Quote:
Originally Posted by retiredguy123
The financial advisor's recommendation to borrow money is crazy. Don't borrow money when you have money.
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the advice only makes sense when you realize that the advisor is paid a percentage of asset under management, and he doesn't want anyone to take money out of their accounts.
A professional colleague who worked at Fidelity, used their advisors, and he need to pay for part of college out of his investments. When he asked his Fido advisor which account and how much he can take out, the advisor told him
"to start saving more money by cutting your expenses!"
your a meal ticket to most wealth management advisors, nothing more, nothing less. .