© 2024 South Carolina Public Radio
Play Live Radio
Next Up:
0:00
0:00
0:00 0:00
Available On Air Stations

“Mom, Can I Borrow $10,000?”

There are times in most of our lives when borrowing money becomes a necessity.  And sometimes, that may mean borrowing from our parents or another relative.  Lending money to family members can create an uncomfortable situation and our next guest says that it also creates a whole new layer of obligations and implications for all involved.

Mike Switzer interviews Paul Bolen, a certified financial planner with Cornerstone Financial Strategies in Summerville, SC.

Stay Connected
After almost 20 years, Mike Switzer retired from Wells Fargo Securities in 2001 as Senior Vice President/Investment Officer and Certified Portfolio Manager. In 1999, he and his wife, Maggie, purchased and operated for eight years the Baskin Robbins ice cream store on Forest Drive in Columbia. They grew the store from a bottom-tier operation in the Baskin Robbins franchise system to one in the top 5% nationwide within three years, tripling sales along the way. While operating the ice cream store, Mike and Maggie received patents for a portable ice cream sink and fold-down sneezeguard they invented and in 2002 started Magnolia Carts, an ice cream cart manufacturing company, which they sold in 2013.