Talk of The Villages Florida - Rentals, Entertainment & More
Talk of The Villages Florida - Rentals, Entertainment & More
#16
|
||
|
||
Quote:
Let’s make it simple: most advisor fees range from .7% to over 1.5%, so let’s take 1%. If you had $1M in investments, your cost for the fee is $10,000 per year, $3M in investments is $30,000 in fees per year. Now if you had a $100M portfolio, you would be spending a little more than $40-$60,000 a year, you will be spending $1M a year in fees. My point in this post was to share what your expenses might be hiring an advisor over a 10 year period of time on a portfolio that you spent decades building up. $500,000 (even if it is only $100,000), in advisor expenses over a 10 year period is a lot of money. |
|
#17
|
||
|
||
Why not take care of your own medical and dental needs while you are at it. And do all of your own car repairs, home maintenance and lawn work.
In my opinion there is real value in hiring a professional to take care of these things. Of course, its your money, and your time, spend it as you wish. |
#18
|
||
|
||
Investors
Quote:
My broker has always made investments grow. I make way more than his fees. If I don't make money then he doesn't. Been with the same company over 30 years |
#19
|
||
|
||
when
when I get like that I'll pay Fidelity to do it in their pgm not an analyst who knows if they are any good
|
#20
|
||
|
||
Don't fooled
Investment Advisors make money even when you don't.
__________________
: |
#21
|
||
|
||
Quote:
|
#22
|
||
|
||
Everyone is different
What is your position and what do you need. Do you have income sources other than your investments. In other words, if you have a decent pension and make a fair amount on your social security and don’t have to rely on your investments, fees might not matter. If you want to leave an inheritance and you want security on the principal, dividends might be the answer. Many posters have given you advice, but you have to understand their advice is based on the position they are in. My advice is to sit down with pen and paper, figure out what are your needs and wants from your investments. I believe that should be your first step.
|
#23
|
||
|
||
I did do mine own, but I found life too busy to stay on top of it. As a result, I missed some timing to bail out or jump in, as result of that I lost a bunch for missed making money just camped out in big "safe" funds. I use mostly Fidelity now, because I cannot watch things as closely as someone that has it as their all-day everyday job. I would have substantially more had I made the change years ago. Everyone can make money when times are good, but then there's 1987, 2008-9, and 2020.
|
#24
|
||
|
||
Quote:
__________________
Bill NJ Shore |
#25
|
||
|
||
I know. Right. That thing they say about how they make money when you do is missing one word — more. They make more money when you do. But they still make money even when you don’t. What happens with some of them is that they get to dip in quarterly to your money that is sitting there — up or down — they get paid. That does not mean it is a bad decision to use an advisor if that is your comfort level. I just find the implication that they only make money when you do to be disingenuous. I think a respectable, trustworthy advisor would be upfront and transparent about how and when they get paid. They are not doing charity work, of course, but they should be direct about exactly how they are paid — every single fee. If not, move on. Boomer
__________________
Pogo was right. |
#26
|
||
|
||
Quote:
Hey, Blackbird45, thank you. You wrote what I was going to write next. Absolutely. That’s it. We each have our individual wiring when it comes to how we deal with money. I think a lot of it is based on Nature/Nurture — why we do what we do. Know Thyself is my number one rule of investing. Boomer
__________________
Pogo was right. Last edited by Boomer; 10-04-2023 at 08:26 AM. |
#27
|
||
|
||
Quote:
(b) Again, thank you Mr. Obvious. There have been posts after posts after posts about broker fees and the cost over five years, ten years, twenty years.
__________________
Identifying as Mr. Helpful |
#28
|
||
|
||
Quote:
Long term stocks go up. Use index funds and avoid the fees. Last edited by Babubhat; 10-04-2023 at 11:03 AM. |
#29
|
||
|
||
Quote:
|
#30
|
||
|
||
Quote:
Some are good, some are bad, and some are crooks who just want to steal your money. |
Closed Thread |
|
|