Interviewing a Financial planner?

Discussion in 'Bad Dog Cafe' started by fendertx, Oct 10, 2019.

  1. schmee

    schmee Doctor of Teleocity Silver Supporter

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    Been there done that. Do your own advising. In the end those guys don't really do any more than your advisor at somewhere like Fidelity will do, for free.
    If you must get an advisor, get only one who profits when you profit.
    I have had advisors, none of them foresaw recessions, none of them called telling me to get out when one started, all of them made profit even when I lost money. Some made profit quarterly based on how much they managed, some of them made commissions.
    They all make you profits when the market goes up, they all lose money when it goes down.
     
  2. fendertx

    fendertx Poster Extraordinaire Silver Supporter

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    My enemies are all too familiar
    They're the ones who used to call me friend
    I'm coloring outside your guidelines
    I was passing out when you were passing out your rules
    One, two, three, four
    Who's punk? What's the score?


    I am sell a out, LOL
    I have an acquaintance in a fairly popular Punk band& we talk about carpools, kids, bills, and the weather.

    P.S. (here is your punk content) being from Houston I like the Bickley version of Boxcar more that the Jawbreaker version
     
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  3. FenderGuy53

    FenderGuy53 Poster Extraordinaire

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    As one who has "been there, doing that", please allow me to make a few observations, which may be helpful:

    Firstly, to educate yourself in financial planning, grab a copy of Andrew Tobias's book, "The Only Investment Guide You'll Ever Need", in print since 1978; it's a very easy read - and extremely edifying!

    Secondly, financial planners don't work for free, and what THEY do, YOU can do.

    Thirdly, BONDS are an ESSENTIAL part of any long-term investment strategy.

    Fourthly, over a typical pre-retirement investment period, stocks and bonds will OUTPERFORM bank deposits every time!

    Basic investment strategies:

    1. Start early. The miracle of compounding is seen toward the END of your investment timeline, not the BEGINNING.

    2. Be disciplined. The market moves up and down. You're in this for the long haul, so don't panic! In fact, down markets are the best place to ADD to your investment portfolio!

    3. Invest in NO LOAD mutual funds, e.g., Vanguard "no load" funds (for help with fund selections, check out The Independent Advisor for Vanguard Funds).

    4. Establish your STOCKS/BONDS asset mix as follows: STOCKS % = 100 - current age; BONDS % = current age.

    My wife and I have been using this investment strategy since the late 70's. It works if you work it!

    Good luck! ;)
     
  4. FenderGuy53

    FenderGuy53 Poster Extraordinaire

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    You're overthinking this, fendertx. YOU can do this - yourself. See post #34.
     
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  5. bftfender

    bftfender Poster Extraordinaire

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    have to be self sufficient when i pack it in here this year..just hitting 55 soon

    had to figure out what we needed to sustain our life..then tacked on some extras..we live simple so not too much crazy excess

    had to figure out how much house we can buy outright first..then the bills...i reigned in the house purchase price as i got the figures going.

    will never have to finance anything ever again thankfully..all cash purchases of whatever is needed

    Blessed to have a person who has worked with my dad & grandfather for many years. he has a reasonable fee agreement(i never mind paying for pro in life)

    I got pretty hip over the years to money & making a company...might put some money aside just to mess with for something to do investing but we will be invested in a conservative yielding portfolio that i will pull out yearly to live on...more than likely still save some of that. We are debt free & will be profiting nice off our house sale.crazy thing when wife gets better from TBi we do very well $$$ wise as a band..so xtra screw off funds will come from that
     
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  6. Rustbucket

    Rustbucket Poster Extraordinaire

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    All great points. #1 was exactly the point I was going to add. I’m also 40 and when I was interviewing for CFP’s last year, I ultimately chose an advisor who was the established succor to a business, as opposed to the Owner himself. I want an good advisor I can maintain relationship with for the next 15-20 years until I retire.
     
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  7. Nubs

    Nubs Friend of Leo's

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    @fendertx I work for a credit union in the area and we have a financial adviser who comes in every week to help our members plan well. If you're interested, PM me and I'll send you his contact info.
     
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