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Re: My first meeting with a Certified Financial Planner
Old 05-13-2006, 10:15 AM   #21
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Re: My first meeting with a Certified Financial Planner

Originally Posted by Maximillion
I told him, I.M.O, he should be at least 70 % Bonds, laddered, to take advantage of higher rates, and the rest should be in Dividend paying Stocks, preferably an ETF.

I am of the belief that you do not necesarily have to own stocks, if a Bond will give you your income, then stay with the least risk.

One daughter, I pointed out there is no guarantee she will survive them,give her $150,000, 0% interest, ripped up at their death, she can buy her first condo(she is married).
I believe long term bonds will go down in value because the trade deficit and national debt will continue to grow, thereby spooking the bond markets and causing long term rates to go up.* Plus the dollar is going down the toilet -- the lowest level since 1997 and decreasing.**

Bonds still have inflation, interest rate, currency devaluation, and default risk. I agree that since short term rates are looking attractive (and likely to go up) it might make sense to add more weight to that end of the scale.* *No magic answer on the portfolio allocation, but he could live to be in his 90s, so it's not exactly short term.*

The legal limit for gifts without any gift tax consequences is $12K per year per person.* Have your brother and his wife each give the daughter 12K +12K in 2006 and 12K+12K in 2007.* She's married, so give her husband 12K +12K in 2006 and 12K+12K in 2007.* That gives them $96K to work with.* Have her buy the house with a regular loan, but then have him pay down the principal in the same way in subsequent years.* Or have him buy half the house with his own money, she buys her half with her money, and then he can give her rights of survivorship.*

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Re: My first meeting with a Certified Financial Planner
Old 05-14-2006, 10:13 PM   #22
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Re: My first meeting with a Certified Financial Planner

Originally Posted by MasterBlaster
As I recall Vanguard charges $1000 if you aren't a "flagship" client.
Do you feel like you received $1000 worth of value from your financial planner ?
I would have felt ripped off if I had to pay $1000 for this very limited boiler plate advice.

I look to the present moment because that's where I live my life.
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Re: My first meeting with a Certified Financial Planner
Old 05-15-2006, 09:29 AM   #23
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Re: My first meeting with a Certified Financial Planner

There was a WSJ article about the offering today comparing it to Fidelity's.* It looks like more of a retention device for the investors who already invest quite a bit and don't have to pay.* *It's not something they market it a great deal as an unbundled product.* I agree you could probably get more value for your $1,000 elsewhere, but it is a savvy move by Vanguard.* I am now less likely to go outside Vanguard for a financial plan or at least delay such a decision, but if I had done so, I might have been persuaded to yank my funds from Vanguard.

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