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| I'm still doing a lot of reading and educating myself - I read an article in this weekend's WSJ about retirement planning. It had a blurb about Sheryl Garrett, fee-only planners and the Garrett Planning Network. If you believe in CFPs and fee-only planning you might find this of interest. |
Here is a link that might be useful: Garrett Planning Network
Follow-Up Postings:
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| Fee-only is a better way to go but you still have to be careful. The trouble is that people don't know anything about investing and don't know the proper questions to ask. A few years ago I thought I needed a financial advisor but I also did a bit of research and I ended up doing my own investing. It's not hard. I'm convinced at this point that the 'financial advice' business is, with very few exceptions, a scam. And how does someone find one of those rare exceptions? Never pay a 'percent of assets' (wrap) fee. That's an ongoing (and unearned) fee that eats up your nestegg. Only pay an hourly or one time fee. Know your fund fees (expense ratio). A couple of my girlfriends and I are trying to set up a website to warn people about using 'financial advice'. www.saveyournestegg.com Please, please be careful with your nest egg!! Make sure that you do not use a 'financial advisor' that is really a broker (product salesman). Fee only is better but DIY is best. "the BCT study found that the raw returns of equally weighted mutual funds (net of all expenses) for 1996 to 2002 were 6.626% for the investors working on their In other words, the public working on its own did more than 100% better than financial advisors when it came to selecting equity mutual funds. After factoring in inflation and taxes, clients of financial advisors lost money and lost purchasing power." http://trendfollowing.com/whitepaper/The Study of the Decade.p df Thanks for your time! :) |
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