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Originally Posted by dhsmith
We started investing with Whitaker about 8 years ago and have made a lot on money since then.Yes we bought GWG bonds back in 2017 and for about five years they were great and we made money. The last 18 months the gravey train stopped.So far we have not lost any money and won’t know what if any lost will occur until the Federal Bankruptcy Court rules on the recommendation of the committee.We may not lose any money and will receive repayment over several years hopefully that happens.
I’m 75 years old and listened to the sales pitch and I alone made the decision to invest $130000.00 over 5 years in GWG L Bonds.All investments aren’t home runs you hope they are but you have to take the good with the bad and hope it balances out in the end.
What I really dislike is people who won’t take responsibility for their actions and want to blame everyone else for the decisions that they have made, unfortunately this has become norm in the last 20 or 30 years to cry and wine when things don’t go as planned.
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Losing money is not a matter of your outlook on where your money went but a matter of it gone and may never be coming back. Yes, you did lose money, $130,000 less the few thousand you may have gotten back from the dividends over the years. The losses you are experiencing now may never be recovered. From what you have said, Michael L Whitaker and Associates did exactly what you instructed him to do. He invested your money in high-risk bonds and you lost. For most of the rest of us he did not act as a fiduciary and against our wishes put us in high-risk investments. This does make you wrong or us wrong it just makes Michael L Whitaker and Associates wrong.