youbet
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
anyone can choose to use whichever brokerage works best for them.
+1
anyone can choose to use whichever brokerage works best for them.
Only if they know the name of the fund, exp. ratio and if it is an actively managed fund or and index fund.
I've seen some pitches from Fidelity that feature high fee funds, no index funds. Other than missing FE loads and 12B1 fees the cost would make old ed jones happy.
Pretty much everybody at every megacorp. They pick something for their 401k funds and let it ride. Wouldn't that count?
My megacorp links their 401k to Financial Engines (FE). According to megacorp promotional material, 35% of the employees pay fees to FE to invest their 401k and I should join them. From what I've seen, they invest in a balanced mix of high cost active funds to replicate our low cost target date fund options. Their literature says they beat the average investor but they cannot say they beat index funds or our target date funds. When I ask why they are using FE instead of a target date fund, they usually say they want to be diversified and not have all their eggs in one fund.When I worked for a megacorp everyone (including me) would hear about a fund or two and invest money there. No knowledge of investing at all. Word of mouth.
Maybe none. I make all of the investment decisions myself, but use my friend/advisor as a sounding board. He gets the transaction fee (discounted since I use the online service), but he makes no trades himself. Does that mean I am not a DIYer? I know some others who act in a similar way to greater or lesser degrees.
Have the day you deserve, and let Karma sort it out.
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I was reading an conversation on how to find a good FA. One of the posters mentioned that with a little time a person could do it himself and avoid the fees. The original poster immediately replied that she was 'not good at math' and therefore needed the advisor.
+1. I doubt your average Joe considers making spreadsheets of projections fun.Remember that we on this forum set the bar pretty high with regard to math skills. We are mostly well-educated introverts, and introverts tend to think math is actually interesting. Most of us have skills well beyond those needed to understand a statement like "If I allocate 40% to bonds and 60% to stocks, my portfolio has an X% chance of surviving 40 years", but I bet that the majority of the population does not have the math skills to really understand what that means, much less to do the legwork, e.g., FireCalc, needed to figure that out.
with a little time a person could do it himself and avoid the fees. The original poster immediately replied that she was 'not good at math' and therefore needed the advisor.
Remember that we on this forum set the bar pretty high with regard to math skills. We are mostly well-educated introverts, and introverts tend to think math is actually interesting. Most of us have skills well beyond those needed to understand a statement like "If I allocate 40% to bonds and 60% to stocks, my portfolio has an X% chance of surviving 40 years", but I bet that the majority of the population does not have the math skills to really understand what that means, much less to do the legwork, e.g., FireCalc, needed to figure that out.
Remember that we on this forum set the bar pretty high with regard to math skills. We are mostly well-educated introverts, and introverts tend to think math is actually interesting. Most of us have skills well beyond those needed to understand a statement like "If I allocate 40% to bonds and 60% to stocks, my portfolio has an X% chance of surviving 40 years", but I bet that the majority of the population does not have the math skills to really understand what that means, much less to do the legwork, e.g., FireCalc, needed to figure that out.
Granted the group here is a pretty nerdy bunch but the math skills needed to understand and DIY investing are pretty basic. The folks here that are DIYers have the desire to understand how the system works and utilizes that information for their benefit. Many have the intelligence but just not the desire to be the man in the arena and maker of their own financial destiny.
Granted the group here is a pretty nerdy bunch but the math skills needed to understand and DIY investing are pretty basic. The folks here that are DIYers have the desire to understand how the system works and utilizes that information for their benefit. Many have the intelligence but just not the desire to be the man in the arena and maker of their own financial destiny.
Granted the group here is a pretty nerdy bunch but the math skills needed to understand and DIY investing are pretty basic. The folks here that are DIYers have the desire to understand how the system works and utilizes that information for their benefit. Many have the intelligence but just not the desire to be the man in the arena and maker of their own financial destiny.
I agree with you 100% on this. I w*rked in IT and everyone in the department had basic math skills plus some, but had no desire to learn.