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Old 02-14-2014, 12:49 PM   #21
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...
I met an EJ guy once. ...

Once he realized I had an asset allocation of low expense index funds, and did not have $1M to invest, he just wanted to give me the $50 gift card to a local steak house, and bid adieu.
Sounds pretty wonderful to me!


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My EJ adviser is wonderful
I would also be interested in hearing what makes your EJ advisor so wonderful. Maybe I should seek one out, there's one (or more?) nearby? I wonder if they are all wonderful, or if it varies from office to office? If it varies, how would I determine which office would be best for me?

-ERD50
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Old 02-14-2014, 03:55 PM   #22
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Once he realized I had an asset allocation of low expense index funds, and did not have $1M to invest, he just wanted to give me the $50 gift card to a local steak house, and bid adieu.
How does one get them to give you the $50 gift card? Is that deal off if I call them?

Hey, I'm retired. I have time to listen to a BS spiel for a free dinner. It could become entertaining when I start asking awkward questions.
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Old 02-14-2014, 04:12 PM   #23
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How does one get them to give you the $50 gift card? Is that deal off if I call them?

Hey, I'm retired. I have time to listen to a BS spiel for a free dinner. It could become entertaining when I start asking awkward questions.
The best answer I can come up with is have the zip code and other demographics that these dudes are looking for. I think they purchase your name, age and zip from a mail order list, and then send the invitation. Most of the advisers freely admit that they know most in attendance are moochers. They only need one or two suckers from each dinner to replenish their client list.

I've sat through maybe a dozen or so presentations, and most are group dinners. The EJ one was most memorable. But hold on, I just checked my notes and he was an RJ advisor.

2nd most memorable was an advisor from ML who took me to a steak house where I had a real nice prix fixe. I learned interesting things about his experience. He had been an advisor to bank manager for Wachovia, and also a video store manager! Quite a combination...

I get one or two of these invitations per month, but really have lost my enthusiasm for the "free lunch."

Don't make me tell you about Fran Tarkenton...
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Old 02-14-2014, 04:54 PM   #24
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How does one get them to give you the $50 gift card? Is that deal off if I call them?...........
I wrangled a "free" companion airline ticket from Ameriprise for letting them give me a consultation. Bottom line was I threw it in the trash as it would have cost me more money to use it than to just go buy two regular airline tickets.
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Old 02-15-2014, 07:05 AM   #25
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The best answer I can come up with is have the zip code and other demographics that these dudes are looking for. I think they purchase your name, age and zip from a mail order list, and then send the invitation.
Now I know what I've been doing wrong. I get junk mail from investing newsletters and the like and I just throw it in the trash unopened. I'll have to ramp up my idle curiosity a bit next time I get one.
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Congratulations, tarmstrong!
Old 02-15-2014, 09:20 AM   #26
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Congratulations, tarmstrong!

I doubt you'll regret the change, as you step into the world of self-directed investing.

As a neophyte myself, lessons began when I had to finish off a seven-year wait in order to get out of two 403B variable annuities without paying surrender charges. (That's another story.) While waiting those few years, I started reading about index funds.......which, of course, led to Vanguard and all the reasons the company is so popular. (Especially with schoolteacher friends who had also been waiting out their annuities.)

Luckily, when I got a new job in a private school, 403B's were not available there, only a Vanguard 401K. So, during my last 12 years of teaching, I took more "baby steps" researching those funds, saving as aggressively as possible (in hopes of escaping my heavy work load ASAP). It worked!

After rolling over the 401K to a Vanguard IRA, the past 18 mo. of ER have provided time to learn and research more. The folks on this forum are extremely helpful and knowledgeable. Plus, I subscribe to Dan Wiener's newsletters and the Kiplinger Retirement Report (both helpful, too).

The confidence you gain by "doing it yourself" keeps you out of reach of various vultures* circling by, looking for an easy kill (or the carrion from someone else's kill). They won't get fees from you. You won't let them waste your time talking you into an investment that only benefits them. (As they did with my SIL...yet another story....) Instead, it will be you and your computer and your research........charting your own financial future.

Hey, if I can do it, anybody can. Most of my life was spent on Shakespeare, poetry, and composition theory.

Researching investments is just a different kind of reading (and effort to eradicate my own ignorance)!

Best Wishes, as Captain of Your Own Ship!





*Vultures-- those who send me invitations to free dinners and lunches; whoever keeps mailing me letters about the "truth about SS and Medicare"; FA's who cold call, wanting to "help me."

I'd rather watch a movie. (And read about investments on MY schedule; isn't that the purpose of ER?)
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Old 02-15-2014, 10:47 AM   #27
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An EJ adviser will send you a birthday card every single year.

No birthday cards from Vanguard.
You could send yourself a birthday card with a check in it for 1% of you asset total.
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Old 02-15-2014, 11:29 AM   #28
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You could send yourself a birthday card with a check in it for 1% of your asset total.
Yea, but somehow it is just not the same.
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Old 02-18-2014, 10:24 AM   #29
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My EJ adviser is wonderful
We are still waiting to hear what it is that makes your EJ advisor so wonderful. Please share! We all want more 'wonderful' in our lives.

-ERD50
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leaving EJ for Vanguard
Old 02-18-2014, 01:15 PM   #30
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leaving EJ for Vanguard

Ok guys everyone here has convinced me, Im going to leave EJ for Vanguard. I still don't know what all im going to invest in but I will continue to research and learn all i can. can someone suggest something for me to invest in at first. at least just to get all my money over to vanguard and i can move it around as i see fit and as my research leads me to pick different indexes and Mutual Funds.
also, suggestions on how phone call to EJ should start... may sound like a strange request, but i do like the guy( as a person) good guy, but im determined to do this for myself and im going to.. I guess i could go around him and contact EJ Headquarters but id rather not do that, plus i see him around town in the store and what not. Thanks. everyone here is a huge help. also i have about $70,000 i will be moving.
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Old 02-18-2014, 01:17 PM   #31
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also im 34yrs old married, 4 kids 12yrs and younger, earn 165,000 per year... wanting to retire early, I would like to pay for some of my kids college also. don't really know how much yet but some.. also would i max out a roth ira, then go traditional ira? thoughts are very appreciated.
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Old 02-18-2014, 01:25 PM   #32
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He's my brother
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Old 02-18-2014, 02:07 PM   #33
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Ok guys everyone here has convinced me, Im going to leave EJ for Vanguard. I still don't know what all im going to invest in but I will continue to research and learn all i can. can someone suggest something for me to invest in at first. at least just to get all my money over to vanguard and i can move it around as i see fit and as my research leads me to pick different indexes and Mutual Funds.
also, suggestions on how phone call to EJ should start... may sound like a strange request, but i do like the guy( as a person) good guy, but im determined to do this for myself and im going to.. I guess i could go around him and contact EJ Headquarters but id rather not do that, plus i see him around town in the store and what not. Thanks. everyone here is a huge help. also i have about $70,000 i will be moving.
Several years ago I rolled all my IRA's over to Vanguard. To start with I had all the money moved into Vanguard's money market fund. I decided what funds I wanted and made my transactions online buying into several Vanguard mutual funds over a period of time.

I recently moved an inherited IRA from EJ to V. I told the EJ guy I was moving it and was not even asked why. It went well and he did call me to double check that I wanted everything liquidated before the transfer to V. I did choose to have it put into Wellesley so I don't plan to invest this particular IRA in any additional funds. It is a relatively small amount and I will likely take the RMD from it for a number of years.

Good luck with your transition to V.
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Old 02-18-2014, 02:15 PM   #34
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Ok guys everyone here has convinced me, Im going to leave EJ for Vanguard. I still don't know what all im going to invest in but I will continue to research and learn all i can. can someone suggest something for me to invest in at first. at least just to get all my money over to vanguard and i can move it around as i see fit and as my research leads me to pick different indexes and Mutual Funds.
also, suggestions on how phone call to EJ should start... may sound like a strange request, but i do like the guy( as a person) good guy, but im determined to do this for myself and im going to.. I guess i could go around him and contact EJ Headquarters but id rather not do that, plus i see him around town in the store and what not. Thanks. everyone here is a huge help. also i have about $70,000 i will be moving.
Just call Vanguard they should do everything for you. Don't worry about the call with E.D., it happens every day. Yes you'll probably get a call, be pleasant, tell him you'd like to thank him for all his help, but your ready to DIY. After all it is your money. As far as liking the guy, he's rewarded for getting people to like him. Who knows he may be a real nice guy or a phony.
Best wishes,
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Old 02-18-2014, 02:26 PM   #35
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He's my brother
He may be a nice guy but he's still selling you high fee investments in addition to taking a management fee. Has he sold you a deferred annuity yet? He can make a fortune selling one of those.
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Old 02-18-2014, 02:40 PM   #36
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He's my brother
That hardly makes him qualified to give 'wonderful' financial advice. And he's not my brother (I assume), and probably not a brother to anyone else on this forum. So how does that help us?

I've got several brothers, some are wonderful in some ways, one is.... well, let's not go there, but he can't balance a checkbook. Seems like a shaky plan to me!

But I guess I am still curious - what has he done for you that is so 'wonderful'? Have his investments steadily outperformed alternatives on a risk-adjusted basis (after fees)? That's pretty wonderful, but I doubt you could substantiate that.


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Old 02-18-2014, 02:50 PM   #37
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Ok guys everyone here has convinced me, Im going to leave EJ for Vanguard. I still don't know what all im going to invest in but I will continue to research and learn all i can. can someone suggest something for me to invest in at first. at least just to get all my money over to vanguard and i can move it around as i see fit and as my research leads me to pick different indexes and Mutual Funds.
also, suggestions on how phone call to EJ should start... may sound like a strange request, but i do like the guy( as a person) good guy, but im determined to do this for myself and im going to.. I guess i could go around him and contact EJ Headquarters but id rather not do that, plus i see him around town in the store and what not. Thanks. everyone here is a huge help. also i have about $70,000 i will be moving.

Hi! I just moved our IRA from Primerica (yikes!) to Vanguard. I called Vanguard and they assisted me with the move. I have everything invested in target date retirement funds for now. I wanted to make it simple. I may change that up eventually or I may not, time will tell. I have been very happy with the move so far. Surprisingly, I had no calls from our PA advisor (who was also a really nice guy btw) trying to talk us into staying. Good luck!
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Old 02-18-2014, 02:51 PM   #38
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He's my brother
This made me smile

I wish someone in my family knew how to cut hair.
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Old 02-18-2014, 03:34 PM   #39
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.......... I still don't know what all I'm going to invest in but I will continue to research and learn all I can. Can someone suggest something for me to invest in at first. .........
Putting your money initially into the money market fund is a good suggestion. Also, you could do a lot worse than simply picking a Target Retirement fund that has an asset allocation (ratio of stocks to bonds) that you are comfortable with. After that it is on autopilot until you retire.
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Old 02-18-2014, 03:48 PM   #40
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good info guys thank you.
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