Reply to Do you have a financial advisor?

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[quote=Anonymous]I go back and forth on this. We had one and there were so many fees, not to mention the capital gains taxes that were were unprepared for in our very conservative portfolio. We pulled out and now are doing it ourselves. Granted, I know how to crunch numbers, have several financial calculators that I use. I've even learned how to do it myself long hand so I can better understand how it really works year after year, including adding crashes and corrections. Now that I understand it much better, I am even less inclined to go back to someone who will charge me to manage our money.

As a PP said, as your portfolio grows, while there are levels where the percentage (with most firms) goes down, it's still a lot of money. We are at a .75 v 1% level, headed toward a .66%, but even then, there are fees for different programs you can get involved in. 50K in a down year would be a lot.

Lastly, the key to all of this and the money supporting you in retirement is having it invested in a way that it generate the amount you need to live. That's the only reason I would consider a financial manager again.[/quote]

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