Anonymous wrote:Or simplify things by investing in low cost Vanguard index funds: domestic stock fund, international stock fund, bond fund. Figure out what percentages you are comfortable with and let the money sit there, but rebalance at least once a year so that your percentages stay approximately where you want them. Most private investors do not beat the index funds.

+1.

Visit bogleheads.org for more info on this approach.

Anonymous wrote:Open your own brokerage account at schwab, Etrade, Fidelity Scottrade, etc. watch CNBC, check your investments online, read articles online at Seeking Alpha.

You too can become a wealthy capitalist, but you must do it yourself!!!

13:33--NP here--wondering if you have any advice for me? I have a family member, age 22 inherited $250K, not seeking a degree that has asked me for advice on investing it. I'm overwhelmed.

Or simplify things by investing in low cost Vanguard index funds: domestic stock fund, international stock fund, bond fund. Figure out what percentages you are comfortable with and let the money sit there, but rebalance at least once a year so that your percentages stay approximately where you want them. Most private investors do not beat the index funds.

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!!!

PP here: thanks so much.

John Vyge, Hillebrand Financial http://www.hillebrandfinancial.com/

BUMP.

Hi! Does anyone have any personal recommendations for a fee only financial planner in NOVA? Thanks so much!

Anonymous wrote:

Anonymous wrote:Try the credit union first. They're free.

That's not financial planning.

Search on www.NAPFA.org or www.cambridgeadvisors.net and read carefully. Fee-only is very different from fee-based, and anyone who accepts any compensation other than the fees you pay them directly is a salesperson.

Expect to pay at least $5,000 a year (a lot more if your situation is complex) for a good comprehensive planner. The fee may be billed directly or as a percentage of assets under management (in which case you'll probably need at least $500K in invested assets to be accepted as a client).

A financial planner recommended this to me and I have found it to be effective. He said that the vast majority of people can get most of their needs met this way. OP has nothing to lose by going that route first and THEN consulting a fee-based consultant later.

Anonymous wrote:Try the credit union first. They're free.

That's not financial planning.

Search on www.NAPFA.org or www.cambridgeadvisors.net and read carefully. Fee-only is very different from fee-based, and anyone who accepts any compensation other than the fees you pay them directly is a salesperson.

Expect to pay at least $5,000 a year (a lot more if your situation is complex) for a good comprehensive planner. The fee may be billed directly or as a percentage of assets under management (in which case you'll probably need at least $500K in invested assets to be accepted as a client).

bump

Try the credit union first. They're free.

What is a reasonable fee for a no sales financial planner?
thx

Tom Conway in Rockville.

Chris Patterson

Not a "sales" approach. He is a CPA and a Personal Financial Specialist (PFS) - which I think is only granted to CPAs that specialize in financial planning. He takes time to listen and then explains things in great detail.

So there are a lot of "recommend your fee only financial planner" recommendations on this thread. Who have you used and would you recommend them?