No. of Recommendations: 2
If you need an hour or two of consultation with a financial advisor, it's much cheaper to pay for that service by the hour rather than load up your whole investment portfolio with excessive fees and costs to get "free" advice.

I don't have my account with Edward Jones, but I do have it with a similar large and well-known firm. I don't pay as low a rate as the person to whom you were replying, but I also need more than an hour or two of consultation with a financial advisor. I'm paying him to manage my money, and that includes the research as well as the actual trade executions. I do pay a percentage of my assets as an annual fee, but we negotiated that down for the starting point, and as the assets grow, the percentage decreases. I do not pay a commission beyond that percentage, and my advisor uses ETFs and not loaded mutual funds, so I don't find the fees to be excessive at all.

I also don't expect free advice, which is probably worth what I'd be paying for it. I have no problem paying for the advice that I am given, and as long as my goals are being met, I am happy.

Where we seem to diverge is that I have more than one goal. I do wish to grow my money, but I don't wish to spend a lot of my time doing that. My end goal is not to have a large pile of money. It is to retire when I want, living the lifestyle I have planned til DH and I both die, and to put both kids through college with no debt for either of us. Notice there is no goal to leave an inheritance at all to my kids.

I am certain that my goals are different from yours, as they should be. That doesn't make either of our goals wrong. It just makes them different. Similarly, if we choose to take different paths to reach our goals, there's nothing wrong with that.
Print the post  


The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
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.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! 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.