Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
It's been a year
Old 11-05-2007, 08:00 AM   #1
Full time employment: Posting here.
My Dream's Avatar
 
Join Date: Sep 2006
Location: Ontario, Canada
Posts: 829
It's been a year

Well, I have to say it was nothing like I thought it would be, but that was mainly due to my procrastination and little struggle with depression.

Financially:
One of my objectives was to transfer 60% of my portfolio out of Investors Group since we felt the fees were too high and our return was far to low. Well we never did it since we didn't know where to put it. For the first 3 quarters (ending Oct 1) we had earned .8%. Talk about disappointment, it was a fair drop from the previous quarter. Due to this wake up call and the fact that we just don't have knowledge to do our own investing we decided to go with a new Financial Advisor from TD Waterhouse which will charge us .9% per year. They will manage 85% or our portfolio and I will manage the rest in an attempt to motivate as well as educate myself into trying to figure out this whole investment world. My neighbor who retired early has given me great advice and shown me great returns.

On the personal side:
I've tried reading several books such as the 4 Pillars, Stop Working, Rich is a state of mind. The only book I had to put down was 4 pillars since I couldn't grasp it all. I will try again during the winter months but I know I'll still put it down several times.
I managed to complete 50% of my to do list, much less than I had hoped for. Didn't take a vacation with my family. Pinched pennies which reminded me of when I was first married over 22 years ago. I've put on about 20 pounds. I had the opportunity to get to know my kids better which was both good and bad, since I have an 18 year old who thinks, he knows and wants all. I've never gotten along better with my 12 year old and my wife and I have.................well let's say we still agree it was the right choice for me to retire early although we have gotten into a routine. The only worry she has now is financially which l can feel every day, although she won't tell me.

Objectives for the next year:
Complete the IG-TD Waterhouse transfer.
Increase the rate of return on our portfolio to a point where there is money left over even after accounting for the rate of inflation.
Loose 25 pounds and get in better shape.
Educate myself more on the "world of investing".
Stop the routine and take a vacation with my family as well as spend more time alone with my DW.
Tackle approximately 90% of my to do list and stop procrastinating.
Change my mindset and stop worrying about our financial situation.
Stop whining!!!!


Wish me luck everyone.
__________________

__________________
My Dream is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 11-05-2007, 08:29 AM   #2
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Moemg's Avatar
 
Join Date: Jan 2007
Location: Sarasota,fl.
Posts: 10,031
Good Luck ,

It's also been a year for me and I have to say I also did not accomplish all the things I thought I would but I'm on a roll now !
__________________

__________________
Moemg is offline   Reply With Quote
Old 11-05-2007, 09:31 AM   #3
Thinks s/he gets paid by the post
Coach's Avatar
 
Join Date: Nov 2005
Location: Colorado, USA
Posts: 1,127
Great post, My Dream! Thanks for letting us know how things are going. It sounds like a combination of good and bad, but your attitude sounds great. I hope the coming year is more of the good and less of the bad.

Best of luck to you! Keep in touch.

Coach
__________________
Coach is offline   Reply With Quote
Old 11-05-2007, 10:02 AM   #4
Moderator Emeritus
laurence's Avatar
 
Join Date: Feb 2005
Location: San Diego
Posts: 5,234
Don't be intimidated by false complexity! You can transfer all your funds to Vanguard, put it in a Target Retirement account, and be done, and be far better off. These people make their money making it seem more complex than it really is. You've worked very hard for your money, I want you to keep it!
__________________
laurence is offline   Reply With Quote
Old 11-05-2007, 12:09 PM   #5
Full time employment: Posting here.
jambo101's Avatar
 
Join Date: Oct 2007
Location: Montreal
Posts: 940
Invest in a bicycle and a fishing rod.
__________________
"Second star to the right and straight on till morning"
jambo101 is offline   Reply With Quote
Old 11-05-2007, 12:32 PM   #6
Full time employment: Posting here.
My Dream's Avatar
 
Join Date: Sep 2006
Location: Ontario, Canada
Posts: 829
Quote:
Originally Posted by Moemg View Post
I'm on a roll now !
Hopefully I can say that soon.

Quote:
Originally Posted by Coach View Post
I hope the coming year is more of the good and less of the bad.
Coach
I think that will depend greatly on how well we do with our portfolio.

Quote:
Originally Posted by laurencewill View Post
You can transfer all your funds to Vanguard, put it in a Target Retirement account, and be done, and be far better off.
I always thought Vanguard was for US residence, not for Canadian.?

Quote:
Originally Posted by laurencewill View Post
These people make their money making it seem more complex than it really is.
We've been with 3 different advisors/planners in the last 10 years. Nobody we trust will recomend one since they are in the same position as we are. We simply don't trust FA anymore. I guess it's a matter of who do you trust the most. I'm still hesitating on transfering over to TDW, but I have to keep learning, hopefully not by my mistakes.

Quote:
Originally Posted by jambo101 View Post
Invest in a bicycle and a fishing rod.
I already have those items but feel I must get my (as well as my families) life back in order before I take advantage of those luxuries.
__________________
My Dream is offline   Reply With Quote
Old 11-05-2007, 05:23 PM   #7
Confused about dryer sheets
CaptSJD's Avatar
 
Join Date: Nov 2007
Location: Thousand Oaks
Posts: 3
Vanguard, Vanguard Vanguard, Vanguard. You get the idea. Try visiting the Boglehead forum.

Scott
__________________
CaptSJD is offline   Reply With Quote
Old 11-08-2007, 02:01 PM   #8
Full time employment: Posting here.
My Dream's Avatar
 
Join Date: Sep 2006
Location: Ontario, Canada
Posts: 829
Since I've posted last, we've had several meetings with TD Waterhouse. Once again they seem to talk circles around us so we decided to talk to another adviser, planner, well we understood her better but based on our portfolio, she recommended a Private Investment Counsel. After another meeting with them and about 100 questions, I felt a lot more informed and decided maybe we should hand over 1M of our portfolio, (our life's savings). I've also joined another forum (recomended from a member here) which deals with a lot of investment advice catered more to the Canadian Market. Well that isn't going well since one person is contradicting another and even though I'm very clear that I'm a newbie, there jargon is so frequent, that I need a listing of common acronyms just to get through every sentence.
Guys..........gals.......I'm so frustrated that I cancelled our next meeting with TD Waterhouse and really don't know what to do.

I know that nobody can tell me what route to take, but how do you decide which advice is correct. One person tells you it's this way, and the other is saying that info is incorrect and they suggest going with TDW. It's back and forth advice.

HELP!
__________________
Newbie
My Dream is offline   Reply With Quote
Old 11-08-2007, 02:20 PM   #9
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Moemg's Avatar
 
Join Date: Jan 2007
Location: Sarasota,fl.
Posts: 10,031
Quote:
Originally Posted by My Dream View Post
Since I've posted last, we've had several meetings with TD Waterhouse. Once again they seem to talk circles around us so we decided to talk to another adviser, planner, well we understood her better but based on our portfolio, she recommended a Private Investment Counsel. After another meeting with them and about 100 questions, I felt a lot more informed and decided maybe we should hand over 1M of our portfolio, (our life's savings). I've also joined another forum (recomended from a member here) which deals with a lot of investment advice catered more to the Canadian Market. Well that isn't going well since one person is contradicting another and even though I'm very clear that I'm a newbie, there jargon is so frequent, that I need a listing of common acronyms just to get through every sentence.
Guys..........gals.......I'm so frustrated that I cancelled our next meeting with TD Waterhouse and really don't know what to do.

I know that nobody can tell me what route to take, but how do you decide which advice is correct. One person tells you it's this way, and the other is saying that info is incorrect and they suggest going with TDW. It's back and forth advice.

HELP!

I think you need to get some real basic investment books .I'm talking Investing for dummies (not that you are one ) or Financial Planning for the utterly confused . This will help you learn the basics so you don't get taken by some ruthless broker .Also you can get a lot of knowledge at Vanguard's web site .
__________________
Moemg is offline   Reply With Quote
Old 11-08-2007, 02:45 PM   #10
Full time employment: Posting here.
My Dream's Avatar
 
Join Date: Sep 2006
Location: Ontario, Canada
Posts: 829
I appreciate your suggestion Moemg, I've read books, although I haven't absorbed as much as I would have liked to. I'm not knowledgable enough at this point in my life to do my own investing. As I mentioned in my first post, we've earned less then 1% up untill the end of September with one of the largest Investment companies in Canada, IG. I was better off putting it in a GIC. They are making more money then I am. I need to find another financial institution that I can trust to look after our money untill I become more experienced in managing our money. Our experience with FA, has been very poor to say the least.

I appologise if I seem frustrated but I've lost so much over the last 10 years with 3 advisors I can't seem to find one, or even an institution that I can trust or be willing to disclose all the details.

By the way, I took a look at Vanguards web site and to be honest, I didn't even know where to start reading, that's how unknowledgable I am.
__________________

__________________
Newbie
My Dream is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
One Year On Here??? FinanceDude Other topics 11 08-03-2007 01:44 PM
55 year old Texan will retire within the next year russingr Hi, I am... 7 05-25-2007 09:40 AM
When within a year... Rich_by_the_Bay FIRECalc support 4 01-20-2007 06:31 AM
Your TOTAL % return so far this year and last year. modhatter FIRE and Money 49 10-19-2006 05:03 AM
44 year old woman takes advantage of 13 year old boy Dawg52 Other topics 37 05-25-2006 12:15 AM

 

 
All times are GMT -6. The time now is 01:27 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.