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Subject:  Re: Talk me out of a Financial Advisor Date:  6/4/2013  9:08 PM
Author:  intercst Number:  72437 of 93709

MurrayS writes,

Also, if you fear both parents dying while you child is too young to handle money (for some, this can go far into adulthood), a trust would name a trustee and whatever conditions or limitations you might want to impose (such as the age of final distribution)

I think this is the primary reason we would want a trust. I think I would have been ill equipped to handle 6 or 7 figures when I was in my 20s and I know I'm better than most.


By far the most valuable course I took as an undergrad in engineering school was a 3-day mini-course on financial planning and investments taught by the Army Captain that ran the ROTC program. The Captain brought in several financial planners and stock brokers and had them make their pitch. Then he dissected what they were trying to sell us and how much we'd be screwed. Very entertaining and quite an eye opener -- even for an 18-year-old Freshman.

Seven or eight years later when I had some money to invest, at least I knew enough not to get screwed on fees & commissions.

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