SumDay
Thinks s/he gets paid by the post
- Joined
- Aug 9, 2012
- Messages
- 1,862
Interesting article, which I forwarded to my kids:
10 things rich people do better than you - MarketWatch
This got me thinking: Am I/we rich? Are you rich? By the standards of the rest of the US population, yes, I guess I am. But I don't feel like it. Not sure how much I'd need to consider myself rich. We now have 2x more saved that we thought we'd need, and I'm still not comfortable, even though FireCalc says we're good to go. I need to let this soak in a while, I guess.
And, this from the article was also about the only thing I sort-of took exception with:
We do have a FEE-ONLY financial adviser, who we paid <$2K for our initial consultantion and evaluation. It was well worth it. I can get a periodic tune-up for $400 - that would include rebalance suggestions, etc. The rest is up to me. To me this article seemed to imply more is better. As always, YMMV. Mine sure does.
10 things rich people do better than you - MarketWatch
This got me thinking: Am I/we rich? Are you rich? By the standards of the rest of the US population, yes, I guess I am. But I don't feel like it. Not sure how much I'd need to consider myself rich. We now have 2x more saved that we thought we'd need, and I'm still not comfortable, even though FireCalc says we're good to go. I need to let this soak in a while, I guess.
And, this from the article was also about the only thing I sort-of took exception with:
The best way to protect yourself and get a step up on your financial goals is to first invest in a team of financial professionals. This means hiring a qualified and experienced financial adviser, accountant and in complex cases, an estate planner. Yes, working with pros will cost you, and you can still do some DIY investing, but their objectivity, expertise, personalized guidance and ongoing monitoring can be well worth it (and relieve you of the huge burden of figuring it all out on your own).
We do have a FEE-ONLY financial adviser, who we paid <$2K for our initial consultantion and evaluation. It was well worth it. I can get a periodic tune-up for $400 - that would include rebalance suggestions, etc. The rest is up to me. To me this article seemed to imply more is better. As always, YMMV. Mine sure does.