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Old 08-09-2011, 02:29 PM   #41
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Very cool! I met a guy this weekend who retired, starting riding a bike again and lost 60 or 70 pounds in 1.5 years.

If you guys really like cycling, check into some of the week long organized rides. BRAG (Georgia) is my favorite. Florida has one. Virginia, NC and Tennessee each have one. The granddaddy is RAGBRAI (Iowa). It is really fun to spend a week doing nothing but riding, eating and sleeping with a thousand or more like minded souls, moving from one small town to the next. My goal when I hit ER, or relatively so since I'm older than you, is to ride a couple of those a year. Unfortunately, my wife isn't into cycling, so I probably won't be doing a century in every state!

Good inspiration!
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Old 08-09-2011, 02:42 PM   #42
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Originally Posted by 67walkon View Post
Very cool! I met a guy this weekend who retired, starting riding a bike again and lost 60 or 70 pounds in 1.5 years.

If you guys really like cycling, check into some of the week long organized rides. BRAG (Georgia) is my favorite. Florida has one. Virginia, NC and Tennessee each have one. The granddaddy is RAGBRAI (Iowa). It is really fun to spend a week doing nothing but riding, eating and sleeping with a thousand or more like minded souls, moving from one small town to the next. My goal when I hit ER, or relatively so since I'm older than you, is to ride a couple of those a year. Unfortunately, my wife isn't into cycling, so I probably won't be doing a century in every state!

Good inspiration!
I've never heard of week long rides but that sounds like a blast! I'm in the process of transitioning from spinning (just for exercise) to riding for real. There are lots of muscles I never knew I had after last weekend's ride....so it may be a bit before I'm ready for a full week.
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Old 08-09-2011, 08:58 PM   #43
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I've sure had lousy luck, even when advice was sought. Someone made the decision to go with the current FA, and I've found that this person shoots the messenger.
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Even when you can make a good case (with real numbers, etc)?
That's a tough situation. If you get only a grudging OK for a DIY approach and there's any adverse result (whether or not the FA would have prevented it) you can be in a bad spot.
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Right. There seems to be no real upside, unless it is someone that you really care about.

Some time ago I posted about nephew paying over 3 percent ER in a 403(b) - still there as far as I know.
Well, A few people that I 'really care about' are looking to retire. I've heard some talk about their 'financial adviser said they could'. I'm concerned.

Last time we were together, the opportunity never presented itself for me to delicately approach this. Since then, I've been preparing my little talk.

So I practice in my head while doing the mindless task of cutting the lawn. I've got it down to 3 bite size chunks:

1) In one minute, based on the collective information of hundreds (thousands?) of successively retired people, I can tell you the basics of how to manage your retirement investments yourself. Give me another five if you want more detailed background info.

2) In one more minute, I can explain how much you can spend and provide a high confidence level that you will outlive your portfolio. Give me another five if you want more detailed background info.

3) In one more minute, I can explain why relying on an outside adviser is most likely the most dangerous approach you can take with your retirement portfolio. Give me another five if you want more detailed background info.

If they can't listen to the advice of successfully retired people (walking the walk) presented in three, one-minute chunks, there's no hope for them.

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Old 08-09-2011, 10:51 PM   #44
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1) In one minute, based on the collective information of hundreds (thousands?) of successively retired people, I can tell you the basics of how to manage your retirement investments yourself. Give me another five if you want more detailed background info.

2) In one more minute, I can explain how much you can spend and provide a high confidence level that you will outlive your portfolio. Give me another five if you want more detailed background info.

3) In one more minute, I can explain why relying on an outside adviser is most likely the most dangerous approach you can take with your retirement portfolio. Give me another five if you want more detailed background info.

If they can't listen to the advice of successfully retired people (walking the walk) presented in three, one-minute chunks, there's no hope for them.

-ERD50
What a great approach. If I had to do it over again. I sure try this way with my friend, (I was partly successful with my sister.)

You know one of the things working against me was I wasn't "a professional". My friend's brother argued against me, (we met once decades ago) saying stay with Amerprise cause this guy that goes to Vegas all the time. I said no you should listen to me partly cause I have an MBA which more than your FA has. But mostly cause I've been retired for 10 years and have been investing for 30 years.

I think what this forum needs to give out certificates so we can have a fancy initials behind our name when we dispenses financial advice. (My apologizes to the folks with CFPs, CPAs, and CFAs). Something like a Certified Wise Money Guy/Gal, from the Early Retirement Institute.
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Old 08-10-2011, 09:58 AM   #45
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I think what this forum needs to give out certificates so we can have a fancy initials behind our name when we dispenses financial advice. (My apologizes to the folks with CFPs, CPAs, and CFAs). Something like a Certified Wise Money Guy/Gal, from the Early Retirement Institute.
Don't worry Clif, I could probably give you a couple of fancy initials behind your name anytime... just guess which ones
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Old 08-10-2011, 03:28 PM   #46
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I think what this forum needs to give out certificates so we can have a fancy initials behind our name when we dispenses financial advice. (My apologizes to the folks with CFPs, CPAs, and CFAs). Something like a Certified Wise Money Guy/Gal, from the Early Retirement Institute.
That'd get just about as much respect as signing my name with LCDR USN RET...
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Old 08-10-2011, 03:32 PM   #47
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That'd get just about as much respect as signing my name with LCDR USN RET...
I'm opting for CAPT USAF RESIGNED
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Old 08-12-2011, 07:28 PM   #48
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Frankly, most folks on here wouldn't pay for an advisor that offers DFA. I have a relationship with a DFA advisor and refer business to him, but I share in a percentage of the management fee......

I do recall an impassioned post or two from nun that was chastising DFA for not selling to the VG/Fido crowd, but they have no plans to do it in the foreseeable future, and their growth in assets seems to speak that their business model is working, since they manage $160 billion or so.......
Everything I've seen from DFA Funds (both raw performance and risk-adjusted) is seriously badass. I would have no problem sending a friend or family member to their platform even for a marginal wrap fee.

I've met a couple guys who work for RIA's heavy into DFA, and I will say the guys seemed a little bit cultish but definitely smart guys. Probably no more cultish than the VG / Fido guys.

DFA's premise is their unwillingness to sell direct to avoid retail investors greed and panic hurting their performance. Great business model to turn down short term asset in-flows for long term performance and dedication of your investors. Very few fund families are doing that anymore.

And if people get mad about it, ask yourself this: Why would DFA sell their funds retail to a guy doing online trading sitting behind his computer munching cheetos who is consistently subject to greed and panic? Why would they allow diminishing returns for their largely accredited investor clientelle simply to serve retail investors who will jump on the next big thing?

Strategy seems to have worked out for them so far...
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Old 08-12-2011, 07:47 PM   #49
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I considered using DFA, and some bogleheads use them and more would use them if they didn't require going through a DFA approved broker (and thus adding to costs). Their ER fees aren't bad at all. Alan Roth wrote an article about comparing Vanguard vs DFA and which was better. The bottom line was "it depends" and "who knows going forward" DFA vs. Vanguard - Which is better? - CBS MoneyWatch.com.

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Old 08-12-2011, 08:23 PM   #50
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I considered using DFA, and some bogleheads use them and more would use them if they didn't require going through a DFA approved broker (and thus adding to costs). Their ER fees aren't bad at all. Alan Roth wrote an article about comparing Vanguard vs DFA and which was better. The bottom line was "it depends" and "who knows going forward" DFA vs. Vanguard - Which is better? - CBS MoneyWatch.com.

DD
Vanguard and DFA aren't competitors. It's a completely different level. DFA wouldnt' want 95% of Vanguard's clientelle.
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Old 08-12-2011, 08:24 PM   #51
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Any way you cut it, Ameriprise is expensive compared to Vanguard. Years, ago, I was with a bank and asked that they choose from and build my investment account with "no load"funds. We'll, I didn't get any front loaded funds but no one told me the expense ratio nor about the 5% back end fee when I sold some of the funds.

After a couple years of losing money, compared to a total market index fund, and getting monthly advice on what to sell and buy, churning my investment way too often, I started looking at fund choices other than my trusted banker. I found Vanguard. Now I too pay no more than .20% fees and have made money most years. I'm getting older so I've put more money in bonds, they are doing well and I am so far ahead of where I would have been without Vanguard. I also have some money in Fidelity, they are "reasonable" as well and I still haven't forgiven my trusted banker but I do need them for various other accounts.

So, everyone can argue about who's right or wrong on the fees mentioned above, but no one can argue that Vanguard fees are less than most of the high priced guys.

Fun listening to all of you, however. I do wonder, if it is an Ameriprise rep defending them in some of the postings, above? Hmmmmm.
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Old 08-12-2011, 08:34 PM   #52
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DFA's premise is their unwillingness to sell direct to avoid retail investors greed and panic hurting their performance.
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Vanguard and DFA aren't competitors. It's a completely different level. DFA wouldnt' want 95% of Vanguard's clientelle.
We They don't seem to be all that bad...

Quote:
...during the turbulent first eight trading days of August, barely 2% of the more than 3 million participants in 401(k) plans administered by Vanguard executed any sort of equity trade.
Quote:
History also suggests that most participants who do trade aren't "cashing out" of the market.

Vanguard research from the 2008-09 financial crisis shows that in volatile markets, most traders tend to make a modest shift away from stocks, while some actually increase their stock exposure. The impulse to panic and sell everything is muted. In fact, throughout the 2007-2010 period, just 3% of Vanguard 401(k) participants sold out of the equity market entirely.
https://personal.vanguard.com/us/ins...RSS&Channel=AN
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Old 08-12-2011, 09:26 PM   #53
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Very cool! I met a guy this weekend who retired, starting riding a bike again and lost 60 or 70 pounds in 1.5 years.

If you guys really like cycling, check into some of the week long organized rides. BRAG (Georgia) is my favorite. Florida has one. Virginia, NC and Tennessee each have one. The granddaddy is RAGBRAI (Iowa). It is really fun to spend a week doing nothing but riding, eating and sleeping with a thousand or more like minded souls, moving from one small town to the next. My goal when I hit ER, or relatively so since I'm older than you, is to ride a couple of those a year. Unfortunately, my wife isn't into cycling, so I probably won't be doing a century in every state!

Good inspiration!
I did the Buffalo to Albany ride a few weeks ago, 400 miles. Before this year I never rode more than 10 miles at once and I did every single mile. Many were moving on to Bon Ton (finger lakes in NY), a few to Ragbrai and other rides. Some of the riders had gone across the country (3 month trip) more than once. on our trip the youngest rider was 6 (on he back of her dads bicycle) and the oldest rider was 89. What surprised me was how many people did it alone. They weren't alone for long. We had 550 riders and 100 staff and volunteers on our jaunt. Just don't be a cheapskate on the bike, a good bike with a good seat makes a difference.

back on the topic, I never trust anyone that has to make a living selling me stuff. I can never be sure it is in my best interest. Doing research is so important to understand the fine print. We have a friend who was sold a very expensive annuity as well as some risky gas lease stuff and deeply regrets it, especially when he goes to work every day when he could be retired.
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Old 08-12-2011, 09:29 PM   #54
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Lisa99,

It's certainly encouraging to see you making progress on the financial and health fronts. DW and I think we have the financial under control (as much as that's possible) and health is okay now but we need to stay in shape. Your progress encourages us to continue doing the right things.

As for Ameriprise... I don't know much about them except that we have an acquantance who works as an assistant in a local office. With that relationship, DW took a part time job as an assistant - the extra money looked good and it was three days a week which worked well in our schedule.

I should make another thread for this discussion but the short story is Ameriprise was less than a stellar employer. DW's situation is likely more of a reflection on the broker/dealer/manager she worked for but if he/she acts this way it's difficult to believe much of Ameriprise does not act this way. In addition, a significant portion of the investor pamphlet given to prospective clients is devoted to the fees/commissions/payments - very little was dedicated to the services they perform.
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Old 08-12-2011, 10:11 PM   #55
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Vanguard and DFA aren't competitors. It's a completely different level. DFA wouldnt' want 95% of Vanguard's clientelle.
Shall I forward this to DFA and see what their response is. I'm sure many of Vanguards customers dollars look the same as their current clients.

DD
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Old 10-12-2011, 10:33 AM   #56
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What a woman!

Lisa,
It is refreshing to see the interest that you have developed in your life, retirement, and the investments. You are obviously a woman that any man should be proud, it looks like you have a wonderful life ahead.

Go for it! Just don't wait to long..........
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Old 10-12-2011, 10:56 AM   #57
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Shall I forward this to DFA and see what their response is. I'm sure many of Vanguards customers dollars look the same as their current clients.

DD
DFA recommends their advisors set investment limits, typically $250,000 or higher. While most on here would qualify, in the large expanse of VG clients, the above post is probably accurate......

DFA is not after accounts under $100K, and that's probably on the low end.
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Old 10-12-2011, 12:09 PM   #58
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Lisa,
It is refreshing to see the interest that you have developed in your life, retirement, and the investments. You are obviously a woman that any man should be proud, it looks like you have a wonderful life ahead.

Go for it! Just don't wait to long..........
Thanks Dogman! We aren't waiting at all.
Since posting my update we've lost another combined total of 25 pounds and just rode in our first Century bike race weekend before last. We have another one Nov 12 in CA. I've also gotten interested in triathalons and am starting a swimming program so I don't drown during the swim leg!

We also recently bought an RV and have planned several trips in the next few months...all related to cycling or hiking.

Overall we're having the time of our lives. Yes, we still work, but the jobs are enjoyable and we are able to put away my entire paycheck so it's all good there.
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Old 10-12-2011, 06:11 PM   #59
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Nice to read your story, Lisa. I too was helped away from Ameriprise a few years ago by some of the good folks here @ ER.org and am grateful for it.
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Old 10-12-2011, 07:07 PM   #60
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Lisa - Thanks for sharing.
Biking is a great way to exercise
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