Family Pot

>>1442655
Pottery
Sure, thousands of years of heritage
Mud

>>1442655
how do you decide who can withdraw money and why

if the goal is to transfer money to less fortunate family members, why not set up a trust for everyone

You'll probably want to invest in a kiln as well. Fairly capital intensive so maybe see if you can use someone else's if your only making one pot.

>>1442668
You can withdraw at any point in relation to the percentage that you put in.

>>1442673
then why not just invest on your own?

>you put in x %
>you can withdraw only x %
>you only earn x % of all profits
sure sounds like how I normally invest

Most likely going to create more problems than it's worth. Just invest on your own. Not good to mix family and money

>>1442655
You haven't even told us why your families are doing this. To invest and grow wealth? To speculate and roll the dice? To conserve and protect assets? To assist in inter-generational transfers? For tax purposes?

If you're too stupid to ask the question correctly, how are you going to understand the answers?

>>1442676
Because we're a low middle class family and thought that building a large sum of money would produce larger returns faster. Also we don't know what to invest in, besides real estate.

>>1442681
That's why I asked if there's a name for this. I can't search it on the Internet without a name. We're doing this so we could help one either, hoping that a large investment will give us a large return. We know nothing of business, so I guess you could say we're also "rolling".

>>1442682
real estate is a good example of what to pool your money for, but with 16+ people, you're looking at problems with deciding what to buy, when to buy, when to sell, who to rent to, etc.

if you guys could buy a giant apartment complex or something it could be cool.

I would advise against doing this because of the number of people involved. It seems stupid and unnecessary and will likely lead to less gains than you would all make on your own following an intelligent investing plan. It's hard enough to work with 1 partner, let alone 15.

>inb4 we'll vote
>inb4 the votes will be weighted for stake
it won't matter
people will get bitter and want out
or people will make mistakes and you'll lose money

>>1442685
lol
"We know nothing of business"
this whole thread is top kek

dude just work, contribute to 401k & IRA, buy etfs, invest in real estate on your own.

if you're dead set on following the "Fail together!" plan, look into building an apartment complex somewhere.

>>1442692
The money wouldn't be our entire income. Would only put what we can, what we're willing to part. Do you know what this is called?

>>1442685
What you're asking about is simply co-investing. When my family co-invests we typically create LLCs or LLPs to handle the taxes and money flow.

http://beginnersinvest.about.com/od/holdingmethods/tp/Limited-Liability-Companies-LLC-Guide.htm

Having the right name isn't going to make it successful, however. You damn well better come up with better ground rules than "rolling" and allowing people to withdraw their money whenever they want. That's not how it works, assuming you actually want to make some wealth.

>>1442700
Agreed, thank you.

>>1442655

So basically a hedge fund?

Not really. Even if the investment is successful, the winnings are still gonna be split amongst the winners. So why wouldn't each person just invest individually? Each person could invest in Vanguard funds and get about 7% a year.

>>1442728
There are ancillary benefits to this kind of arrangement--which is why old money has been doing it (and reaping compounding benefits) for generations.
>access to investments that would otherwise have too much risk, or too high of a barrier to entry for an individual
>political suction and social status in the community (which leads to more money)
>cushy jobs for family members who aren't good for much else (managing properties and the like)

But I have a hard time imagining how it would work without a strong patriarch and a shrewd, loyal core of investors. I'd be afraid that somebody would get their first whiff of real money, get greedy, and tank the whole thing. Or a few people would lose their heads at the first sign of trouble and start making irrational decisions that hurt the organization.

>>1442655
Good fucking god no.

If even one of them is untrustworthy, they take your money and dissapear.