Youngblood
Recycles dryer sheets
Hello all! I was hoping I could pick your brains a bit and get some advice for my mom.
My mom recently told me about her retirement account at ING, and I was taken back at the amount she had (just below $150K). She will qualify for SS in the Fall, so that should help her sustain the savings for the short term, but this isn't even what I need to ask the group advice for.
She informed me that she uses financial advisors to run her ING account and that they charge her approximately $600 a year to run it. I didn't get any specific info from her on her retirement account (investments), or her rate of return, but I didn't think it was necessary for her to have people run her account.
So my question to the group is, should someone that knows very little about investing have financial advisors run their account, or should I just sit down with her to review the available funds to invest in and see which ones look the most promising (diversification, bonds vs. stocks, rate of return, etc..)? Does anyone have good or bad experiences with financial advisors?
Thank you in advance for any assistance. It just frightens me to think about my mom struggling
My mom recently told me about her retirement account at ING, and I was taken back at the amount she had (just below $150K). She will qualify for SS in the Fall, so that should help her sustain the savings for the short term, but this isn't even what I need to ask the group advice for.
She informed me that she uses financial advisors to run her ING account and that they charge her approximately $600 a year to run it. I didn't get any specific info from her on her retirement account (investments), or her rate of return, but I didn't think it was necessary for her to have people run her account.
So my question to the group is, should someone that knows very little about investing have financial advisors run their account, or should I just sit down with her to review the available funds to invest in and see which ones look the most promising (diversification, bonds vs. stocks, rate of return, etc..)? Does anyone have good or bad experiences with financial advisors?
Thank you in advance for any assistance. It just frightens me to think about my mom struggling