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Talk of The Villages Florida (https://www.talkofthevillages.com/forums/)
-   Investment Talk (https://www.talkofthevillages.com/forums/investment-talk-158/)
-   -   How many are loving paying their financial advisor now? (https://www.talkofthevillages.com/forums/investment-talk-158/how-many-loving-paying-their-financial-advisor-now-332175/)

Cranford61 05-20-2022 03:59 PM
Quote:
Originally Posted by tvbound (Post 2097375)
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 05-20-2022 04:04 PM
Quote:
Originally Posted by Plinker (Post 2097415)
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 05-20-2022 04:05 PM
Quote:
Originally Posted by Cranford61 (Post 2097432)
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 05-20-2022 04:16 PM
Nobody complains about selling at a profit.

tophcfa 05-20-2022 04:31 PM
Never had one and never will. Prefer to make my own decisions and execute through Vanguard and Fidelity brokerage accounts.

Stu from NYC 05-20-2022 05:25 PM
Quote:
Originally Posted by Boffin (Post 2097447)
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 05-20-2022 05:35 PM
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 05-20-2022 05:50 PM
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

manaboutown 05-20-2022 10:30 PM
Quote:
Originally Posted by Cranford61 (Post 2097432)
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 05-21-2022 04:25 AM
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 05-21-2022 04:42 AM
If your advisor is astute he will tell you to vote in November.

Rwirish 05-21-2022 05:07 AM
No problem at all. You don’t just pay when the market is up.

donassaid 05-21-2022 05:26 AM
Don't blame your financial advisor. Elections have consequences and so do radical economic policies.

RICH1 05-21-2022 05:35 AM
STAGFLATION, showing signs since 2020… if you weren’t slowly selling off stocks during peaks it’s your own fault.. Cash is King

crash 05-21-2022 05:58 AM
Quote:
Originally Posted by Babubhat (Post 2097360)
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.


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