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Old 03-07-2008, 03:22 PM   #61
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I've become the semi-pro financial advisor at work for about a half a dozen people who are nearing retirement (2-5 years), semi-pro cuz I'm "semi-paid" . Over the last couple of years I've gotten them out of crappy variable annuities and overly risky investments with high fees and costs and into Vanguard funds - principally Wellesly and Wellington. The other day when a couple of them were concerned I was able to show them where they would have been compared to where they are and they felt a lot better. That bond and dividend aspect really helps smooth the bumps out and keep them calm, too. I've got another friend at work who despite wanting to retire in 5 years is still gambling on the high risk end of the market. I've got her to agree to meeting with me to change her allocation and put future contributions into less risky investments, and now I'm working to move her existing portfolio into a more conservative alignment. Problem is, with the huge drop recently, I don't want to "lock in" losses.
In all seriousness Laurence I would be very careful. If you're doing what you're saying you are positioning yourself as an advisor any completely throwing out any licensing issues you could very easily be sued. (being in the business at least give you that handy binding arbitration agreement)
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Old 03-07-2008, 03:26 PM   #62
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Were there any coworkers suing each other over dot-com picks?

I've never heard of a layperson getting sued for investment advice. If there's liability there, everybody on this board is in trouble.
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Old 03-07-2008, 03:38 PM   #63
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Were there any coworkers suing each other over dot-com picks?

I've never heard of a layperson getting sued for investment advice.

Investment advice is one thing.

PAID investment advice is something else.
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Old 03-07-2008, 03:46 PM   #64
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What's the old saying?

Where there's a lawyer, there's a way.
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Old 03-07-2008, 05:37 PM   #65
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So in a few days or weeks Ha, you'll be listed as a Rob Bennett supporter!
LOL! I never would have anticipated that.

Ha
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Old 03-07-2008, 06:11 PM   #66
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In all seriousness Laurence I would be very careful. If you're doing what you're saying you are positioning yourself as an advisor any completely throwing out any licensing issues you could very easily be sued. (being in the business at least give you that handy binding arbitration agreement)
Well, it consists of helping them pick which vehicles of a small basket of choices to put there 401k money and then some advice on 4% rule and reading 4 pillars, things like that. Haven't presented myself as an FA or charged a cent. I hear what you are saying but I think I'm operating in a pretty safe zone. These people had things like tax-free investments in tax sheltered accounts, things like that. Anything above general information and the how tos for signing up for the 401k matching I've referred them to professionals. I should probably worry more about FA's suing me, since I'm taking food out of their children's mouths!
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Old 03-07-2008, 08:08 PM   #67
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Well for the ones who just retired, not so good. Of course I will rebalance(again) if the market goes further down, but not what I wanted to see as a new retiree.
It's not the optimal (far from it) scenario, but if you have set up your 'buckets of money', as some of us have, one can weather a few years of down markets.
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Old 03-07-2008, 08:17 PM   #68
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It's not the optimal (far from it) scenario, but if you have set up your 'buckets of money', as some of us have, one can weather a few years of down markets.
How do you weather it when inflation and the declining dollar is eating up your purchasing power?
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Old 03-07-2008, 08:23 PM   #69
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LOL! I never would have anticipated that.
Yeah, well neither did a bunch of people who hate his guts, yet nevertheless had selected snippets of things they posted 6 years ago show up on his book jacket.

Which as far as I know sold about 6 copies.
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Old 03-07-2008, 08:27 PM   #70
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Doggone it. The Dow is in the 11,000's and it's 8 more days until I planned to DCA any more of my inheritance into the market.

I SUPPOSE it would be smartest to follow my plan, despite temptation.
Yep plan your work and work your plan. Actually, in the long run (years from now), it probably won't make a big difference.

I measure things using the hand grenade scale, not the pin point scale, so 8 days would be close enough for me ... but that's the testosterone speaking Most people on this board seem to be more precision oriented. However, one of the things that kept me out of trouble in my w*rking life was to always remember to 'NOT exceed the precision of the model'.
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Old 03-07-2008, 08:29 PM   #71
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I hope you are right! It would be just my luck for the market to go sideways in the long term for the next 40 years.
curious ... what is magic about 8 days from now?
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Old 03-07-2008, 08:48 PM   #72
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How do you weather it when inflation and the declining dollar is eating up your purchasing power?
See my 'exceeding the precision of the model' thought on this thread. Also my personal inflation seems to be much lower than the oft quoted 3+%. We, as many on this board, are not lavish consumers.
The real answer is that I have a huge buffer in our budget. It includes funds for a lot of travel and fun. If the sh*t hits the fan, I can hunker down to a comfortable lifestyle and put the traveling on hold for a while. Although it does not seem to be a problem yet.
Yes 5 years or so of downward market would cause me some angst, but before then, I will be on plan B.
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Old 03-07-2008, 09:40 PM   #73
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curious ... what is magic about 8 days from now?
Well, I suppose it isn't THAT magic. Right now I have 2/3 of my inheritance in hand, and certain amounts of what I have are planned for equity index funds. I decided to DCA one fifth of these amounts, at one month intervals for five months.

I started on February 14th, so one month from then is March 14th. Only 7 days, actually. (Then April 14th, May 14th, and June 14th). If I start market timing, it isn't technically DCA'ing. Or, maybe I am being a little obsessive/compulsive about it.
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Old 03-07-2008, 10:10 PM   #74
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Well, I suppose it isn't THAT magic. Right now I have 2/3 of my inheritance in hand, and certain amounts of what I have are planned for equity index funds. I decided to DCA one fifth of these amounts, at one month intervals for five months.

I started on February 14th, so one month from then is March 14th. Only 7 days, actually. (Then April 14th, May 14th, and June 14th). If I start market timing, it isn't technically DCA'ing. Or, maybe I am being a little obsessive/compulsive about it.
maybe?

I think if you were to go ahead and put another 1/5th into your AA tomorrow you would still be DCA'ing. You would have to cop to being a dirty market timer though

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Old 03-08-2008, 06:35 AM   #75
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Well, I suppose it isn't THAT magic. Right now I have 2/3 of my inheritance in hand, and certain amounts of what I have are planned for equity index funds. I decided to DCA one fifth of these amounts, at one month intervals for five months.

I started on February 14th, so one month from then is March 14th. Only 7 days, actually. (Then April 14th, May 14th, and June 14th). If I start market timing, it isn't technically DCA'ing. Or, maybe I am being a little obsessive/compulsive about it.
IMO if you looked up obsessive/compulsive in the dictionary, you would see your picture there.
As they used to say when I was in the military ... close enough for government work ... although you are so close waiting wouldn't be the end of the world either ... as I have said ... in 20 years it won't make a difference.
LOL Decision making is tough isn't it? My major decision today was whether or not to eat that last dumpling at lunch today ... I love FIRE.
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Old 03-10-2008, 08:47 AM   #76
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Were there any coworkers suing each other over dot-com picks?

I've never heard of a layperson getting sued for investment advice. If there's liability there, everybody on this board is in trouble.

Apparently you haven't been noticing all the disclaimers at the bottom of posts.
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Old 03-10-2008, 07:31 PM   #77
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It's not the optimal (far from it) scenario, but if you have set up your 'buckets of money', as some of us have, one can weather a few years of down markets.
I have done the same but it sure is a pisser to be in this environment so soon after retiring. Some can easily look the other way and assume the markets will roll right on to another bull market, but I fear years of flat returns as we saw in the late 60's through the 70's.

Oh well, I've done all I can do. I have several years of cash to live off of along with dividend checks filling up the mail box. Hopefully the plan will work. Just gonna have to make a few extra trips to the liquor store.
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Old 03-10-2008, 07:50 PM   #78
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I have done the same but it sure is a pisser to be in this environment so soon after retiring. Some can easily look the other way and assume the markets will roll right on to another bull market, but I fear years of flat returns as we saw in the late 60's through the 70's.

Oh well, I've done all I can do. I have several years of cash to live off of along with dividend checks filling up the mail box. Hopefully the plan will work. Just gonna have to make a few extra trips to the liquor store.
You'll be fine. Maybe tighten up the LBYM for a while, just in case. Dividend checks filling up the mail box should help raise your spirits.
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Old 03-10-2008, 08:20 PM   #79
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Just gonna have to make a few extra trips to the liquor store.
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Dividend checks filling up the mail box should help raise your spirits.
Want2, sounds to me like Dawg has an alternate spirit raising plan.
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Old 03-10-2008, 08:26 PM   #80
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Remember Bernanke's 100% MO portfolio? Maybe a 50/50 mix of MO/BUD would be a good play in this environment....
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