For a minute there I thought it was astroturfing. And then I wondered if one of the Coopers is posting here.
The Cooper Network is a group of 80 financial consultants inside Smith Barney, headed by Andy Cooper in San Francisco, California, who specialize in retirement planning.
For example, these guys:
David P. Cooper - Eileen A. Murray, CFP® - Andrew Cooper IV 'Chip' - Smith Barney Financial Advisors - San Francisco, CA
... who for some reason also seem proud to have a Citi logo on their website.
I don't know squat about them, but here's a couple questions for you:
- Have you done the reading that was recommended in your other thread? The reason I'm asking is because when other posters have done the reading, they've asked questions about the reading. The posters who have not done the reading, however, have almost all asked questions like this one.
- The typical ER math question on financial advisers goes like this: "If my portfolio will only support a SWR of 4%, do I really want to give 1-2% of that to a financial advisor?" In other words, is the financial security so good that it's worth giving them 25-50% of your annual expenses? Your situation is different and your expenses may be less, but put it in terms of dollars to them divided by dollars you spend each year and ask yourself if it's worth it to you.
If you're going to hire someone to manage your money for you, eventually you're going to wonder if they're doing a good job. To determine the answer to that concern, you're either going to have to pay more money to someone else for their
opinion (which may or may not be worth what you pay for it), or you're going to have to educate yourself enough to answer your own questions about their performance. By the time you know enough to determine if they're doing a good job, you will also know enough to not only manage your own portfolio but you will also have the confidence that you know how to manage it.
Or you could just solicit the opinions of a bunch of anonymous Internet strangers, which is worth almost as much as what you're paying for it. If there are over 6000 members on this board, most of whom manage their own finances, how difficult could it be?
Taylor Larimore on the Vanguard Diehards board is managing his own portfolio in his 80s, and he prides himself on spending just a few minutes per year doing it. He even wrote a book about it: "The Boglehead's Guide"