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Old 09-19-2007, 08:13 PM   #41
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But all I get is rejection. "Not interested right now." WHEN will you be? When retirement is knocking on your door?
I suspect in the majority of cases people are trying to politely and efficiently end an unsolicited telephone call or sales meeting. For all we know, they may well already have retirement plans in place, and simply want to avoid a discussion about how you would do a much better job.

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Finances have always been a passion for me (I started saving for college when I was 4 yrs old)
Oh please. That reminds me of the following exchange in Wall Street:

Gordon Gekko: "Spare me the cheap sales talk, pal. It's obvious."
Budd Fox: "Excuse me, sir?"
Gekko: "You heard me".
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Old 09-20-2007, 10:07 AM   #42
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workin4me

Like it or not your age probably has alot to do with your lack of success so far. The people who you want to be your clients (RE: rich folks) don't want you as their "advisor" because of your lack of experience. They recognize you as, or believe you to be, a sales person rather than someone who provides sound financial advice.

I'm not that much older than you but I would want somebody with experience guiding my finances. Just imagine how somebody in their 40's or 50's with sizeable assets views you. Put yourself in their shoes. If you had 750k+ in assets, would you trust somebody in his/her 20's to tell you what to do with your money?
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Old 09-20-2007, 10:27 AM   #43
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Oh please. That reminds me of the following exchange in Wall Street:

Gordon Gekko: "Spare me the cheap sales talk, pal. It's obvious."
Budd Fox: "Excuse me, sir?"
Gekko: "You heard me".
Well, in a sort of way, I started saving for the future when I was young. I really don't remember it, but my Mom told me that when I was a kid and the ice cream man could come around, I'd ask her for money to buy something. But once she started giving me an allowance, for stuff like that, I'd start hoarding!

My Mom also bought a bunch of savings bonds for my future, starting right after I was born. But that was HER saving for my future, and not ME!
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Old 09-20-2007, 11:18 AM   #44
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I just started working as a financial adviser and I was so excited to help people plan for retirement. It was something I always thought about. Finances have always been a passion for me (I started saving for college when I was 4 yrs old)

But all I get is rejection. "Not interested right now." WHEN will you be? When retirement is knocking on your door?

What do I do to put some fire in their bellies? Or is there nothing I can do to make my generation see that they shouldn't hang all their retirement plans on Social Security and one 401K--if they have one?
Man, you're one funny adviser...........
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Old 09-20-2007, 11:22 AM   #45
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When I was a young pup, I did seek out a financial advisor. Mostly because I was curious what sort of advice they could offer beyond what I could fairly easily figure out myself.

I wasn't impressed. I remember saying something like "That's it? You just plug a few numbers into a canned spreadsheet for me? I can do that myself!" We agreed to go our separate ways.

So, I did care about retirement planning from a fairly young age, but I just maxed out the ol' 401-K and saved some more, and through the magic of compounding.... Wait, that wasn't me. I started my own business and sold it for a small fortune. But you get the idea.
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Old 09-20-2007, 11:23 AM   #46
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Since you believe in a healthy, robust portfolio, what, as a financial adviser, would you suggest belongs in a healthy, robust portfolio?
It's an ambush........don't hit that tripwire..........
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Old 09-20-2007, 11:24 AM   #47
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workin4me

Like it or not your age probably has alot to do with your lack of success so far. The people who you want to be your clients (RE: rich folks) don't want you as their "advisor" because of your lack of experience. They recognize you as, or believe you to be, a sales person rather than someone who provides sound financial advice.

I'm not that much older than you but I would want somebody with experience guiding my finances. Just imagine how somebody in their 40's or 50's with sizeable assets views you. Put yourself in their shoes. If you had 750k+ in assets, would you trust somebody in his/her 20's to tell you what to do with your money?
Most advisors I know that are really successful are in their 30's and 40's, and have 10-15 years experience.............
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Old 09-20-2007, 12:10 PM   #48
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Because your average person is now a idiot, who can tell you how many touchdowns Peyton tossed on Sunday, but cannot even point their own country out on a map.
If the average person is an idiot, consider that 50% of people are below average.

Make something idiot proof and the world will invent a bigger idiot.

FA are not bad, they need to see how to add value. Implementing a full scale financial plan will be difficult for someone with only $50 left at end of month.
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Old 09-20-2007, 01:07 PM   #49
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I'm not that much older than you but I would want somebody with experience guiding my finances. Just imagine how somebody in their 40's or 50's with sizeable assets views you.
From workin4me's post on the other thread: "No real investments started YET just a simple 401K offered by my husband's work".
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Old 09-20-2007, 02:17 PM   #50
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From workin4me's post on the other thread: "No real investments started YET just a simple 401K offered by my husband's work".
Really??

A case of do as I say, not as I do?
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Old 09-20-2007, 02:38 PM   #51
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From workin4me's post on the other thread: "No real investments started YET just a simple 401K offered by my husband's work".
ROTFLMAO..........

I'm having too much fun reading this to help this poster........
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Old 09-20-2007, 02:41 PM   #52
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Anyone want to wager if we'll ever hear from young Mrs. workin4me again?
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Old 09-20-2007, 02:41 PM   #53
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Really??

A case of do as I say, not as I do?
Here's my "advice":

Open a Roth IRA for you and your husband, and max it out.

Max out his Simple IRA at work.

Max out your 401K or whatever you have at work.

Put 6 months living expenses in a high-paying money market account.

Make extra principal payments on all your debt.

Then when someone asks what YOU'RE DOING to save for retirement, you don't have to lie.........
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Old 09-20-2007, 02:45 PM   #54
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Anyone want to wager if we'll ever hear from young Mrs. workin4me again?
She logged out and disappeared right after I defended her as somebody simply motivated by her own agenda. Sheesh, I was just trying to help.
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Old 09-20-2007, 03:28 PM   #55
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A case of do as I say, not as I do?
Or: those who can, do; those who can't, teach.
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Old 09-20-2007, 05:07 PM   #56
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Since you believe in a healthy, robust portfolio, what, as a financial adviser, would you suggest belongs in a healthy, robust portfolio?
I know! I know!

It depends...

that'll be $50 please... cash or paypal...
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Old 09-20-2007, 05:53 PM   #57
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Or: those who can, do; those who can't, teach.
And those who can't teach become journalists to explain what they don't understand to everyone else.

Mike D.
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Old 09-21-2007, 10:21 AM   #58
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that'll be $50 please... cash or paypal...
Ok, thanks. The check is in the mail.
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Old 10-01-2007, 08:10 PM   #59
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I just started working as a financial adviser and I was so excited to help people plan for retirement. It was something I always thought about. Finances have always been a passion for me (I started saving for college when I was 4 yrs old)

But all I get is rejection. "Not interested right now." WHEN will you be? When retirement is knocking on your door?

What do I do to put some fire in their bellies? Or is there nothing I can do to make my generation see that they shouldn't hang all their retirement plans on Social Security and one 401K--if they have one?

Just a thought...........there's more to being an FA than planning for retirement. Maybe you need to find out where they are financially. Are you prepared to help folks in other areas of thier finacial lives? Have you asked them what IS important to them NoW?
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