even made their payments for them until the grandchildren came along. Our monthly payments have always been $20 per month per person and still is. They are more involved now that we've passed the $100,000 mark with our portfolio. My whole purpose to start with is to teach them BetterInvesting methodology. Of the two girls, one is more active than the other. Her work and social life keeps her busy and the other daughter, who is married with three children is much more involved. The oldest is VP of cybersecurity for a national business in the Denver area. I'm hoping her husband and step-child will someday join us. The youngest daughter's husband just joined us last year. The grandkids are getting old enough to participate too. I've been making payments for each of them since the day they were born and will continue untill they start paying for themselves.. We have eight members in the club now. If you have any experience with another cub just set up your family investment club as you would all the others. Create your partnership agreement, open your bank and broker accounts and have monthly meeting with an agenda. Elect officers, keep records of minutes and accounting. Do your end of year audits, pay your taxes. Education should be your main focus to begin with and always a part of your meetings. We do our meetings online as we are scattered from east to west in the United States. It has not always been easy for me and I admit I was close to giving up at one time, but they started showing more efforts to do their part so we continued. I'm thinking this could be a great legacy to leave with them when I'm gone, at 72 years old you can't help but think of these thing. Good luck.

On Sun, Jan 17, 2021 at 1:43 PM Mike & Kim Potter via bivio.com <user*22890200001@bivio.com> wrote:
I've been thinking about starting a family investment club - my husband and me plus our 3 kids and two of their spouses. It would be 3 to 7 adults - at least to start. Most with no investing experience except their work 401Ks. I have been involved in investment clubs for going on 20 yrs - treasurer of current club for 8 yrs.

Can anyone who's done this tell me some of the details about how yours works? Any advice? How formal or informal should it be? I can't picture how to do it without bivio.

Thanks,
Kim Potter



--
Frank Wilson
850 723-4194


Noted, thank you John.  (for introducing the correct term also!) 

On Sunday, January 17, 2021, 03:59:15 PM CST, John Rice via bivio.com <user*24380400001@bivio.com> wrote:


We have minors in my club so we have them set up with a custodian. Here is what we use to sign them up. Our caveat is that the custodian must also be a member of our club. That member has an additional vote for each custodial account that they are responsible for. For example, in my club my minor son and daughter are partners. My vote counts as three.

ADDENDUM TO THE ABODI INVESTMENT CLUB PARTNERSHIP AGREEMENT

(UTMA)

 

 

 

 

By signing this addendum, [NAME] is accepted as a partner in the ABODI Investment Club with all the rights and privileges thereof.  [NAME] has received and read the Partnership Agreement and the Operational Procedures document and agrees to abide by all the rules outlined in those documents.  [NAME] understands his/her rights and obligations. 

 

[NAME] is accepted under the UTMA with [NAME] as custodian.


 

_______________________________________

Minor's Legal Name

 

 

________________________________________                                        __________________

Custodian Signature:                                                                                                   Date

 

 

______________________________________________________________________________    

Address

 

 

SSN:______-____-______

 

 

Email address to receive all correspondence: _________________________________________


On Sun, Jan 17, 2021 at 1:45 PM Daniel Williams via bivio.com <user*33673100001@bivio.com> wrote:
Frank,

Thank you for sharing your family club experiences with us.  We just started one a year ago.  I've been in a club with friends and associates for about 20 years.  We westled with admiting minors.  How did you set up your club members who were minors, was someone listed as their guardian for tax reporting purposes?  How about their transition into adulthood?

--Dan W.

On Sunday, January 17, 2021, 03:05:29 PM CST, Frank Wilson via bivio.com <user*3997100001@bivio.com> wrote:


Kim our family club has existed for more than twenty-one years.   At first it was with my wife,two teenage daughters and myself.  I had been a BI member a few years and had started a club that lasted eleven years before breaking up.  It wasn't easy as the family did not enthusiastically participate all the time, but we hung on and I admit I did a lot of the work to keep us going even made their payments for them until the grandchildren came along.  Our monthly payments have always been $20 per month per person and still is.  They are more involved now that we've passed the $100,000 mark with our portfolio.  My whole purpose to start with is to teach them BetterInvesting methodology. Of the two girls, one is more active than the other.  Her work and social life keeps her busy and the other daughter, who is married with three children is much more involved.  The oldest is VP of cybersecurity for a national business in the Denver area. I'm hoping her husband and step-child will someday join us.  The youngest daughter's husband just joined us last year.  The grandkids are getting old enough to participate too. I've been making payments for each of them since the day they were born and will continue untill they start paying for themselves..  We have eight members in the club now.  If you have any experience with another cub just set up your family investment club as you would all the others.  Create your partnership agreement, open your bank and broker accounts and have monthly meeting with an agenda.  Elect officers, keep records of minutes and accounting.  Do your end of year audits, pay your taxes.  Education should be your main focus to begin with and always a part of your meetings.  We do our meetings online as we are scattered from east to west in the United States.  It has not always been easy for me and I admit I was close to giving up at one time, but they started showing more efforts to do their part so we continued.  I'm thinking this could be a great legacy to leave with them when I'm gone, at 72 years old you can't help but think of these thing.  Good luck.

On Sun, Jan 17, 2021 at 1:43 PM Mike & Kim Potter via bivio.com <user*22890200001@bivio.com> wrote:
I've been thinking about starting a family investment club - my husband and me plus our 3 kids and two of their spouses.  It would be 3 to 7 adults - at least to start.  Most with no investing experience except their work 401Ks.  I have been involved in investment clubs for going on 20 yrs - treasurer of current club for 8 yrs. 

Can anyone who's done this tell me some of the details about how yours works?  Any advice?  How formal or informal should it be?  I can't picture how to do it without bivio.  

Thanks,
Kim Potter



--
Frank Wilson
850 723-4194


My non-family club allows custodial accounts, and we've had several over the years.  Our rule is that at age 18 they are automatically withdrawn unless they learn the BI methodology and are accepted as partners.  So far none have done this but that's ok.
 
Bob Mann
Lunch Money Investment Club
On 01/17/2021 7:26 PM Daniel Williams via bivio.com <user*33673100001@bivio.com> wrote:
 
 
 
Noted, thank you John.  (for introducing the correct term also!) 
 
On Sunday, January 17, 2021, 03:59:15 PM CST, John Rice via bivio.com <user*24380400001@bivio.com> wrote:
 
 
We have minors in my club so we have them set up with a custodian. Here is what we use to sign them up. Our caveat is that the custodian must also be a member of our club. That member has an additional vote for each custodial account that they are responsible for. For example, in my club my minor son and daughter are partners. My vote counts as three.
 

ADDENDUM TO THE ABODI INVESTMENT CLUB PARTNERSHIP AGREEMENT

(UTMA)

 

 

 

 

By signing this addendum, [NAME] is accepted as a partner in the ABODI Investment Club with all the rights and privileges thereof.  [NAME] has received and read the Partnership Agreement and the Operational Procedures document and agrees to abide by all the rules outlined in those documents.  [NAME] understands his/her rights and obligations. 

 

[NAME] is accepted under the UTMA with [NAME] as custodian.

 

 

_______________________________________

Minor's Legal Name

 

 

________________________________________                                        __________________

Custodian Signature:                                                                                                   Date

 

 

______________________________________________________________________________    

Address

 

 

SSN:______-____-______

 

 

Email address to receive all correspondence: _________________________________________


On Sun, Jan 17, 2021 at 1:45 PM Daniel Williams via bivio.com <user* 33673100001@bivio.com> wrote:
 
Frank,
 
Thank you for sharing your family club experiences with us.  We just started one a year ago.  I've been in a club with friends and associates for about 20 years.  We westled with admiting minors.  How did you set up your club members who were minors, was someone listed as their guardian for tax reporting purposes?  How about their transition into adulthood?
 
--Dan W.
 
On Sunday, January 17, 2021, 03:05:29 PM CST, Frank Wilson via bivio.com <user* 3997100001@bivio.com> wrote:
 
 
Kim our family club has existed for more than twenty-one years.   At first it was with my wife,two teenage daughters and myself.  I had been a BI member a few years and had started a club that lasted eleven years before breaking up.  It wasn't easy as the family did not enthusiastically participate all the time, but we hung on and I admit I did a lot of the work to keep us going even made their payments for them until the grandchildren came along.  Our monthly payments have always been $20 per month per person and still is.  They are more involved now that we've passed the $100,000 mark with our portfolio.  My whole purpose to start with is to teach them BetterInvesting methodology. Of the two girls, one is more active than the other.  Her work and social life keeps her busy and the other daughter, who is married with three children is much more involved.  The oldest is VP of cybersecurity for a national business in the Denver area. I'm hoping her husband and step-child will someday join us.  The youngest daughter's husband just joined us last year.  The grandkids are getting old enough to participate too. I've been making payments for each of them since the day they were born and will continue untill they start paying for themselves..  We have eight members in the club now.  If you have any experience with another cub just set up your family investment club as you would all the others.  Create your partnership agreement, open your bank and broker accounts and have monthly meeting with an agenda.  Elect officers, keep records of minutes and accounting.  Do your end of year audits, pay your taxes.  Education should be your main focus to begin with and always a part of your meetings.  We do our meetings online as we are scattered from east to west in the United States.  It has not always been easy for me and I admit I was close to giving up at one time, but they started showing more efforts to do their part so we continued.  I'm thinking this could be a great legacy to leave with them when I'm gone, at 72 years old you can't help but think of these thing.  Good luck.

On Sun, Jan 17, 2021 at 1:43 PM Mike & Kim Potter via bivio.com <user* 22890200001@bivio.com> wrote:
I've been thinking about starting a family investment club - my husband and me plus our 3 kids and two of their spouses.  It would be 3 to 7 adults - at least to start.  Most with no investing experience except their work 401Ks.  I have been involved in investment clubs for going on 20 yrs - treasurer of current club for 8 yrs. 
 
Can anyone who's done this tell me some of the details about how yours works?  Any advice?  How formal or informal should it be?  I can't picture how to do it without bivio.  
 
Thanks,
Kim Potter
 

 
--
Frank Wilson
850 723-4194