Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Re: Final Meeting With My Finacial Advisor.
Old 01-10-2007, 08:49 AM   #61
Thinks s/he gets paid by the post
Bikerdude's Avatar
 
Join Date: Jul 2006
Posts: 1,901
Re: Final Meeting With My Finacial Advisor.

Quote:
Originally Posted by FinanceDude
Yet another blanket statement from someone with no knowledge of the industry........
I retired (after 25 yrs) from the Financial Industry.
__________________

__________________
“I guess I should warn you, if I turn out to be particularly clear, you've probably misunderstood what I've said” Alan Greenspan
Bikerdude 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!

Re: Final Meeting With My Finacial Advisor.
Old 01-10-2007, 09:21 AM   #62
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
FinanceDude's Avatar
 
Join Date: Aug 2006
Posts: 12,484
Re: Final Meeting With My Finacial Advisor.

Quote:
Originally Posted by Bikerdude
I retired (after 25 yrs) from the Financial Industry.
So why post the way you do?? : :

__________________

__________________
Consult with your own advisor or representative. My thoughts should not be construed as investment advice. Past performance is no guarantee of future results (love that one).......:)


This Thread is USELESS without pics.........:)
FinanceDude is offline   Reply With Quote
Re: Final Meeting With My Finacial Advisor.
Old 01-10-2007, 10:34 AM   #63
Full time employment: Posting here.
My Dream's Avatar
 
Join Date: Sep 2006
Location: Ontario, Canada
Posts: 829
Re: Final Meeting With My Finacial Advisor.

Quote:
Originally Posted by bosco
don't think you can buy the funds but you can buy the ETFs through a Canadian brokerage account. My plan when I finally get around to having dw convert her RRSP out of IG is to buy ETFs. The foreign content rules have been removed, so it shouldn't be a problem.

What are ETF's


Quote:
Originally Posted by Leonidas
you have to be an informed consumer of investment products or you risk being taken again.
If I were an informed consumer than I would attempt to invest on my own.


Quote:
Originally Posted by Brat
A well managed balanced fund will let you concentrate on your profession and still have a good nest-egg when you retire.
I have to obtain the knowledge to do that first.

Quote:
Originally Posted by deserat
I'll add another book - The Lazy Man's Guide to Investing -
There's been so many books recommended that I'm going to have to figure out which one to read next. Thanks
__________________
Newbie
My Dream is offline   Reply With Quote
Re: Final Meeting With My Finacial Advisor.
Old 01-10-2007, 10:41 AM   #64
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
FinanceDude's Avatar
 
Join Date: Aug 2006
Posts: 12,484
Re: Final Meeting With My Finacial Advisor.

[quote=My Dream ]

What are ETF's
/[quote]

Exchange traded funds.............a way to invest or benchmark different sectors or broad indexes. Very low ER, but you will have transaction fees, so try to find a low-cost provide of that............
__________________
Consult with your own advisor or representative. My thoughts should not be construed as investment advice. Past performance is no guarantee of future results (love that one).......:)


This Thread is USELESS without pics.........:)
FinanceDude is offline   Reply With Quote
Re: Final Meeting With My Finacial Advisor.
Old 01-10-2007, 10:52 AM   #65
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
cute fuzzy bunny's Avatar
 
Join Date: Dec 2003
Location: Losing my whump
Posts: 22,697
Re: Final Meeting With My Finacial Advisor.

To be fair to the financial adviser (and dependent on the timing of these moves) many peoples portfolios experienced a strong run up in the late 90's and then a fairly lousy 2 year period that ended up leaving a lot of portfolios with neutral returns. Then the next four years were pretty good.

So the poor returns may have had less to do with the financial advisers steerage and more to do with the way the market was moving.

That having been said, in a situation where your real returns are marked in the low single digits on average, giving 1-2% of that money away to someone who cant see the future any better than you can is a losers bet.

You dont need to read a book, learn the lingo, or even decipher the phrase "dollar cost averaging". Go to vanguard or fidelity or whoever floats your boat, take their 3-5 question "risk tolerance" survey, and buy a target retirement/lifestrategy fund that suits your age and risk tolerance. Then throw any extra money you get into it when you get it.

Heck, they'll even do the survey over the phone and send you the forms already filled out, providing you're investing more than chump change.

As far as the books, if you do an advanced search here for "book report" and check the 'title only' box... you'll find that at least a half dozen of the books have been read, summarized and discussed ad nauseum. But if I was going to pick two I'd read "the millionaire next door" and "the four pillars of investing". Unless you're an academic, plan to put both books down every 30-45 minutes to think things over and possibly find yourself yelling at the book to stop pounding you with data and just give you the conclusions. They're written by Doctorate types who want to ply you with endless studies and analysis before stating their points. I ended up reading the chapter summaries and then reading the chapter.

__________________
Be fearful when others are greedy, and greedy when others are fearful. Just another form of "buy low, sell high" for those who have trouble with things. This rule is not universal. Do not buy a 1973 Pinto because everyone else is afraid of it.
cute fuzzy bunny is offline   Reply With Quote
Re: Final Meeting With My Finacial Advisor.
Old 01-10-2007, 10:55 AM   #66
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
mickeyd's Avatar
 
Join Date: Apr 2004
Location: South Texas~29N/98W
Posts: 5,881
Re: Final Meeting With My Finacial Advisor.



Quote:
I retired (after 25 yrs) from the Financial Industry.


So why post the way you do??
FD, why do you continue to challenge people that choose to post on this forum? You may try lightening up your criticism and challenges to posters that you do not happen to agree with 100% and accept the fact that not all posters are in line with your thinking. Maybe that's a good thing.

Everyone's opinion is of value here, even if it is not the same as that of FD and they should not have to pass any test that you think is necessary.
__________________
Part-Owner of Texas

Outside of a dog, a book is man's best friend. Inside of a dog, it's too dark to read. Groucho Marx

In dire need of: faster horses, younger woman, older whiskey, more money.
mickeyd is offline   Reply With Quote
Re: Final Meeting With My Finacial Advisor.
Old 01-10-2007, 11:11 AM   #67
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
FinanceDude's Avatar
 
Join Date: Aug 2006
Posts: 12,484
Re: Final Meeting With My Finacial Advisor.

Quote:
Originally Posted by mickeyd


FD, why do you continue to challenge people that choose to post on this forum? You may try lightening up your criticism and challenges to posters that you do not happen to agree with 100% and accept the fact that not all posters are in line with your thinking. Maybe that's a good thing.

Everyone's opinion is of value here, even if it is not the same as that of FD and they should not have to pass any test that you think is necessary.
Didn't know I was giving out any tests............. I value the opinion of you and many others on here...........will try to "lighten up" as you say............
__________________
Consult with your own advisor or representative. My thoughts should not be construed as investment advice. Past performance is no guarantee of future results (love that one).......:)


This Thread is USELESS without pics.........:)
FinanceDude is offline   Reply With Quote
Re: Final Meeting With My Finacial Advisor.
Old 01-10-2007, 11:41 AM   #68
Full time employment: Posting here.
My Dream's Avatar
 
Join Date: Sep 2006
Location: Ontario, Canada
Posts: 829
Re: Final Meeting With My Finacial Advisor.

[quote=FinanceDude ]
[quote=My Dream ]

What are ETF's
/
Quote:

Exchange traded funds.............a way to invest or benchmark different sectors or broad indexes. Very low ER, but you will have transaction fees, so try to find a low-cost provide of that............
Thanks FD
Quote:
Originally Posted by El Guapo
So the poor returns may have had less to do with the financial advisers steerage and more to do with the way the market was moving.

To be fair what I did is for the last 4 years with IG rather than invest with them, I left what I presently had over the previous 6 years and let it ride. With the new money I had saved, I gambled and took the advice of my neighbor and invested in 4 mutual funds which he had invested in himself. I kept the same 4 funds the the returns where approximately 2 to 5% higher than I was gettiing with the money I had invested with IG, during the last for years. So I compared my investments with IG.s of my money.

Quote:
Originally Posted by mickeyd


Everyone's opinion is of value here, even if it is not the same as that of FD.

I also appreciate as well as value everyone's ...........well most people's opinion on this forum. I'm just having a real problem adjusting to and could do without..... the sometimes surprising sarcasm and insults that believe it or not do appear.
__________________
Newbie
My Dream is offline   Reply With Quote
Re: Final Meeting With My Finacial Advisor.
Old 01-10-2007, 04:26 PM   #69
Thinks s/he gets paid by the post
Leonidas's Avatar
 
Join Date: May 2006
Location: Where the stars at night are big and bright
Posts: 2,847
Re: Final Meeting With My Finacial Advisor.

Quote:
Originally Posted by My Dream
If I were an informed consumer than I would attempt to invest on my own.
No, that's not exactly the case.

You are an investor anytime you have money at risk in an investment, and there are always choices to be made. You can decide how hands-on you want to be, but most people don't have the time, desire, experience, knowledge, or energy to invest in single issues. Mutual funds are great for people like that, or for those with some more developed knowledge/interest/time they may opt to buy some Exchange Traded Funds. But there are people, like you, for whom that route is too involved and then a financial adviser is an option. Yet even there you are faced with options and decisions. If the FA starts telling you "I'm putting 40% in the ABC growth fund and 40% in XYZ Muni fund and keeping 20% in a Money Market so we have options to make purchases later" you need to understand what the heck the guy is talking about.

You also need to have an idea how much risk you are taking and be able to compare the returns you are getting with similarly risky investments. If everybody else in the average mutual fund was pulling down 8.5% and you were making 1% - there is a problem, because you've been taken advantage of.

When I said you need to be an informed consumer of investment products I specifically said you don't need to have the same degree of knowledge as a financial planner. What I meant was that you need to know the very basics. Like what a mutual fund is, how it works, what you are making, what they charge you for the privilige of owning it and how to know if what you're making and paying is reasonable or a ripoff.

Buying investment products has choices just like any other set of consumer choices you make every day. If you need to clothe yourself you might be the kind of person who buys the materials and pattern and goes home and sews it yourself. That's the equivalent of the investor who picks individual stocks/bonds to create a portfolio of investments. You could go to a department store and pick something from off the rack that fits you and is reasonably priced. That's the equivalent of a mutual fund buyer. Or you might prefer to go to a clothing store and work with a commissioned salesperson who will help you with purchasing a blue, two-piece european-cut suit suitable to wear to the office. You get measured and fitted, chose from a selection of different suits that only need some tailoring to fit you well. I'm sure somewhere in the process of buying a suit you would do some comparisons and make a decision that while you really like the Italian designer suit, the price is just not worth what you're getting in exchange. That's the kind of investor you need to be and I think you want to be. You are willing to pay a little more for quality advice, convenience and merchandise, but you want value for your money. That would also be an informed consumer.

What you did was like going to the custom suit store and walking up to the first salesperson you saw and saying "I need a nice suit by next Tuesday. I don't have time to look at colors and I wouldn't know a designer garment from something made in a Guangxi sweat shop by blind tailors. But I want it to fit, be reasonably priced, look nice and be durable. Oh, and I don't have a lot of time to hang around for fitting so here's my credit card and I'll see you next Tuesday." That store is full of good suits and a few ugly ones, the prices range from great to "money is no object", and the salesmen range from someone who has 40 years experience and impeccable taste, to the owner's nephew who can't keep a job anyplace else and thinks jeans with holes are da bomb when it comes to fine apparel. What do you wind up with next Tuesday? I don't know, it's all a matter of luck because you were definitely not an informed and careful consumer. You might have a suit that everyone compliments that only costs you $12, or you may wind up paying $6,000 for something that looks suitable for the Pimps and Hooker's Ball with one sleeve six inches longer and a zipper that keeps falling down.

Modified to remove humorous picture - but my sense of humor is warped and I didn't want to offend
__________________
There is no pleasure in having nothing to do; the fun is having lots to do and not doing it. - Andrew Jackson
Leonidas is offline   Reply With Quote
Re: Final Meeting With My Finacial Advisor.
Old 01-10-2007, 04:33 PM   #70
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Brat's Avatar
 
Join Date: Feb 2004
Location: Portland, Oregon
Posts: 5,914
Re: Final Meeting With My Finacial Advisor.

Leonidas... Great parable!!
__________________
Duck bjorn.
Brat is offline   Reply With Quote
Re: Final Meeting With My Finacial Advisor.
Old 01-10-2007, 04:34 PM   #71
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
REWahoo's Avatar
 
Join Date: Jun 2002
Location: Texas Hill Country
Posts: 42,094
Re: Final Meeting With My Finacial Advisor.

Leonidas, thanks for deleting the photo. I was confused as to exactly which one was the FA.

__________________
Numbers is hard

When I hit 70, it hit back

Retired in 2005 at age 58, no pension
REWahoo is offline   Reply With Quote
Re: Final Meeting With My Finacial Advisor.
Old 01-10-2007, 04:53 PM   #72
Thinks s/he gets paid by the post
Leonidas's Avatar
 
Join Date: May 2006
Location: Where the stars at night are big and bright
Posts: 2,847
Re: Final Meeting With My Finacial Advisor.

Quote:
Originally Posted by REWahoo!
Leonidas, thanks for deleting the photo. I was confused as to exactly which one was the FA.


Too funny - I hadn't thought of it that way.

Your comment brought to the front of my mind something I've been pondering about the whole FA business. I'm not bashing folks in the business, but I can't help but think that at some of the big places there aren't some similarities between that business and the new car business. In that I mean that the sales guy/FA is a trained front for a giant machine that loves to make customers happy...but...it's all about the profit.

Your comment on the picture reminded me of a comment I read in a book about the new car business that said the one person who gets worked over by the business worse than the customer is the sales person. He/She is forced to work a selling system that maximizes profits for the dealeship while minimizing those annoying little costs like sale commissions. In effect, the sales person could be the most honest and decent person around, but he's working in a system that is doing it's damndest to squeeze money out of every deal.
__________________
There is no pleasure in having nothing to do; the fun is having lots to do and not doing it. - Andrew Jackson
Leonidas is offline   Reply With Quote
Re: Final Meeting With My Finacial Advisor.
Old 01-10-2007, 09:58 PM   #73
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Jul 2006
Posts: 11,018
Re: Final Meeting With My Finacial Advisor.

Quote:
Originally Posted by Nords
OK, let's torture this analogy for a while.

Doesn't it seem odd that financial advisors don't offer a warranty?
Unfortunately, the same is true of healthcare! And I don't agree with it......
Meadbh, MD
__________________
Meadbh is offline   Reply With Quote
Re: Final Meeting With My Finacial Advisor.
Old 01-10-2007, 10:01 PM   #74
Administrator
Gumby's Avatar
 
Join Date: Apr 2006
Posts: 10,142
Re: Final Meeting With My Finacial Advisor.

S..
__________________
Living an analog life in the Digital Age.
Gumby is offline   Reply With Quote
Re: Final Meeting With My Finacial Advisor.
Old 01-11-2007, 07:28 AM   #75
Full time employment: Posting here.
My Dream's Avatar
 
Join Date: Sep 2006
Location: Ontario, Canada
Posts: 829
Re: Final Meeting With My Finacial Advisor.

Quote:
Originally Posted by Leonidas


What you did was like going to the custom suit store and walking up to the first salesperson you saw and saying "I need a nice suit by next Tuesday. I don't have time to look at colors and I wouldn't know a designer garment from something made in a Guangxi sweat shop by blind tailors. But I want it to fit, be reasonably priced, look nice and be durable. Oh, and I don't have a lot of time to hang around for fitting so here's my credit card and I'll see you next Tuesday." That store is full of good suits and a few ugly ones, the prices range from great to "money is no object", and the salesmen range from someone who has 40 years experience and impeccable taste, to the owner's nephew who can't keep a job anyplace else and thinks jeans with holes are da bomb when it comes to fine apparel. What do you wind up with next Tuesday? I don't know, it's all a matter of luck because you were definitely not an informed and careful consumer. You might have a suit that everyone compliments that only costs you $12, or you may wind up paying $6,000 for something that looks suitable for the Pimps and Hooker's Ball with one sleeve six inches longer and a zipper that keeps falling down.
Leonidas Thanks for the detailed and easy to follow explanation. That was great and I will agree with everything except the paragraph above. Although it was close, I did more than just tell them what I wanted with a credit card and left. I gave them my measurements and constant feedback saying, I'm not happy since they don't fit the measurements I gave you.
In reality, We gave my FA our exact goals, and not only followed through on what was expected of us finacially, we more than exceded it. And when I told FA that I wasn't happy,and even went as far as to say that I was putting FA on "porbation, nothing and I mean nothing changed.

On a different note, my wife received a call yesterday during dinner from a lawyer saying he was requested to call us from our FA since he stated we wanted a will. After completing the call my DW looked over to me in dissapointment, saying, I don't thing our FA really hears what we're saying. We told him 4 times during the last meeting that we didn't want life insurance, and that we already had a will.

In my case I just think that we should have choice a FA more wisely since my DW and I felt that it was in poor taste for FA to say at our final meeting, that "I made a lot of money off of both of you, and I mean a lot, and I'll be honest, I'm sorry to see you guys want to go to another institution". Can you imagine how we felt.
__________________
Newbie
My Dream is offline   Reply With Quote
Re: Final Meeting With My Finacial Advisor.
Old 01-11-2007, 07:33 AM   #76
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
brewer12345's Avatar
 
Join Date: Mar 2003
Posts: 16,391
Re: Final Meeting With My Finacial Advisor.

Quote:
Originally Posted by My Dream
In my case I just think that we should have choice a FA more wisely since my DW and I felt that it was in poor taste for FA to say at our final meeting, that "I made a lot of money off of both of you, and I mean a lot, and I'll be honest, I'm sorry to see you guys want to go to another institution". Can you imagine how we felt.
Holy cow! I cannot even express how inappropriate that is!
__________________
"There are three kinds of men. The one that learns by reading. The few who learn by observation. The rest have to pee on the electric fence for themselves."



- Will Rogers
brewer12345 is offline   Reply With Quote
Re: Final Meeting With My Finacial Advisor.
Old 01-11-2007, 09:24 AM   #77
Thinks s/he gets paid by the post
 
Join Date: Jun 2005
Posts: 4,005
Re: Final Meeting With My Finacial Advisor.

Quote:
Originally Posted by My Dream
In my case I just think that we should have choice a FA more wisely since my DW and I felt that it was in poor taste for FA to say at our final meeting, that "I made a lot of money off of both of you, and I mean a lot, and I'll be honest, I'm sorry to see you guys want to go to another institution". Can you imagine how we felt.
The first honest thing to come out of this guy's mouth...

__________________
justin is offline   Reply With Quote
Re: Final Meeting With My Finacial Advisor.
Old 01-11-2007, 09:29 AM   #78
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
FinanceDude's Avatar
 
Join Date: Aug 2006
Posts: 12,484
Re: Final Meeting With My Finacial Advisor.

Quote:
Originally Posted by Leonidas


Too funny - I hadn't thought of it that way.

Your comment brought to the front of my mind something I've been pondering about the whole FA business. I'm not bashing folks in the business, but I can't help but think that at some of the big places there aren't some similarities between that business and the new car business. In that I mean that the sales guy/FA is a trained front for a giant machine that loves to make customers happy...but...it's all about the profit.

Your comment on the picture reminded me of a comment I read in a book about the new car business that said the one person who gets worked over by the business worse than the customer is the sales person. He/She is forced to work a selling system that maximizes profits for the dealeship while minimizing those annoying little costs like sale commissions. In effect, the sales person could be the most honest and decent person around, but he's working in a system that is doing it's damndest to squeeze money out of every deal.
Not quite the same........speaking from someone who has done both..........
__________________
Consult with your own advisor or representative. My thoughts should not be construed as investment advice. Past performance is no guarantee of future results (love that one).......:)


This Thread is USELESS without pics.........:)
FinanceDude is offline   Reply With Quote
Re: Final Meeting With My Finacial Advisor.
Old 01-11-2007, 10:21 AM   #79
Thinks s/he gets paid by the post
Leonidas's Avatar
 
Join Date: May 2006
Location: Where the stars at night are big and bright
Posts: 2,847
Re: Final Meeting With My Finacial Advisor.

Quote:
Originally Posted by FinanceDude
Not quite the same........speaking from someone who has done both..........
Hmmmm..,okay, but when you say not quite the same that makes me think that there are some similarities. I know you're sensitive to bashing FA's and that's not what I'm doing (although I'm sure there are some crooks and incompetents), it's just that I'm saying that there must be some institutional pressures placed on people to sell stuff so the company can make more profits.

Quote:
Originally Posted by My Dream
Leonidas Thanks for the detailed and easy to follow explanation. That was great and I will agree with everything except the paragraph above. Although it was close, I did more than just tell them what I wanted with a credit card and left. I gave them my measurements and constant feedback saying, I'm not happy since they don't fit the measurements I gave you.
In reality, We gave my FA our exact goals, and not only followed through on what was expected of us finacially, we more than exceded it. And when I told FA that I wasn't happy,and even went as far as to say that I was putting FA on "porbation, nothing and I mean nothing changed.

On a different note, my wife received a call yesterday during dinner from a lawyer saying he was requested to call us from our FA since he stated we wanted a will. After completing the call my DW looked over to me in dissapointment, saying, I don't thing our FA really hears what we're saying. We told him 4 times during the last meeting that we didn't want life insurance, and that we already had a will.

In my case I just think that we should have choice a FA more wisely since my DW and I felt that it was in poor taste for FA to say at our final meeting, that "I made a lot of money off of both of you, and I mean a lot, and I'll be honest, I'm sorry to see you guys want to go to another institution". Can you imagine how we felt.
Thanks for the additional details. Then I guess, modifying the analogy to fit that info, it was more of a case that the salesguy kept dragging you over to the zebra striped suits when you wanted something conservative to wear to the office. If that happened to you I'm sure you wouldn't spend all day with the same sales person. After a couple of tries to get the person to understand what you want, you would have eventually walked out the door or demanded to see the manager.

I remember a psych class in college during which we discussed a test used by a car dealership to evaluate people who applied to sales positions. It was a multiple choice test that was designed to primarily measure how motivated the applicant was to make money. The dealership knew that if it paid its sales force on commission that those salespeople who were more motivated to make money would find the only way to do it was to maximize profit in every transaction. There's nothing wrong with a business wanting to make money, but all consumers need to understand that and know that they are dealing with people who have a basic conflict between servicing the customer and making money off the customer. You have to know the difference between what is the right thing for you to buy and a different deal in which the salesperson sees more profit for him/her and the company.

All I'm trying to point out to you is that you weren't born with the knowledge of how to buy suits, or cars, or groceries...or investment products. You may not be the most sophisticated shopper, but you can roughly evaluate how well those products fill your needs, how well the salesfolks treat you, and, although you may not drive the hardest bargain, you can tell the difference between a great deal and a total ripoff. Invest in yourself first - make the effort to learn the basics so you can make a somewhat informed decision and know when you're getting blatantly ripped off.

Quote:
Originally Posted by brewer12345
Holy cow! I cannot even express how inappropriate that is!
Yeah...I would be hard pressed to keep myself from inviting that guy to step outside where we could settle our differences in a different forum.
__________________
There is no pleasure in having nothing to do; the fun is having lots to do and not doing it. - Andrew Jackson
Leonidas is offline   Reply With Quote
Re: Final Meeting With My Finacial Advisor.
Old 01-11-2007, 10:43 AM   #80
Full time employment: Posting here.
Retire Soon's Avatar
 
Join Date: Nov 2005
Posts: 655
Re: Final Meeting With My Finacial Advisor.

This thread calls to mind the moment when I was inspired to learn as much as I possibly could about personal investment. On "Black Monday", October 19, 1987 the Dow Jones Industrial Average lost 22% in one single horrifying day. We can all recall the sad stories of people who lost much more than 22% during this ugly event. After reading about those unfortunate accounts of what happened to the porfolios of countless people, I made up my mind that I would learn as much as I could about investing in the stock market. I became very tired of people complaining about what their financial advisors did wrong, or what poor recommendations had been made by the people they so dearly trusted. Speaking for myself, I choose to be personally responsible for my own investments.
__________________

__________________
"I went to the woods because I wished to live deliberately... and not, when I came to die, discover that I had not lived."

--Henry David Thoreau
Retire Soon 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
Who uses an investment advisor to help? mickeyd FIRE and Money 8 02-25-2007 07:28 PM
AssetBuilder/Dimensional Advisor Funds aggie FIRE and Money 2 02-18-2007 04:33 PM
Another advisor horror story JustCurious FIRE and Money 54 12-01-2006 07:57 PM
PeopleSoft/Oracle DBA to Financial Advisor cube_rat Young Dreamers 7 03-21-2006 05:05 PM
Ditching your Financial Advisor?? AJL FIRE and Money 22 11-14-2005 02:18 PM

 

 
All times are GMT -6. The time now is 04:29 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.