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|Subject: Re: The Millionaire Twins Next Door||Date: 11/26/2013 6:36 PM|
|Author: 2gifts||Number: 73839 of 75381|
It's a rare financial advisor that will do better for you than just putting you money in an S&P index fund. Comparing the FA to how you do may not be the best comparison -- maybe you should stop doing what you're doing and instead do something that works better. I'm not saying this is how it is in your case, but nothing you have written precludes it.
First, I think I actually get to decide on my own yardstick, whatever that may be. It may or may not be the same as your yardstick, but it takes into account all the criteria that I have for measuring success. That can include many factors, and is not just based on ROI because I also value my time as well as DH's comfort factor, all of which have value to me. These things may or may not have value to you, and we probably would have our criteria ranked differently. But that doesn't matter. It only matters that my ranked criteria is being met to my satisfaction. It does not need to also meet your criteria, some of which may be lower on my list or not even on it at all.
You don't get to decide how much work I should do or should want to do, regardless of if you think that I could do "better" by your yardstick because I'm not using your yardstick.
It's not just the magnitude of the fee that bothers people; it's that rarely is anything of real value delivered for that fee.
And here we disagree again. No one, other than DH and me, gets to decide what "real value" is in this instance. I have already stated, repeatedly, that we feel we are getting fair value for what we are paying, and other people don't get a vote on that.
DH is a general contractor, and has clients that pay him for things that both of us consider absurd, like paying a 4-hour minimum to diagnose and fix a garage door opener that needed a new battery, but those people are getting what they perceive as value from that. It is not up to us to decide what the value is to them, and it is not up to others to decide what has value to me.
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