Anonymous wrote:OK, so I am one of those people who use a fee only financial planning firm at 1% for the first $1M managed and a sliding percentage thereafter. This fee does not just cover the accounts managed but also managing

annual household budgets
all estate documents
all insurance coverages
all college tuition cost tracking
detailed further forecasts (and I mean detailed, everything from what to spend on a car five years from now to potential wedding funding)
all retirement accounting (projections on what to pull from which account and when)
graphing, charting and reporting all of the above quarterly
and any q at any time I have one related to any of the above

For us, it is worth it.

For us, it is more than worth it.

You accidentally left out those other things your broker takes of:

Hair cuts
Pedicures
Walking your two Afgan Hounds
Cleaning the oceans of plastic pollution

Once you hire a financial planner it will be pretty difficult to end this relationship you never needed in the first place

Zero financial planners. - you just don't need them!

Open a brokerage account at a discount broker like Schwab or Fidelity.

Don't pay more than $4.95 per trade.

Start with diversified ETFs like Vanguard 500. Automatically, reinvest your dividends. Those purchases are free of charge and will even by you fractions of shares if your dividend doesn't cover the price of a full share.

Some ETFs and corporations pay dividends every month so the compounding quality is slightly accelerated when you dividend reinvest.

Watch Cramer on CNBC at 6 PM. He's a bit silly and bombastic, but he has some good ideas mostly put in layman's terms. Many people make fun of him, but I've made a ton of money based on his recommendations.

You are smart and you can do this!

I won't make you rich and neither will Cramer, but we can help you with the basics.

Once you get started started you will not believe how easy it is to successfully invest and become a capitalist.

You need to start and the sooner the better. It's like rolling a snowball over-and-over again. It's not easy and it takes patience - made even thirty years. It starts small but as it grows the gains become exponential.

Thirty years may sound like a long time to save and invest to become a millionaire or more. But, know this fact whether you invest and take control of your finances now - or perhaps never - those thirty years are still going to pass and you are still going to be sixty someday.

It's your choice to be an investor working towards having the freedom of financial independance or life of life of borrowing money and selling your labor to the highest bidder.

If you have questions - just ask! However I'll never tell you what you should buy.

Anonymous wrote:OK, so I am one of those people who use a fee only financial planning firm at 1% for the first $1M managed and a sliding percentage thereafter. This fee does not just cover the accounts managed but also managing

annual household budgets
all estate documents
all insurance coverages
all college tuition cost tracking
detailed further forecasts (and I mean detailed, everything from what to spend on a car five years from now to potential wedding funding)
all retirement accounting (projections on what to pull from which account and when)
graphing, charting and reporting all of the above quarterly
and any q at any time I have one related to any of the above

For us, it is worth it.

For us, it is more than worth it.

+1

There’s a difference between a flat fee advisor for the totally clueless and an actively managed portfolio where you pay ac% of your assets. The former might be worth it, the latter usually is not and can’t beat the total market over time.

You can do it yourself but if you want a one-time, almost set it and forget it approach, use the Napfa.org link to find a reputable planner.

Anonymous wrote:

Anonymous wrote:
The stock market long term average gain is only 5% annually.. If you pay an advisor 1% of the entire value of your stock portfolio each and every year you'll retire with peanuts.

An advisor can easily make up that 1% difference through tax loss harvesting and regular portfolio balancing. Of course, you can do that too if you remember to check on this every week or so.. but that takes time and research time that not everyone has.

Just like mowing the lawn and auto maintenance. I'd rather spend that time with my family.

then there's a problem w/ 4 out of 5 advisers couldn't beat the index returns. odds are against you.

Anonymous wrote:Please just do it yourself!

No one cares more about your money than you do yourself.

Do not wash your money through a financial advisor who has no greater awareness about finances than you do.

Open a brokerage account with Schwab or Fidelity. Start with index funds like Vanguard 500. Get the CNBC app. and the yahoo app is very good as well. Identify the areas of the economy that interest you.

You are a smart person. The market is your personal vehicle to great wealth but its interest and fun too. Use your imagination. What kind of products do you think will be popular five years from now.

I'm interested in electric vehicles and lithium batteries more so than Tesla. I'm also interested in Chinese companies that sell products to their large emerging class of consumers. Those truly are not my recommendations, just examples of why being is the stock market is fun for me.

Please just do it yourself!

You are smart - you can do this yourself!

Is that you, honey? (You do sound like my DH.)

I agree. Unless you have a ton of money and you want to declare bankruptcy instead of paying your debts or you do not want to pay taxes (like Trump), no need to get a fin. advisor. Indexed mutual funds are the way to go.

Finally, in the stock market don't let your actions be driven by greed or fear.

^ * future forecasts

OK, so I am one of those people who use a fee only financial planning firm at 1% for the first $1M managed and a sliding percentage thereafter. This fee does not just cover the accounts managed but also managing

annual household budgets
all estate documents
all insurance coverages
all college tuition cost tracking
detailed further forecasts (and I mean detailed, everything from what to spend on a car five years from now to potential wedding funding)
all retirement accounting (projections on what to pull from which account and when)
graphing, charting and reporting all of the above quarterly
and any q at any time I have one related to any of the above

For us, it is worth it.

For us, it is more than worth it.

Carbon fiber makes aircraft lighter, faster, and fuel efficient.

Airline traffic in Asia is growing by leaps and bounds. Carbon fiber is in high demand for new Asian routes. These aircraft are so cost efficient that many airlines are prematurely retiring or selling older aluminum models to purchase new carbon fiber composite component aircraft.

This aircraft manufacturer will continue being highly profitable for decades to come.

There’s an in between though. There are fee only planners and it may be worth an occasional consultation even if you do a lot yourself. Also, I have money in Schwab and have a good Schwab advisor I meet with from time to time.

I have friend who works for a small financial management firm . There are about 10-12 employees. They manage about $15 billion in assets
- other peoples money.

The firm grosses about $15 million each year. Divide that number by ten or twelve and you'll quickly understand why they don't want you to manage your own investments

Thats not bad work if you can get it.

Hang on to your hard earned money and never give away your years of gradually and patiently accumulated investment profits to a self-proclaimed financial manager.

The reason the stock market is the perfect vehicle to acquire great wealth is the annual compounding of your growth and earnings. The value of your shares grow every/most years and you purchase more shares with the dividends you've collected.

It doesn't happen quickly but you wake up one morning when you are about sixty and you say who, I'm fairly wealthy.

This will only happen if you retain all of your personally invested money gains and dividends.

Now think about this for a minute.

Financial Advisors charge you 1% of your entire wealth every year. That's 1% of your life savings every single year. That's not 1% of your 2018 gains. That's 1% of all of the money you brought in in the first place for them manage. You will pay them 1% of every cent you own every single year from now until you die.

They take 1% of thousands of peoples wealth every year for picking a few stocks for you.

If you give someone 1% of your entire wealth every year, you will not retire with much more than the cash you invested every year.

The exponential wealth you should have accumulated will have been siphoned off drip-by-drip, year-by-year by your financial advisor.

You can be a capitalist. Working people can retire wealthy, but only if they manage their own investment.

If you don't retire as a wealthy capitalist it's because your financial advisor did.

Schwab and Fidelity charge $4.95 per trade. That is thousands of times cheaper than "financial advisors" will charge you.

Financial Advisors will drain your wealth and in thirty years you'll retire with inflation adjusted peanuts.