Financial advisor for 20 year olds

[shcisamax]

We would like to find a financial advisor in FL who would be able to take on our young adults. Does anyone have a good suggestion for someone who would be willing to be their advisor but also explain to them how stocks/bonds/mutual funds/hedgefunds/derivatives, the market, balancing a portfolio, etc. work at the same time?

[gomoho]

Probably only if you have some money to invest. These folks only get paid when you invest money so to expect that to give you the schooling you could obtain on your own really isn't reasonable.

[shcisamax]

I did mean they had some money to invest. I wouldn't expect them to do it pro bono :) Not buckets but they each have a nice starter amount. But they will be in it for a long haul so it would be nice if they had some understanding of the market principles.

[graciegirl]

//.

[shcisamax]

Hmmn. What does //. mean? I have to get caught up on the slang on here :)

[shcisamax]

This is THEIR savings so if they are going to invest, it needs to be with someone who isn't a wild card. But if they are going to invest, they need to understand fundamentals.

[2 Oldcrabs]

You may want to contact Vanguard ! Mutual funds or EFT are the way to go. I bought my first stock at age 14 and still own about 25 stocks. I made a very good return on some in the past and lost a lot on some also. I have never been able to beat The Vanguard Funds over time. Investing with Vanguard allowed me to retire at 50.:read:

[Carla B]

A good start to learning is as simple as going on line and joining the "Bogleheads' Forum." There is lots of help there for investors of all ages and sizes of portfolios. They suggest books to read on fundamentals of investing and asset allocation.

The Bogleheads advocate a simple portfolio of Vanguard funds (founded by John Bogle). Following Vanguard Funds obviously worked for 2 Oldcrabs.

[shcisamax]

Thanks so much. Will direct them to that site. Maybe me too :)

[aljetmet]

Yahoo Finance always has great articles for people in thier 20s to 120s.

A wealth of free information.

[l2ridehd]

I agree with the Bogleheads form and there suggested reading list. I to have bought and sold lots of stocks, but Vanguard index funds is what made me the most return. Other good sites for them are LazyTraders.com: Lazy Portfolios | Index Funds | Passive Investing (http://www.Lazytraders.com) and Early Retirement & Financial Independence Community (http://www.early-retirement.org/)

All advocate the "keep it simple" philosophy of investing and to use low cost index funds.

[Carla B]

I2ridehd, I was going to refer to your posts as imparting wisdom earlier but I couldn't remember how to spell your screen name.

[Bill-n-Brillo]

I2ridehd, I was going to refer to your posts as imparting wisdom earlier but I couldn't remember how to spell your screen name.

Carla, it actually starts with the letter L. :wave:

Bill :)

[Carla B]

Oh, oh. Not only can't remember, can't read either.

[l2ridehd]

Thanks Carla. To remember, it is "loves to ride Harley Davidsons"

[KARENNN]

Jerry Seinfeld summed it up best "You go out and work and let your money stay home and rest because sometimes, when you send your money out to work for you, it gets fired!"