Reply to if you have a financial advisor-question on fees from mutual funds

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Watch "American Greed" evenings on CNBC. Every year thousands of Americans have their wealth stolen from them by thieves who claim to be financial advisors.

Never use financial advisors!

At best they will take 1-2% of your total portfolio wealth every year whether you make money or not. After twenty years you'll have little more wealth than the actual dollars you have invested. The bulk of your investment profits will have been siphoned off in fees going to you Financial Advisor.

At worst you may be dealing with thieves like Bernie Madoff who will rob you off everything you own.

Start your own brokerage account and do it yourself.

Why would anyone not manage their own money?  Are you not a very smart person? Do you not know about or understand the world around you?  Do you really believe a paid Financial Advisor cares about you, your family, and your wealth as much as you do yourself?  Of course not!

Everyone should have a brokerage account! Everyone should manage their own wealth and everyone should be a capitalist. [/quote]

THIS, if you are worried just do an index fund or one of those low fee trowe or tiaa funds. Some of the funds have a target retirement date and adjust automatically.

In the end you want low fees and no advisory fees because the gains made would be thrown in the toilet.[/quote]

someone investing in index funds is going to be better off than someone who read some books and opened a brokerage account.  this is true 99 times out of 100.  don't waste your time learning about investing theories and all that horseshit. just buy some cheap vanguard index funds. [/quote]

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