How many are loving paying their financial advisor now?

[Babubhat]

Not expecting many got people out when the should have. What excuses do they give you? Wait 10 years and it will be fine. Many don’t have that long

[Keefelane66]

If an investor hasn't been aware what going on and impacting the US, Canada and Europe they may want to move out of the cabbage patch they are living in. I've lived through the 9/11 stock market lived through 2008 market drop, Covid drop last year. I didn't need a financial advisor to clue me in or advise me, with inflation and the upcoming housing bubble tell me I'm wrong.

[Stu from NYC]

Since one cannot consistently time the market best course of action is to buy good stocks or funds and stay the course.

Otherwise all to often you will sell low and buy high.

[Babubhat]

Since one cannot consistently time the market best course of action is to buy good stocks or funds and stay the course.

Otherwise all to often you will sell low and buy high.

Most villagers don’t have time on their side. The downside of equities. Liquidity drives markets

[justjim]

S&P officially in a bear market - 20% lower. Target lost 35% in one day. Hang on as it’s not over yet!

[Stu from NYC]

Most villagers don’t have time on their side. The downside of equities. Liquidity drives markets

Very true but since we seem to be living longer cannot run out of money so some should be invested in equities problem conservative ones like a value fund or dividend growth.

[vintageogauge]

My pension is in real estate, only my children and grandchildren's inheritance is in the market, they should have plenty of time and will most likely see this happen again before they need it so I'm in for the long haul as I was through the last few cycles.

[Plinker]

Ran across this when searching for a “Fee Only” (not fee-based) advisor. I pay an advisor like I pay my accountant or attorney - by the hour. I rarely need to call now as I am retired and no longer own a business.

Two investors:

Beth: Starts with $10,000 and adds $8,000 annually into index fund earning 8% (this is conservative as the S&P 500 has returned, on average, 10+% for many decades, including reinvested dividends). Her balance: $2.29M

Joe: Same as Beth but returns are 7%. This reflects a 1% AUM fee.
His balance: 1.74M.

I will pass on the “free” polo tickets and T-shirts. For those that would like help in managing their portfolios, I would recommend Vanguard. You can speak with a CFP and they only charge 0.30%.

[MrFlorida]

If investment counselors knew the market ups and downs, they would all be rich, and not need your commissions to make a living.

[tvbound]

A very wealthy and astute investor was once asked about his secret for success and he answered - "I sold too early." The obvious point he was making, is that he didn't try to perfectly time the markets, which is impossible. It's also a good segue into a saying that my dad likes to use, which is - "pigs get fat...hogs get slaughtered." Both sayings go a long way in explaining the Oracle of Omaha's - many decades of success.

[Stu from NYC]

A very wealthy and astute investor was once asked about his secret for success and he answered - "I sold too early." The obvious point he was making, is that he didn't try to perfectly time the markets, which is impossible. It's also a good segue into a saying that my dad likes to use, which is - "pigs get fat...hogs get slaughtered." Both sayings go a long way in explaining the Oracle of Omaha's - many decades of success.

Very true, stick with the winners as they continue to win.

[Boffin]

S&P officially in a bear market - 20% lower. Target lost 35% in one day. Hang on as it’s not over yet!

Nope. The NASDAQ is in a bear market but not the DJI or SPX just yet. To be in a bear market the DJI must close below 29440 and the SPX must close below 3837 today.

[Robbb]

Ran across this when searching for a “Fee Only” (not fee-based) advisor. I pay an advisor like I pay my accountant or attorney - by the hour. I rarely need to call now as I am retired and no longer own a business.

Two investors:

Beth: Starts with $10,000 and adds $8,000 annually into index fund earning 8% (this is conservative as the S&P 500 has returned, on average, 10+% for many decades, including reinvested dividends). Her balance: $2.29M

Joe: Same as Beth but returns are 7%. This reflects a 1% AUM fee.
His balance: 1.74M.

I will pass on the “free” polo tickets and T-shirts. For those that would like help in managing their portfolios, I would recommend Vanguard. You can speak with a CFP and they only charge 0.30%.

I'm a big fan of Vanguard but not so much their advisory services. I used them for a few years and after we set up the asset allocation 60/40 they did nothing. Their philosophy is pretty much to put everyone in a 60/40 allocation and leave it. Its not a bad plan however what do you need them for when you can do the exact same with a vanilla 60/40 fund which costs you maybe ,002%

[Stu from NYC]

Nope. The NASDAQ is in a bear market but not the DJI or SPX just yet. To be in a bear market the DJI must close below 29440 and the SPX must close below 3837 today.

You say tomato and I say tomato or however you spell them.

[Plinker]

I'm a big fan of Vanguard but not so much their advisory services. I used them for a few years and after we set up the asset allocation 60/40 they did nothing. Their philosophy is pretty much to put everyone in a 60/40 allocation and leave it. Its not a bad plan however what do you need them for when you can do the exact same with a vanilla 60/40 fund which costs you maybe ,002%

I agree. I have been a Vanguard client for over 35 years yet have never utilized their advisory services. Also, I have never paid and will never pay an AUM fee.
However, there are many people with little or no knowledge of how to structure and manage a portfolio. Also, they may have no desire to learn. That’s okay. These individuals would be far better served with a company like Vanguard where they can speak with a CFP than the local Villages “advisors” peddling high-commission indexed annuities plus high AUM fees.
They have no idea just how much they are paying for, what I believe, is poor advice that is hazardous to their wealth.

[Cranford61]

A very wealthy and astute investor was once asked about his secret for success and he answered - "I sold too early." The obvious point he was making, is that he didn't try to perfectly time the markets, which is impossible. It's also a good segue into a saying that my dad likes to use, which is - "pigs get fat...hogs get slaughtered." Both sayings go a long way in explaining the Oracle of Omaha's - many decades of success.
If he were so astute, he would not need to sell. I’ve done unbelievably well by just hanging in there…doing nothing. Buying 10 sh of BRK in 1992 a $16,600@ was helpful. Thought I was crazy since it had been $8000 earlier that year. If this astute investor was selling prematurely, it was because he had a profit…and no one got rich paying capital gains tax. He had less to reinvest in his next adventure.
Clark Clifford, a renown Washington lawyer, once analyzed a complex deal. His summary was 2 words, “do nothing”. And enclosed a bill for $25,000.

[Robbb]

I agree. I have been a Vanguard client for over 35 years yet have never utilized their advisory services. Also, I have never paid and will never pay an AUM fee.
However, there are many people with little or no knowledge of how to structure and manage a portfolio. Also, they may have no desire to learn. That’s okay. These individuals would be far better served with a company like Vanguard where they can speak with a CFP than the local Villages “advisors” peddling high-commission indexed annuities plus high AUM fees.
They have no idea just how much they are paying for, what I believe, is poor advice that is hazardous to their wealth.


100% agree.

[Stu from NYC]

If he were so astute, he would not need to sell. I’ve done unbelievably well by just hanging in there…doing nothing. Buying 10 sh of BRK in 1992 a $16,600@ was helpful. Thought I was crazy since it had been $8000 earlier that year. If this astute investor was selling prematurely, it was because he had a profit…and no one got rich paying capital gains tax. He had less to reinvest in his next adventure.
Clark Clifford, a renown Washington lawyer, once analyzed a complex deal. His summary was 2 words, “do nothing”. And enclosed a bill for $25,000.

Interesting how well one can do by doing nothing

[Boffin]

Nobody complains about selling at a profit.

[tophcfa]

Never had one and never will. Prefer to make my own decisions and execute through Vanguard and Fidelity brokerage accounts.

[Stu from NYC]

Nobody complains about selling at a profit.

Actually they do if they find that what they sold keeps going up and up and up

[thelegges]

I don’t need to touch my funds for 8 years, so waiting is not an issue.just got off the phone with my guy, about buying different stocks for the last to weeks. When the market is down I buy, works for me, but maybe not everyone

[RVJim]

I remember TOTV postings like this in March 2020 when we had a V shaped drop and recovery in the market. Lots of folks think they know what they are doing but truth of the matter is they don’t. Age doesn’t make you smart.

Watch out if you’re male, over 45, and think you know about investing - MarketWatch (https://www.marketwatch.com/story/watch-out-if-youre-male-over-45-and-think-you-know-about-investing-11653068061?siteid=yhoof2)

[manaboutown]

If he were so astute, he would not need to sell. I’ve done unbelievably well by just hanging in there…doing nothing. Buying 10 sh of BRK in 1992 a $16,600@ was helpful. Thought I was crazy since it had been $8000 earlier that year. If this astute investor was selling prematurely, it was because he had a profit…and no one got rich paying capital gains tax. He had less to reinvest in his next adventure.
Clark Clifford, a renown Washington lawyer, once analyzed a complex deal. His summary was 2 words, “do nothing”. And enclosed a bill for $25,000.

I bought a few shares of BRK @ $3,000 in the mid 1980s. Lucky buy.

[Petersweeney]

This is the beginning of the green new deal for those of us who haven’t figured it out yet….turn off oil/gas supply the machine shuts down…

[skyking]

If your advisor is astute he will tell you to vote in November.

[Rwirish]

No problem at all. You don’t just pay when the market is up.

[donassaid]

Don't blame your financial advisor. Elections have consequences and so do radical economic policies.

[RICH1]

STAGFLATION, showing signs since 2020… if you weren’t slowly selling off stocks during peaks it’s your own fault.. Cash is King

[crash]

Most villagers don’t have time on their side. The downside of equities. Liquidity drives markets

You should of fired your financial advisors a long time ago if you are worried about a drop in the market. At this point in our life you should be invested in high value income stocks and bonds that pay your income whether the market is up or down.

[jedalton]

three letters, VTI

[mkjelenbaas]

Not expecting many got people out when the should have. What excuses do they give you? Wait 10 years and it will be fine. Many don’t have that long
Curious - do you know anyone knows when to “get out”? Doubtful!!

[ithos]

For several decades now every pull back in the economy was rescued by the Fed Reserve using their bag of tricks. During this time far more advisors lost clients by being bearish rather than by being bullish because "they fought the Fed."

Interestingly this time "fighting the Fed" meant being bullish since they were quite vocal that they were going to aggressively raise rates to get inflation under control.

Add to that the governments war on oil, the embargo on Russia, mind blowing Federal deficit spending and soaring inflation, most financial professionals just kept on being bullish. Why? Well, like the Geico commercial said. "Because that is what they do"



.

[TomPerry]

If investment counselors knew the market ups and downs, they would all be rich, and not need your commissions to make a living.
And you think individual investors looking to TOTV for investment advise are smart investors? Everyone will tell you about their WINNERS, but NOT THEIR LOSERS!!! The road to Hell is paved with Good Intentions and the road to Financial Ruin is paved E-Trade Trade Tickets!!!

[Ptmckiou]

One great thing about a down market is BARGAINS! Especially, legacy stocks for the kids like Apple and Tesla. Trick is finding the bottom. Since my investments are for inheritance, there is plenty of time. I’m in for the long haul.

[Joe C.]

I don't have a financial advisor ..... I do have a fiduciary, and I've been doing better than expected.

[MidWestIA]

Take a big % out and probably miss the big run back up and stay down. I don't want to tempt you to play the market if you don't put in the time & effort to learn how you will probably be worse otherwise.

For a non investor get a low cost advisor and have mainly low expense ratio etfs & funds but mainly indexes it is too hard to pick stocks and time well. S&P 500 VOO and total market VTSAX dividend growth VIG SCHD maybe QQQ for tech

The more your advisor buys & sells the more they make doesn't matter if you do.

[BlackHarley]

Timing the market is a fools game. You have to be right twice. Once when to get out, the other is when to get back in....if ever.

[manaboutown]

One great thing about a down market is BARGAINS! Especially, legacy stocks for the kids like Apple and Tesla. Trick is finding the bottom. Since my investments are for inheritance, there is plenty of time. I’m in for the long haul.

For many years I have been in for the long haul. It must be my nature. I was 80% solid stocks and 20% cash until a few weeks ago when a significant real estate investment property I had held for 37 years sold for a crazily high price. That brought me up to 50% cash. Last week I put my toe in the water and bought a little stock. Not much, just a few shares. I am taking my time and not in a hurry as I see buying stocks right now as trying to catch a falling knife. The Fed plans to raise the prime rate in June and again in July. Inflation is running wild. Many people have become financially stressed. A recession is on the horizon. And so on...

[Teemotay]

If he were so astute, he would not need to sell. I’ve done unbelievably well by just hanging in there…doing nothing. Buying 10 sh of BRK in 1992 a $16,600@ was helpful. Thought I was crazy since it had been $8000 earlier that year. If this astute investor was selling prematurely, it was because he had a profit…and no one got rich paying capital gains tax. He had less to reinvest in his next adventure.
Clark Clifford, a renown Washington lawyer, once analyzed a complex deal. His summary was 2 words, “do nothing”. And enclosed a bill for $25,000.

One word......”plastics”

[mrf0151]

Everyone has to evaluate their own particular retirement situation. If you don't have the smarts or desire to do it yourself then you have to find professional help. The crash in 2020 was ugly with market loss of 30%. With our financial company we are with we only went down 11%. So thankful for them.
Social security alone will not put you in a good place. If your fortunate enough to have a pension too then your blessed. We are riding the wave as we have great health and just turned 70 with parents that lived into their 90's. We have a nice nest egg saved and real-estate rental property that could be sold if need be.
I remember back in 1987 when I was dumb/stupid I cashed in my 401K as I got scared.
OUCH!!!!!!

[Stu from NYC]

For many years I have been in for the long haul. It must be my nature. I was 80% solid stocks and 20% cash until a few weeks ago when a significant real estate investment property I had held for 37 years sold for a crazily high price. That brought me up to 50% cash. Last week I put my toe in the water and bought a little stock. Not much, just a few shares. I am taking my time and not in a hurry as I see buying stocks right now as trying to catch a falling knife. The Fed plans to raise the prime rate in June and again in July. Inflation is running wild. Many people have become financially stressed. A recession is on the horizon. And so on...

More and more thinking that the stock market is now price with full expectation of a recession and might well be at the bottom. Than again it might not.

Once went to a financial seminar and the guy selling his services said he had a computer program that will almost always predict the highs and lows of the market so you will know exactly what to do. So the only thing we got out of the evening was a very nice dinner and knowing stay well away from this guy.

[Plinker]

For many years I have been in for the long haul. It must be my nature. I was 80% solid stocks and 20% cash until a few weeks ago when a significant real estate investment property I had held for 37 years sold for a crazily high price. That brought me up to 50% cash. Last week I put my toe in the water and bought a little stock. Not much, just a few shares. I am taking my time and not in a hurry as I see buying stocks right now as trying to catch a falling knife. The Fed plans to raise the prime rate in June and again in July. Inflation is running wild. Many people have become financially stressed. A recession is on the horizon. And so on...

Are all attempts at market timing bad?
During our accumulation phase (working years), we were 90/10. Now that we have entered our distribution phase, we are 25/75. Yes, a very conservative portfolio. The 75% and SS easily covers our expenses while the 25% is to counter inflation. We diligently saved all we could for 30+ years in low-cost index funds. We split our qualified contributions between ROTH and traditional accounts (IRA, 401k and 403b). There came a time when we were no longer eligible for a ROTH. I never sold and kept on buying when the markets cratered and have been rewarded due to the wonders of compounded interest. At the time, I had no idea how powerful a ROTH IRA would become.
However, now with less time ahead than behind me, I have reconsidered the topic of market timing. I’m not talking about attempts to profit on arbitrage-type actions. I spent a lot of time last year thinking about what our future state of the economy might look like after 3 consecutive years of double-digit stock returns. Run-away inflation, chip shortages, cargo issues, Ukraine war (only a possibility at the time which came to fruition), etc. Some of our elected officials wanted to inject trillions more into the economy. I shudder to think where we would be had they been successful. I just couldn’t find any positives to support a buy-hold strategy.
As such, I sold my S&P 500 ETF and went to cash in November, 2021. I had deduced we were in for a major correction and potentially a recession. It turned out to be a prescient move based on, what I believe, was due diligence and not emotions. If I buy back the ETF shares now, I will have far more shares and realize a six-figure return when the market recovers. Obviously, the question is: When do I make this decision? Personally, I believe we have more pain ahead and will postpone the repurchase. However, I will not hesitate to pull the trigger, fully realizing there is no way to know when the bottom will hit.
So, was it luck or a well thought out plan? Is market timing all bad?

[Stu from NYC]

Are all attempts at market timing bad?
During our accumulation phase (working years), we were 90/10. Now that we have entered our distribution phase, we are 25/75. Yes, a very conservative portfolio. The 75% and SS easily covers our expenses while the 25% is to counter inflation. We diligently saved all we could for 30+ years in low-cost index funds. We split our qualified contributions between ROTH and traditional accounts (IRA, 401k and 403b). There came a time when we were no longer eligible for a ROTH. I never sold and kept on buying when the markets cratered and have been rewarded due to the wonders of compounded interest. At the time, I had no idea how powerful a ROTH IRA would become.
However, now with less time ahead than behind me, I have reconsidered the topic of market timing. I’m not talking about attempts to profit on arbitrage-type actions. I spent a lot of time last year thinking about what our future state of the economy might look like after 3 consecutive years of double-digit stock returns. Run-away inflation, chip shortages, cargo issues, Ukraine war (only a possibility at the time which came to fruition), etc. Some of our elected officials wanted to inject trillions more into the economy. I shudder to think where we would be had they been successful. I just couldn’t find any positives to support a buy-hold strategy.
As such, I sold my S&P 500 ETF and went to cash in November, 2021. I had deduced we were in for a major correction and potentially a recession. It turned out to be a prescient move based on, what I believe, was due diligence and not emotions. If I buy back the ETF shares now, I will have far more shares and realize a six-figure return when the market recovers. Obviously, the question is: When do I make this decision? Personally, I believe we have more pain ahead and will postpone the repurchase. However, I will not hesitate to pull the trigger, fully realizing there is no way to know when the bottom will hit.
So, was it luck or a well thought out plan? Is market timing all bad?

What you did worked for you and that is what is important. Timing is good if you get it right but nobody gets it right all or most of the time.

[kathy1516]

I’m one of the unlucky ones that had GWG bonds and lost half my investments when they filed Chapter 11. My CFP said he got taken too. Not sure I believe that, but I plan to enter a class action lawsuit to see if I can recover anything.

[tvbound]

It's always interesting to read/hear about anonymous people who timed the market perfectly, or just happened to buy a stock like BRK-A - decades ago.

[charlieo1126@gmail.com]

It's always interesting to read/hear about anonymous people who timed the market perfectly, or just happened to buy a stock like BRK-A - decades ago.it’s seems everyone on this site is just way ahead of the average investor , I wish I was as smart as most on here today

[Caymus]

It's always interesting to read/hear about anonymous people who timed the market perfectly, or just happened to buy a stock like BRK-A - decades ago.

I bought Berkshire, but I also bought Enron and WorldCom :doh:

[RVJim]

it’s seems everyone on this site is just way ahead of the average investor , I wish I was as smart as most on here today

Yes mostly old toothless lions rewriting their glory days. As sure as the sun rises in the east there will be hot air and bragging in retirement communities.

[BlueStarAirlines]

It's always interesting to read/hear about anonymous people who timed the market perfectly, or just happened to buy a stock like BRK-A - decades ago.

Not to brag, but I bought a boatload of Enron.......

[Toymeister]

All these bright individuals on this topic!

I feel like such a fool by buying low cost indexed funds and dollar cost averaging. Sure, it made me a millionaire but if I was as brilliant as the market timers here I would have more!

But probably vastly less and I'd still be working...

[Babufrick]

It's always interesting to read/hear about anonymous people who timed the market perfectly, or just happened to buy a stock like BRK-A - decades ago.


Technical analysis is not perfect but works well. Its emotionless. The market works on algos now. the bulk of trading is done by programs. Must adapt to new environment. My portfolio speaks for itself. No one cares how or why you made money. Its binary

[manaboutown]

Technical analysis is not perfect but works well. Its emotionless. The market works on algos now. the bulk of trading is done by programs. Must adapt to new environment. My portfolio speaks for itself. No one cares how or why you made money. Its binary

Yep. The Quants - Wikipedia (https://en.wikipedia.org/wiki/The_Quants)

[manaboutown]

///

[jimjamuser]

A very wealthy and astute investor was once asked about his secret for success and he answered - "I sold too early." The obvious point he was making, is that he didn't try to perfectly time the markets, which is impossible. It's also a good segue into a saying that my dad likes to use, which is - "pigs get fat...hogs get slaughtered." Both sayings go a long way in explaining the Oracle of Omaha's - many decades of success.
I sold a large part of my portfolio in Dec 2021. So, that was a little too early, but it seemed like the market was overdue for a big correction. You can't buy at the PERFECT low or sell at the PERFECT HIGH. I am satisfied to sell at a CLOSE to a high. And in the future, I will be satisfied if I can buy back close to a low.

[rsmurano]

The only people that always make $$$ are the advisors!
I’ve never used an advisor and the last 3 years before 2022, my lowest average year gains were over 30%. Vanguard index funds are the best along with Apple and energy funds.
I’ve never sold a share during the last 2 recessions/covid in 2020, but this year, I sold everything because this time, things are much different. You can’t time the market, but I got out when my funds were at their highest. We are far from rock bottom in the market, more pain to come.

[Chi-Town]

My financial advisor has helped me achieve my goals through the working years and into retirement. No regrets.

[nn0wheremann]

Not expecting many got people out when the should have. What excuses do they give you? Wait 10 years and it will be fine. Many don’t have that long
What goes up comes down. It is all Monopoly Money, just paper, unless you sell, and monetize the loss. Interest rates are still cheap. If you need cash, borrow. Otherwise, hang on, this roller coaster is a long way from bottom.

[Stu from NYC]

What goes up comes down. It is all Monopoly Money, just paper, unless you sell, and monetize the loss. Interest rates are still cheap. If you need cash, borrow. Otherwise, hang on, this roller coaster is a long way from bottom.

Not so sure about that. Much of what is likely to happen is already factored into pricing. Till will tell.

[manaboutown]

All these bright individuals on this topic!

I feel like such a fool by buying low cost indexed funds and dollar cost averaging. Sure, it made me a millionaire but if I was as brilliant as the market timers here I would have more!

But probably vastly less and I'd still be working...

"For example, 85.1 percent of actively-managed large-cap funds underperformed the S&P 500 last year, according to SPIVA data from S&P, which measures the performance gap between actively-managed and index funds. In 2021, some 79.6 percent of all domestic U.S. funds underperformed the S&P Composite 1500, the S&P equivalent of a total market index."

From: 'The democratization of investing': Index funds officially overtake active managers (https://finance.yahoo.com/news/index-fund-assets-exceed-active-fund-assets-120639243.html)

[RVJim]

What goes up comes down. It is all Monopoly Money, just paper, unless you sell, and monetize the loss. Interest rates are still cheap. If you need cash, borrow. Otherwise, hang on, this roller coaster is a long way from bottom.

As long as one has enough dollars to get them thru to their final breath it really doesn’t matter. I don’t honestly get the hand wringing over the market’s ups and downs. If you have structured your retirement correctly, your investments are largely insensitive to market volatility, your unsecured debt is zero, house paid for with no mortgage, you have sufficient cash flow to support yourself and your kids are educated living their life with a solid career.

For those yapping and fretting about leaving inheritances to family, you did something wrong somewhere. My kids are educated and working in solid careers supporting themselves. The last thing they need from me is an after death hand out. What is left after estate taxes and final expenses will all go to charity.

[Stu from NYC]

As long as one has enough dollars to get them thru to their final breath it really doesn’t matter. I don’t honestly get the hand wringing over the market’s ups and downs. If you have structured your retirement correctly, your investments are largely insensitive to market volatility, your unsecured debt is zero, house paid for with no mortgage, you have sufficient cash flow to support yourself and your kids are educated living their life with a solid career.

For those yapping and fretting about leaving inheritances to family, you did something wrong somewhere. My kids are educated and working in solid careers supporting themselves. The last thing they need from me is an after death hand out. What is left after estate taxes and final expenses will all go to charity.

Agree with you except for last paragraph.

Nothing wrong with enjoying your retirement to the fullest and leaving some dollars to kids and grandkids to make their life better and easier.

[manaboutown]

As long as one has enough dollars to get them thru to their final breath it really doesn’t matter. I don’t honestly get the hand wringing over the market’s ups and downs. If you have structured your retirement correctly, your investments are largely insensitive to market volatility, your unsecured debt is zero, house paid for with no mortgage, you have sufficient cash flow to support yourself and your kids are educated living their life with a solid career.

For those yapping and fretting about leaving inheritances to family, you did something wrong somewhere. My kids are educated and working in solid careers supporting themselves. The last thing they need from me is an after death hand out. What is left after estate taxes and final expenses will all go to charity.

Some of us are in the same situation. If you do not mind sharing your ideas to which charity or charities are you leaving your estate?

[rjm1cc]

Not expecting many got people out when the should have. What excuses do they give you? Wait 10 years and it will be fine. Many don’t have that long

Your financial planner is not a market timer. I would not expect them to tell you to sell your investments, pay capital gain taxes and then invest what is left some time in the future.

I would expect then to help you not panic and sell.

[DAVES]

Reality, we are all uncomfortable, some need an advisor to perhaps, hold their hand. Perhaps, for some someone besides themselves to blame.
Things are far from what they used to be. Pensions are far more rare than they used to be. That forces people to fund their own retirement. At one time, not that long ago you could build a treasury bond ladder. Treasuries would pay the rate of inflation plus 2%.
That 2% would cover the taxes. On treasuries you pay fed tax but not state or local tax. Today the ten year treasury is paying less than 3%.

Our current economic reality. The CPI is now roughly 8%. You pay that with after tax money. On top of that the stock market has lost roughly 14% in the past six months.
This year year to date is the first year the market has been down in roughly 15.

Hindsight is always 20/20. Woulda, shoulda, coulda, mighta. With the CPI at 8% and you need to pay that with after tax money, in CASH you are losing roughly 12%.

Where to hide-BEATS ME. Some may wish to look at TIPS. They dare not say so but they are a clear indication that our government plans on continuing to fuel inflation.

[DAVES]

Some of us are in the same situation. If you do not mind sharing your ideas to which charity or charities are you leaving your estate?

In terms of leaving money to charity, which charity to leave it to, should be YOUR CHOICE not a choice made by others.

There is no shortage of worthy causes. We regularly see well done ads on TV. We all need to realize those ads cost money. That money comes from donations to the charity.

People who send donations often do not realize how much of each dollar you give goes to expenses including often obscene income packages for staff.

The information is public.

Direct charity. I used to work in New York City. The panhandlers are crawling all over the place. I only gave once. I guy said I'm not gonna lie. I need money for a drink.
Honest and I knew 100% was going where he said it was going.

[DAVES]

Your financial planner is not a market timer. I would not expect them to tell you to sell your investments, pay capital gain taxes and then invest what is left some time in the future.

I would expect then to help you not panic and sell.

That is how it should be but possibly not how it is. Some financial advisors are paid by the hour so their compensation is the same no matter what you do. Others work on commission. Annuities pay a high rate of commission so you will find them pushing annuities and other high commission products.

A financial advisor tied to a bank or a brokerage will of course not advise you of better choices with another bank or another brokerage.

[Stu from NYC]

That is how it should be but possibly not how it is. Some financial advisors are paid by the hour so their compensation is the same no matter what you do. Others work on commission. Annuities pay a high rate of commission so you will find them pushing annuities and other high commission products.

A financial advisor tied to a bank or a brokerage will of course not advise you of better choices with another bank or another brokerage.

Very true, how they get paid will have a direct bearing on what they push you into.

Seems to me a fee only planner would have the most reason to guide you according to what you need and want.

[retiredguy123]

In terms of leaving money to charity, which charity to leave it to, should be YOUR CHOICE not a choice made by others.

There is no shortage of worthy causes. We regularly see well done ads on TV. We all need to realize those ads cost money. That money comes from donations to the charity.

People who send donations often do not realize how much of each dollar you give goes to expenses including often obscene income packages for staff.

The information is public.

Direct charity. I used to work in New York City. The panhandlers are crawling all over the place. I only gave once. I guy said I'm not gonna lie. I need money for a drink.
Honest and I knew 100% was going where he said it was going.
There is no shortage of unworthy causes also.

I would disagree that the information is public. Have you ever read a Form 990 that charities are required to file annually with the IRS? I have read a lot of them, and they rarely contain clear and accurate information about the charity. There are thousands, if not millions, of charities. And a lot of IRS approved charities (501c3) are nothing more than scams.

[tvbound]

Charity Navigator - Your Guide To Intelligent Giving | Home (https://www.charitynavigator.org/)

[Stu from NYC]

There is no shortage of unworthy causes also.

I would disagree that the information is public. Have you ever read a Form 990 that charities are required to file annually with the IRS? I have read a lot of them, and they rarely contain clear and accurate information about the charity. There are thousands, if not millions, of charities. And a lot of IRS approved charities (501c3) are nothing more than scams.

And for a lot of them once you make a contribution you get mail from them every couple of weeks asking for more. And lots of them thank you for your contribution by sending address labels more money that does not go to the cause they are soliciting for.

[manaboutown]

And for a lot of them once you make a contribution you get mail from them every couple of weeks asking for more. And lots of them thank you for your contribution by sending address labels more money that does not go to the cause they are soliciting for.

One of my aunts died in 1994 and I handled her estate. 28 years later I am still getting mail addressed to her from charities claiming to aid American Indians.

[Garywt]

I have never had one so not paying anything. Spent a good chunk of my 401k when I went out on disability. Figured my wife could sell my toys and get my life insurance when I die but wanted to do as much as I could before the end.

[Stu from NYC]

One of my aunts died in 1994 and I handled her estate. 28 years later I am still getting mail addressed to her from charities claiming to aid American Indians.

Amazingly our son gets mail here from charities over and over. Never lived here and went off to college 25 years ago.

[Boomer]

Villages Investment Education Club (villagesie.weebly.com) meeting, Thursday, June 9, @3:00 ‘til 4:30 PM, at Sea Breeze

Meeting Topic:

“The Financial Landscape in the Villages Area” (How to tell the difference in the large number of companies and their different offerings.)

Should be interesting.

On June 23, the club will have a dividend discussion.

Boomer

[Stu from NYC]

Markets will go up and will go down it is the long run that you are paying your advisor to help you manage.

[retiredguy123]

And for a lot of them once you make a contribution you get mail from them every couple of weeks asking for more. And lots of them thank you for your contribution by sending address labels more money that does not go to the cause they are soliciting for.
I have more address labels than I'll ever use and they came from charities that I never donated to.

[Stu from NYC]

I have more address labels than I'll ever use and they came from charities that I never donated to.

We started using them for sealing the back of envelopes so supply is more reasonable these days.

[Nell57]

Charity begins at home.
I have college funds for all 5 grandkids.
My children are educated and successful, but I still give them money while I am above ground, and can see what kind of money managers they are.,
I doubt that Social Security will be there for them, so they will inherit whatever I have leftover.
I tithe to Charities now.
I like seeing where my $$ are going.

[coralway]

Not expecting many got people out when the should have. What excuses do they give you? Wait 10 years and it will be fine. Many don’t have that long



Financial adviser?

Never had one, never will. Do your own dd.

[NatureBoy]

Financial adviser?

Never had one, never will. Do your own dd.

That’s like saying, “Auto mechanic? Never had one, never will.” Or “Accountant? Never had one, never will.” “Plumber? Never had one, never will.”

Managing finances can be complicated. And even if you don’t find it so, others do.

[rjm1cc]

Your financial planner is not a market timer. If that is what you need then you should not be hiring a planner.

[Stu from NYC]

Your financial planner is not a market timer. If that is what you need then you should not be hiring a planner.

And if he says he is than run

[capecoralbill]

I’m one of the unlucky ones that had GWG bonds and lost half my investments when they filed Chapter 11. My CFP said he got taken too. Not sure I believe that, but I plan to enter a class action lawsuit to see if I can recover anything.
Kathy, I went to a Michael Whitaker and Associates LLC, free lunch seminar back in January 22, 2019, he was pushing that GWG L bond with the high interest rates. It was very appealing and he seemed legitimate, but three years later and your money is gone. I don't believe I'll be taking anymore free meal financial seminars. I am sorry that you lost your money.

[Stu from NYC]

Kathy, I went to a Michael Whitaker and Associates LLC, free lunch seminar back in January 22, 2019, he was pushing that GWG L bond with the high interest rates. It was very appealing and he seemed legitimate, but three years later and your money is gone. I don't believe I'll be taking anymore free meal financial seminars. I am sorry that you lost your money.

We have gone to a number of the free dinners and listen to them and very rarely will they voluntarily reveal their background. Mostly they are there to sell annuities.

Depending upon the restaurant can be a very nice dinner though.

[RPDaly]

---

[Stu from NYC]

Too many just put you in pedestrian mutual funds that already have a fund manager taking a built-in commission from you to manage your investment. They think that is worth them taking some of your wealth. Many then have no real knowledge of market direction and tell you regardless of your age and how unhappy you are after you got their last monthly statement and see how much your portfolio dipped that you need to invest for the long term and not time the market. If I am going to give someone 2% of my wealth they better well know how to time the market.

If they knew how to time the market they would be multi billionaires and would have no reason to bother managing other peoples money.