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Old 04-10-2013, 08:48 AM   #41
Thinks s/he gets paid by the post
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I've tried VG, Fido and my CU. The CU one was the best, the others were cookie cutters. I admit not knowing more about all aspects of financial planning but I do know more about my situation

If you made it thru 2008 without panicking you probably can do it yourself with some self education

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Old 04-10-2013, 09:48 AM   #42
Give me a museum and I'll fill it. (Picasso)
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Originally Posted by sengsational View Post
I explored fee-only financial planers through napfa, but all (three) of the local ones I called wanted "percent of assets under management". I said "What!?! I want a couple hours of your time and you want to charge me ten grand?"
Well, you could always go to an Ameriprise rep, who would charge you a couple grand to go over your finances, and then put you in high cost proprietary products to boot!

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.........:)
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Old 04-10-2013, 10:48 AM   #43
Full time employment: Posting here.
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Location: athens
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I allocated about 25% of investable assets to Fidelity PAS group. I thought I'd see if they could get a better return than me. In about ten years it's been about a tie. I do get a review twice a year when we discuss just about anything. Sometimes this is helpful for identifying specific funds, sectors etc. I also get many invitations to attend their economic reviews. Sometimes I attend and get breakfast and coffee and occasionally a worthwhile financial tip.

Before a retired I had a financial plan done by a CFP at USAA, before it was free. He offered a few minor suggestions, probably not worth the cost, but did give me more confidence in my plan. I've been talking to another CFP who recently called me out of USAA's Wealth Management group. We'll see how that goes. Very little pressure is the key. When someone starts pushing, I leave the room.
Can't you see yourself in the nursing home saying, " Darn! Wish I'd spent more time at the office instead of wasting time with family and friends."
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Old 04-10-2013, 12:12 PM   #44
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A couple of years before I retired, I made an appointment with a CPA to go over what I had and my spreadsheet that looked at scenarios. It was well worth the money - but he was recommended highly by my stockbroker as being smart and honest I wanted to make sure I had enough saved to retire.

I am mostly DIY but I use the stockbroker for the trades and for his advice. In this very particular case, I know the guy and he gives me a reasonable deal on the commissions. He's not getting rich off me - and I get advice that I have found very valuable.

However, there are also some trust accounts that I manage for my elderly dad - I inherited them when my mother died. The two brokers are completely clueless. One more than the other. I closed one of the Merrill Lynch accounts and moved it to my broker here. I would never trade with ML and its fees.
Retired July 2, 2010 at 62. My only regret is that I couldn't do it sooner.
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Old 04-10-2013, 01:59 PM   #45
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I've never used a financial planner, and don't expect to do so in the future. I was permanently turned off from people selling me financial products by the life insurance salesmen I met in college. Here was I, a poverty-stricken college student with no dependents and hardly any income, and those bozos all thought that life insurance was the perfect thing for me. Nor was it useful to debate with them - they all had perfect answers prepared for whatever objection I brought up. I finally decided that the simplest thing to do was to not talk to them at all. It's an atitude that has served me very well over the years, most recently a few days ago when an Edward Jones rep came ringing doorbells door-to-door. My only mistake was answering the door in the first place. He introduced himself. I said "hi". He asked me if I had ever done any retirement planning with anyone. I said "no", thanked him for stopping by, and closed the door in his face. He tried to give me his business card, but I didn't hear him before the door closed. Hopefully that is the end of that.

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