W2R
Moderator Emeritus
I have started getting distributions from my inheritance, which quite honestly I never expected and never figured into any ER plan (until recently when I started making three plans to cover various possible net worths upon ER).
One distribution was via a check, which will clear on Wednesday. So, I am in the unexpected, though nice position of having a ridiculously large checking account balance for a few days, until it clears and I can wire it to Vanguard.
So last night, I got a phone call and the following conversation ensued:
Investment guy: "I'm calling from xyz bank."
me: "Thanks, but I'm not interested in a loan or credit card and someone else called me about that yesterday."
Investment guy: "Actually, we are calling you because we always call when a bank balance has changed so drastically in such a short time. We'd like to schedule an appointment to talk to you about investing through us."
me: "No thanks, I plan to wire everything to Vanguard later this week."
Investment guy: "Who is your financial advisor, if I may ask?"
me: "Nobody, I plan to invest online through Vanguard"
Investment guy: (sarcastic tone) "And how has that worked for you in the past?"
me: "I will avoid paying fees to an advisor."
Investment guy: "I'll send you my card and when you want to set up an appointment, give me a call."
me: "uh huh - - don't bother - - bye"
Now the thing that I think is slightly unscrupulous is that he has my bank records in front of him, apparently, so he knows perfectly well that I haven't uploaded much at all to Vanguard until last summer when the market started tanking. (Up through 2006 I was paying off my house and didn't have much to invest outside of retirement funds).
I think he is trying to prey on my insecurity, find a chink and insert himself into my financial planning. I can't help but think that a man would not have been pressured like I was, though maybe I'm wrong about that.
Even if I wanted a financial planner, I wouldn't choose one from my bank that called me on the phone like that.
And yes, it works!! Even though logic tells me that I am an intelligent person who is reading and learning as fast as I can, and I CAN do this myself, I don't really know that for a fact at this point and it is easy to feel really, really timid about it.
Still, I think that my present investment plan (45% equities, 55% fixed, equities in broad index funds and Wellesley) will work better for me than putting it all in a Vanguard retirement mutual fund, and even that would probably be at least as good as what this guy might offer. Probably.
One distribution was via a check, which will clear on Wednesday. So, I am in the unexpected, though nice position of having a ridiculously large checking account balance for a few days, until it clears and I can wire it to Vanguard.
So last night, I got a phone call and the following conversation ensued:
Investment guy: "I'm calling from xyz bank."
me: "Thanks, but I'm not interested in a loan or credit card and someone else called me about that yesterday."
Investment guy: "Actually, we are calling you because we always call when a bank balance has changed so drastically in such a short time. We'd like to schedule an appointment to talk to you about investing through us."
me: "No thanks, I plan to wire everything to Vanguard later this week."
Investment guy: "Who is your financial advisor, if I may ask?"
me: "Nobody, I plan to invest online through Vanguard"
Investment guy: (sarcastic tone) "And how has that worked for you in the past?"
me: "I will avoid paying fees to an advisor."
Investment guy: "I'll send you my card and when you want to set up an appointment, give me a call."
me: "uh huh - - don't bother - - bye"
Now the thing that I think is slightly unscrupulous is that he has my bank records in front of him, apparently, so he knows perfectly well that I haven't uploaded much at all to Vanguard until last summer when the market started tanking. (Up through 2006 I was paying off my house and didn't have much to invest outside of retirement funds).
I think he is trying to prey on my insecurity, find a chink and insert himself into my financial planning. I can't help but think that a man would not have been pressured like I was, though maybe I'm wrong about that.
Even if I wanted a financial planner, I wouldn't choose one from my bank that called me on the phone like that.
And yes, it works!! Even though logic tells me that I am an intelligent person who is reading and learning as fast as I can, and I CAN do this myself, I don't really know that for a fact at this point and it is easy to feel really, really timid about it.
Still, I think that my present investment plan (45% equities, 55% fixed, equities in broad index funds and Wellesley) will work better for me than putting it all in a Vanguard retirement mutual fund, and even that would probably be at least as good as what this guy might offer. Probably.