davebarnes
Thinks s/he gets paid by the post
@Jerry1
Do not allow them to trade without your explicit permission for each and every action.
Do not allow them to trade without your explicit permission for each and every action.
.
On a smaller scale, I'm also concerned about DW. I'm concerned (and so is she) about what would happen if I'm not here. This will give her some continuity. It's not likely to happen soon, but one never knows.
In addition to the on-going ~1% fee?I did pay a one time fee for a Financial Analysis which was very helpful but they do not do hourly. ...
....
On going hand holding may not be necessary, but if they prove their value, I'd probably stick with them. ....
.... Not sure how to respond to the members of this forum comment because I'm not sure who "them" is in your comment. My point in saying that members here have been helpful was to thank everyone for their input on my financial life this past year or so. The input of the forum members has helped me understand a lot. That in turn helped me work better with the FA. For example, it is helpful to learn from this group about sequence of returns risk. Then, when the FA brought it up, it was a better conversation plus it was good to see that he brought it up, that he had some understanding of the issue as he handles my portfolio.
As for why do I need them? I need them (the forum members) for some personal interaction and broad based input and education. I need them (the FA) for my specific situation and to handle something I do not want to handle.
On a smaller scale, I'm also concerned about DW. I'm concerned (and so is she) about what would happen if I'm not here. This will give her some continuity. It's not likely to happen soon, but one never knows.
....
One concept perhaps is to ask the FA for some fund benchmark, so you can match up their performance against the benchmark including the fees.
In addition to the on-going ~1% fee?
Do you feel like you are getting 'flogged' by the posters here? Let us know.
-ERD50
Also, by doing this, be careful not to shift your responsibility of your portfolio to someone else. You have the most interest in your health, parenting, your financial resources, etc. Some things human nature should not delegate...or assume others are more interested in it then you.
Wish you success.
This caution has been mentioned by a few. Point accepted. I’ll remain engaged enough to know exactly what’s going on. Thanks.
So this is why you are giving up your Fidelity account and dropping your Fidelity 2% rewards VISA card?
I just don't see it that way at all. My guy makes me more dough than the S&P 500 index including paying his fee. Plus the big dividends to blow.
I hope that’s the case. It was mentioned in another post and I would like to make sure I have some reasonable benchmark to evaluate him on. The S&P would not be a good fit given the conservatism built into my plan. I’ll need something that is closer to a 40% equity 60% bond index. Did I say I was conservative (i.e. very afraid of sequence risk right now). I expect my equity percentage to increase over time.
While I do not care what anyone does with his/her money, 1% is really a big bite. Since I own my home outright, 1% of my portfolio would be very similar to what I spend on all the rest of my life.
I think I would just spend a day reading and deciding what broad low cost equity funds I wanted, and the rest would be Bills up to 1 year. When interest rates get absurdly high again, I would put some of the bills into govt bonds.
Definitely not the best system, but pretty good and likely better net than paying an FA, who may do something very similar anyway.
Ha
Returns are 0.03% (1-year), 4.98% (3-year), 5.33% (5-year), and 8.46% (10-year). In times when inflation remains low, you're at least keeping slightly ahead of inflation, but if inflation ever rares its head and rises above 5%, this fund will likely not help your money maintain it's purchasing power, IMHO. It has an (IMHO) overly conservative 60.29% bonds and 37.64% stocks, which given bond returns of late, is insufficient to do much. And 2.07% in short-term reserves. It also holds only 72 stocks, so is not very diversified, compared even to the S&P500. It does hold 1033 bonds.
If this is in a taxable account, returns after taxes are 2.49%, ITD, and 2.38% for 10-year. Definitely NOT keeping up with inflation.
Just my 2 cents.
Thanks...sorry, I deleted my post as some of the numbers quoted above are inaccurate.Most people that have the fund are thinking defensively with the 2008 return of -9.84%. It won't keep up with the Total Stock Market Indexes in the good times or bad (-36.99 in 2008 for VTSAX)
It is not a magic fund, but if you want part of your money in a balanced fund, this is a well managed fund.
Not recommended for a taxable account for sure.
This is an unusual year for bonds, so the recent returns are not great.
Foreign Indexes look bad this year too, but the TAX Loss harvesting has been one advantage.
VW
Jerry and Robbie have a much better chance of getting a Christmas Card from an FA than you.