Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Old 06-26-2008, 12:05 PM   #61
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Dawg52's Avatar
 
Join Date: Feb 2005
Location: Central MS/Orange Beach, AL
Posts: 7,432
Quote:
Originally Posted by ziggy29 View Post
I'm down about 5.5% YTD including today's carnage. It helps to have about 30% out of stocks and about 10% of my equity position in GDX today.
Roughly the same for me, DJP and my natural resource fund has helped me to some extent.
__________________

__________________
Retired 3/31/2007@52
Full time wuss.......
Dawg52 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 06-26-2008, 01:52 PM   #62
Thinks s/he gets paid by the post
 
Join Date: Jan 2008
Posts: 2,020
Quote:
Originally Posted by FinanceDude View Post
No, I am expected to offer sound advice for free on this forum....... That being said, I have been reminded over and over again by a fair number on here how "guys like me" are unnecessary, inexperienced, and of no value............
Well, the problem is Ameriprise. That was my first, and, to-date only run-in with an FA. We've interviewed one other one since then, but couldn't get past his fee structure at that point (again, blame it on Ameriprise). Then I've got a friend who is friends with an FA. We've talked to him, he seems rather knowledgable and ethical. However, before we can do anything, he wants to charge us to put together a big, glossy plan. I don't know where I'll be next year much less in 5, 10 or 15 years, so it seemed like a waste of $3k.

Maybe I'll tell my wife I found a nice guy on the Internet to help . We live within a day's drive after all.
__________________

__________________
Marquette is offline   Reply With Quote
Old 06-26-2008, 01:57 PM   #63
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
haha's Avatar
 
Join Date: Apr 2003
Location: Hooverville
Posts: 22,380
Quote:
Originally Posted by FinanceDude View Post
No, I am expected to offer sound advice for free on this forum....... That being said, I have been reminded over and over again by a fair number on here how "guys like me" are unnecessary, inexperienced, and of no value............
Oh heck, it sounds like Dude is feeling unloved. Everyone, let's give it up for the Dude! (Sounds of clapping and cheering are heard.)

You are helpful you sweet person, and we should say so more often.

Ha
__________________
"As a general rule, the more dangerous or inappropriate a conversation, the more interesting it is."-Scott Adams
haha is offline   Reply With Quote
Old 06-26-2008, 02:03 PM   #64
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
bbbamI's Avatar
 
Join Date: Dec 2006
Location: Dallas 'burb
Posts: 9,039
A flower for FDude.....@->->->----
__________________
There's no need to complicate, our time is short..
bbbamI is offline   Reply With Quote
Old 06-26-2008, 02:51 PM   #65
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
Dude ,you are the best !
Attached Images
File Type: jpg mban1458l.jpg (25.9 KB, 185 views)
__________________
Moemg is offline   Reply With Quote
Old 06-26-2008, 03:06 PM   #66
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: 42,074
Moemg, FD is going to be upset that you ratted out his new client development strategy...
__________________
Numbers is hard

When I hit 70, it hit back

Retired in 2005 at age 58, no pension
REWahoo is offline   Reply With Quote
Old 06-26-2008, 03:16 PM   #67
Moderator Emeritus
CuppaJoe's Avatar
 
Join Date: Jun 2007
Location: At The Cafe
Posts: 6,866
Quote:
Originally Posted by FinanceDude View Post
.... And they are NOT selling, I had 5 guys buy heavy today alone...........
I chunked the last of my new Keogh money in just before you posted this. Wow, that was fun! I felt like I was riding shotgun with a reckless driver on the road down to Muir Woods (hairpin turns and steep drop offs). This isn't gloating, I also chunked a bigger amount in on June 4. That's entertainment! Still have some more new money to play with. Remember, "It's only money." Will I need stitches for the knife wounds on my hands?
__________________
CuppaJoe is offline   Reply With Quote
Old 06-26-2008, 03:29 PM   #68
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
FinanceDude's Avatar
 
Join Date: Aug 2006
Posts: 12,484
Quote:
Originally Posted by Marquette View Post
Well, the problem is Ameriprise. That was my first, and, to-date only run-in with an FA. We've interviewed one other one since then, but couldn't get past his fee structure at that point (again, blame it on Ameriprise). Then I've got a friend who is friends with an FA. We've talked to him, he seems rather knowledgable and ethical. However, before we can do anything, he wants to charge us to put together a big, glossy plan. I don't know where I'll be next year much less in 5, 10 or 15 years, so it seemed like a waste of $3k.
I had my own "run-in" with Ameriprise before it was Ameriprise. DW's grandfather left her some money that was with American Express. When we moved away, it took 2 months to transfer the account to the rep where we are now.

He wanted to do a plan and charge us $1200 for it, that was 1995. When I asked him how he justified charging us to do ANOTHER financial plan when my DW had one down just 18 months earlier, he gave me some BS about needing to "make different assumptions", etc. I told him no thanks on the "plan." He then agreed to do the "plan" for $200, and give us his recommendations. I balked but DW told him that was ok.......... His recommendation included a boatload of universal life insurance, and a portfolio of proprrietary mutual funds, all in B shares. I asked him the following question:

"So, you get folks to purchase a "plan" from you, and then you invest them in propreitary products with loads? Isn't that getting paid twice? He hemmed and hawed, and we ended up leaving, and I took over investing the account. So, not a lot different from the experiences I read on here...........
__________________
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
Old 06-26-2008, 03:56 PM   #69
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 CuppaJoe View Post
" Will I need stitches for the knife wounds on my hands?

Depends on how far you slice !
__________________
Moemg is offline   Reply With Quote
Old 06-26-2008, 04:42 PM   #70
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Lsbcal's Avatar
 
Join Date: May 2006
Location: west coast, hi there!
Posts: 5,675
Quote:
Originally Posted by Dawg52 View Post
...To think the DOW was at 13k around May 19 and now it's down almost 1500 points in a month. If that doesn't frost your %$#! I don't know what does. Your right, the market makes me miserable. That's why I'm going to be out(well cut way back) if it ever gets back to what it was just a frigging month ago.
Sounds a bit like getting even and getting out. Not a good prescription for long term success. What about all those charts you see when running FIRECalc? Some of them go down for awhile before going back up. Bear markets are like this -- 2 steps down and 1 step up. You just have to hold on until the Bull market -- 1 step down and 2 steps up.

But I know how you feel :confused: . Wonder if my dog needs a walk? I sure do.
__________________
Lsbcal is online now   Reply With Quote
Old 06-26-2008, 04:44 PM   #71
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
HFWR's Avatar
 
Join Date: May 2005
Location: Lawn chair in Texas
Posts: 12,964
This is a return chart, since 11/1/2007, for my 401k portfolio, with a value snapshot taken semi-monthly. Granted, it doesn't necessarily capture all the highs and lows, but gives a good trend line...

__________________
Have Funds, Will Retire

...not doing anything of true substance...
HFWR is offline   Reply With Quote
Old 06-26-2008, 05:44 PM   #72
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Dawg52's Avatar
 
Join Date: Feb 2005
Location: Central MS/Orange Beach, AL
Posts: 7,432
Quote:
Originally Posted by lsbcal View Post
Sounds a bit like getting even and getting out. Not a good prescription for long term success. What about all those charts you see when running FIRECalc? Some of them go down for awhile before going back up. Bear markets are like this -- 2 steps down and 1 step up. You just have to hold on until the Bull market -- 1 step down and 2 steps up.
Yep, that's all I want at this point. To get even. I'm not sure I will live long enough to see the "1 step down and 2 steps up" you describe. What's the disclaimer published at the end of all mutual fund prospectus? 'Past performance is no guarantee of future results'?
__________________
Retired 3/31/2007@52
Full time wuss.......
Dawg52 is offline   Reply With Quote
Old 06-26-2008, 05:56 PM   #73
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Lsbcal's Avatar
 
Join Date: May 2006
Location: west coast, hi there!
Posts: 5,675
Quote:
Originally Posted by Dawg52 View Post
Yep, that's all I want at this point. To get even. I'm not sure I will live long enough to see the "1 step down and 2 steps up" you describe. What's the disclaimer published at the end of all mutual fund prospectus? 'Past performance is no guarantee of future results'?
My friend (I'm trying out the politician's tactic ), I can promise you that you will live to see the next bull market. If I'm wrong I'll meet you in ...ummm ... the appropriate place .
__________________
Lsbcal is online now   Reply With Quote
Old 06-26-2008, 06:01 PM   #74
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Dawg52's Avatar
 
Join Date: Feb 2005
Location: Central MS/Orange Beach, AL
Posts: 7,432
Quote:
Originally Posted by lsbcal View Post
My friend (I'm trying out the politician's tactic ), I can promise you that you will live to see the next bull market. If I'm wrong I'll meet you in ...ummm ... the appropriate place .
See ya there.
__________________
Retired 3/31/2007@52
Full time wuss.......
Dawg52 is offline   Reply With Quote
Old 06-26-2008, 09:43 PM   #75
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
clifp's Avatar
 
Join Date: Oct 2006
Posts: 7,450
Quote:
Originally Posted by FinanceDude View Post
No, I am expected to offer sound advice for free on this forum....... That being said, I have been reminded over and over again by a fair number on here how "guys like me" are unnecessary, inexperienced, and of no value............
We in turn provide you with free lessons on humility, it seems like a fair deal .

We've offered the same deal to Brewer but he seems to be a bit of a slow learner in the humility department.
__________________
clifp is offline   Reply With Quote
Old 06-26-2008, 10:34 PM   #76
Thinks s/he gets paid by the post
 
Join Date: Jan 2008
Posts: 2,020
Here's why I love my wife... I mention that I heard the market was down. She says well, that's fine, it might go back up. I say that I heard it might not... could be down forever, just like in the 70's. She says well, if we keep putting as much in as we are, and it does turn around in 10 years, we'll be really rich. I told her that sounded like a good deal to me.
__________________
Marquette is offline   Reply With Quote
Old 06-27-2008, 12:57 AM   #77
Full time employment: Posting here.
TargaDave's Avatar
 
Join Date: Jul 2005
Posts: 588
Quote:
Originally Posted by REWahoo View Post
Dawg, you need to be more optometristimistic...
No, you need to get the heck away from looking at your portfolio 5 times a week (over even once a month), get away from surfing this forum 3 hours a day, and just enjoy living your life!!! This board as a whole has lots of great attributes. Unfortunately it has a few bad ones.
__________________
TargaDave is offline   Reply With Quote
Old 06-27-2008, 02:15 AM   #78
Thinks s/he gets paid by the post
 
Join Date: Nov 2005
Location: North of Montana
Posts: 2,753
Quote:
Originally Posted by FinanceDude View Post
The majority of my clients are down 3-4%, while the indexes are down 10%. And they are NOT selling, I had 5 guys buy heavy today alone...........l
On your recommendation or their own volition? What about your other clients:confused:

Quote:
Originally Posted by FinanceDude View Post
No, I am expected to offer sound advice for free on this forum.......
Really, who told you that?:confused: You can do what you want here.
__________________
There are two kinds of people in the world: those who can extrapolate conclusions from insufficient data and ..
kumquat is offline   Reply With Quote
Old 06-27-2008, 09:46 AM   #79
Thinks s/he gets paid by the post
2B's Avatar
 
Join Date: Mar 2006
Location: Houston
Posts: 4,330
Quote:
Originally Posted by FinanceDude View Post
No, I am expected to offer sound advice for free on this forum....... That being said, I have been reminded over and over again by a fair number on here how "guys like me" are unnecessary, inexperienced, and of no value............
That sounds familiar.

I'm down 5.01% as of the close on Thursday. I'm 60% in equities with 1/3 of that in foreign index funds. They've been getting hit pretty hard lately.

My comment on guys like you being unnecessary is based on my belief that most people have, or should have, very simple financial lives and that a little self education can equip anyone with average mental capacity to live below their means and create a diversified index portfolio on their own.

Unfortunately, their are many people that "can't be bothered" or believe it's "too complicated." For them to get anywhere, paying people in your occupation a few grand a year is probably in their best interest.

From what I've heard from you, you're in a fee only practice and don't seem to be a big annuity salesman. That puts you in the top tier of people I'd personally never employ but won't grit my teeth if someone does go to you. Unfortunately, their are many people that call themselves "financial advisers" that could be better described as "financial predators."
__________________
The object of life is not to be on the side of the majority, but to escape finding oneself in the ranks of the insane -- Marcus Aurelius
2B is offline   Reply With Quote
Old 06-27-2008, 10:02 AM   #80
Moderator
ziggy29's Avatar
 
Join Date: Oct 2005
Location: Texas
Posts: 15,612
Quote:
Originally Posted by 2B View Post
Unfortunately, their are many people that "can't be bothered" or believe it's "too complicated." For them to get anywhere, paying people in your occupation a few grand a year is probably in their best interest.
Is it unfortunate? If people don't want to do it, they don't want to do it. When I lived in Houston, I knew how to mow the lawn and maintain the landscaping, but I didn't WANT to do it and I made a decision to pay someone $30 every week or two to do it for me. It was worth it to me.

Now if it's only a matter of people being intimidated about it and don't think they can learn how to manage their own money, maybe it's a matter of education.

Then again, if they are nervous nellies who would either keep everything in CDs for 30 years or sell into bear markets, these are also people who would likely be better off listening to a fee-only planner with no conflicts of interest who can help talk them off the ledge.

You and I may feel comfortable managing our money, and indeed we may be appalled at the thought of anyone else doing it for us. But it takes all kinds...
__________________

__________________
"Hey, for every ten dollars, that's another hour that I have to be in the work place. That's an hour of my life. And my life is a very finite thing. I have only 'x' number of hours left before I'm dead. So how do I want to use these hours of my life? Do I want to use them just spending it on more crap and more stuff, or do I want to start getting a handle on it and using my life more intelligently?" -- Joe Dominguez (1938 - 1997)

RIP to Reemy, my avatar dog (2003 - 9/16/2017)
ziggy29 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
New Year Stock Market James5v Stock Picking and Market Strategy 18 01-15-2008 04:57 PM
Hmm, stock market or Money Market/CD? Moneycoming Stock Picking and Market Strategy 4 08-14-2007 07:41 PM
REITs finally taking a dive?? ScaredtoQuit FIRE and Money 75 05-23-2007 06:51 PM
Stock Market Danny Other topics 14 05-19-2006 03:32 PM
My Roth/401k are taking a dive! thefed FIRE and Money 12 02-10-2006 08:01 PM

 

 
All times are GMT -6. The time now is 10:59 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.