[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]

Originally Posted by Stu from NYC

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]

Originally Posted by retiredguy123

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]

Originally Posted by 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

Financial adviser?

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

[NatureBoy]

Originally Posted by coralway

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]

Originally Posted by rjm1cc

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]

Originally Posted by 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.

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]

Originally Posted by capecoralbill

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]

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[Stu from NYC]

Originally Posted by RPDaly

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.