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Reply to "Am I overpaying my financial advisor?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]An advisor is not there to lose your money. They go safe, but your money is lost to inflation and fees. Can you find 2019 annual return? Not 'since', but just for 2019. [/quote] OP here. In 2019 it was 20.8%. [/quote] Are you happy with that? S and P 500 funds, which are fairly safe and need no advisor, went up over 30% in 2019. I don't think you are completely happy or you wouldn't be here. I made 144% with one asset since August and 44% since February 28 with another stock. i missed out on a lot more. so, it wasn't like I got lucky. Lucky would have been buying the better one. I knew they were going up. I only have about 6 stocks/crypto. With so few, I have time to study them and keep an eye on them. I'm not saying you need to go that extreme. I actually don't think mine is extreme at all. I'm in the top assets of the day. Since you have quite a lot of money, there is not reason why some of it can't take some more risk. Putting everything in Voo is already a good move. Get that clearance for Voo. Get rid of your advisor and done. Once I told an advisor that I was willing to lose the $13k I gave them and they put me in a stock fund. How in the world do I ever lose money in the stock fund? That's their idea of risky while mine was one stock and/or crypto. I did not ask them to protect me. I asked them to risk it all and they didn't. At minimum, make sure they follow your risk tolerance with some of the money. [/quote]
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