Losing a checkbook and realizing that a stranger is privy to personal financial details may be enough to rattle the nerves, but imagine freely revealing details of your family's income and expenditures to a monthly publication with a circulation of almost 1 1/2 million.
"I was more concerned about crank callers trying to sell me the Brooklyn Bridge," says Michael Foran, who gave Money magazine editors permission to run his family's financial profile in its October issue.
Although he did "worry about future relationships with friends and coworkers" after the article was published, the fallout has been minor, he says.
How did the magazine find them? After the couple inherited $80,000, a coworker in Foran's Crystal City office suggested he contact Mary Day at Derand Investment Corp., Arlington, for advice on purchasing bonds. Day later informed Foran that Money magazine had called the company looking for a married couple who had $50,000 to invest, were between the ages of 35-45 and had a yearly salary of $50,000 to $100,000.
For their participation in the article, the Forans received free advice from three financial planners selected by the magazine. At the time Foran was informed of their interest in his financial profile, he was considering getting opinions from other financial advisers.
"When the offer was made I decided to take them up on it and gamble with the repercussions," says Foran, who eventually went with the plan from Derand.
"Now, with the inheritance," he says, "the biggest problem is investing the money wisely and not blowing it."