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Author: Rayvt Big gold star, 5000 posts Top Favorite Fools Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 76398  
Subject: Re: Want portfolio advice Date: 11/5/2010 12:17 AM
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Without knowing things like her age, objectives, tax situation, and risk tolerance it is pretty much impossible to know what a good portfolio is.

She is in her late 70's. Her risk tolerance is not too high. She was worried when all her portfolios went down in the last year. The money she would be managing is 19% of the money she lives off of.
...
I'm not sure what funds to take out. I read that foreign bonds, emerging market funds, commodity and real estate funds were good diversification for today's changing economy.


So, you are intending to manage somebody else's money--somebody with a low risk-tolerance at that--and your expertise is what you read??

Are you nuts???!!!

Look, when you are interviewing Investment Advisors, the most important question to ask is, "Show me your investments & trades for the last 10 years. How have you done compared to the overall market?"

Since you are helping this lady, then take her side, speak for her, and ask this of your proposed advisor--yourself. If you haven't been investing successfully for at least 10 years, you have NO BUSINESS managing her investments for her. Instead, help her choose an investment advisor. A QUALIFIED advisor, not just someone who has read Money Magazine and Smart Money magazine.

Maybe hold her hand and walk her through discussions with Vanguard or Fidelity. They have expertise. From what I can see, you don't.
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