Fredflintstone
TUG Member
- Joined
- Jul 15, 2018
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I disagree that everyone should handle their own investing. We have been very pleased with our financial adviser. We follow financial news and have a decent understanding of various investment options, but he has broadened our portfolio to include some options we wouldn't have ventured into on our own that have done well, while still keeping it within a reasonable level of risk. We pay a fee based on the size of our portfolio but negotiated a lower rate than originally suggested, so our growth isn't significantly affected by his fees. Meeting with him quarterly or so also forces us to focus and reassess our investments more often than we likely would on our own. We don't churn the portfolio but do discuss if we should consider moving our of underperforming assets. We are financially in a much better position that we would be without his advice.
A good financial advisor is a gold mine for many of the points you mentioned. My 2 advisors live and breathe the stuff so they know where to diversify when. My fees are a mere .05 (half of one percent) percent and they both are averaging 10 percent (after fees) in good and bad times. I’m not getting rich quick but I am getting rich. At 55, most of my 3 MM savings is credited to their prudence and knowledge.
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