UnThreaded | Threaded | Whole Thread (124) | Ignore Thread Prev | Next
Author: akck Big red star, 1000 posts Old School Fool CAPS All Star Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75532  
Subject: Re: Talk me out of a Financial Advisor Date: 6/4/2013 12:09 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 1
Just to give you another data point, I used to manage my SIL's investments. By manage, I mean I sold off all the front loaded funds with high expense ratios her broker purchased and the I picked the indexed ETFs for her. I also went over their expenses, got them to refinance their mortgage and told them they'd have enough income in the foreseeable future. Asset allocation-wise, I couldn't bring myself to invest in bond funds, so I purchased dividend paying funds in their place, figuring to get into bonds in 2-3 years after rates start going up.

In any case, they thought they were imposing on me, thought they needed to be adults and decided to go with an advisor. When we last visited with them, I found out the advisor told them essentially what I had told them, they'd have enough income and would be able to leave an inheritance if they wanted. I didn't ask about their investments, but I'd bet they are in a bond fund now.

For me, it confirmed that I'm not far off on my planning. I'm certain our plan will survive retirement. Especially since I know expenses can be cut if needed (I pointed out to my SIL where they could cut). Of course, I won't be going with an advisor, but I have no problem with anyone who wants outside confirmation in order to have some comfort with their plan.
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (124) | Ignore Thread Prev | Next

Announcements

The Retire Early Home Page
Discussion on accelerating retirement day.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement