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Reply to "Recommend your financial planner"
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[quote=Anonymous]STOP RIGHT NOW - DON'T GO ANY FURTHER !!! Do it yourself - it's not very difficult. At best a financial planner will charge you 1% annual fees. Other expenses will be another 1-2% annually. If the market only gains 5% annually you lose more than half of your annual profits in fees and you never get rich doing that. Unless you are a billionaire, you don't need a financial planner. I say this a once a week and to the best of my knowledge no one ever listens to me , which is the story of my life , but here I go again. Google Dividend Achievers and Dividend Champions. Those two lists are loaded with companies which have increased their dividends. You'll be familiar with most of these of companies in which you done business during your entire lives and also some in which you are not familiar. Divide your investable funds between 30 or forty companies in order so if one crashes you'll not be hurt severely. Set up your account so your quarterly dividends are automatically reinvested in those compose and there will be no brokerage fees and using this method you can purchase factional shares as well. I wouldn't because I'm addicted to watching the market , but if you wanted to, you could forget your account and check on it on seven year and your wealth will have doubled. You can also accumulate your dividends and purchase shares in different companies as well. Long term options are ore risky, but they have huge potential for gains. But, the key for little guys like us is to be an investor and not a day trader. You are smart !!! Think about the United States in aggregate. Is the population expanding ? Will that create a demand for housing, autos , and appliances and if so will people need to finance these purchases during the next decade?? If so whosnufactures these goods and who provides the raw material and transportation and energy? Is Apple a good investment ? Do they have competition? Will Microsoft enter the tablet market or will Samsung out sell them in Smartphones in China. Sure, it takes a bit of thought and effort, but you can do it. One thing I'll promise you is that if you have a financial advisor you will pay half of you profits in fees which will prevent you from becoming wealthy or they will rob you blind. Watch American Greed on CNBC at 8 PM. YOULL BE AMAZED HOW MANY PEOPLE HAVE BEEN ROBBED BY FAMILY MEMBERS AND FINANCIAL PLANNERS WHO THEY TRUSTED. Open your own brokerage account at schwab, Etrade, Fidelity Scottrade, etc. watch CNBC, check your investments online, read articles online at Seeking Alpha. Have confidence in yourself and know this is not rocket science. There was a time when investing was a crap shoot because insiders had all of the inside information and we had none. This is no longer true. There are times in the premarket a when CNBC will break news so early that savvy investor can actually act faster than the hedge funds. You too can become a wealthy capitalist, but you must do it yourself!!![/quote]
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