Are you still in the stock market?

seadoug said:
So I know he has a vested interest in seeing my portfolio go up!
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If you choose to believe that. But 1% of +/- 20% performance in a year is not so big of a vested interest. (not to mention if the performance difference is less than +/- 20% in a year)
Most people hire financial advisors because they are not interested in or capable of managing their own money and they never fire the advisors.
I was chatting with a banker at my bank years ago, he said you would be surprised how many people don't know what index funds are. Those are the people who need to hire financial advisors.
 

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Tom52 said:
OldOld, maybe you need to clean your glasses and reread my post that you replied to. No where in my post did I predict future performance.
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I am not accusing you of anything.
I am just giving my conscious advice to you and other readers.
 

seadoug said:
So I know he has a vested interest in seeing my portfolio go up!
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That's not always the case Doug...good thing for you it has been. I had a friend (now deceased) who was lazy about doing many things for himself. One of them was learning about investing and handling his own finances, so he always had a financial advisor do it. He told me of staggering loss of 80% that he suffered during a market crash. That guy was still getting paid even though he did a p*ss poor job of protecting my friend's portfolio. He finally fired him and got one he liked.
 
Bretrick said:
Never been interested in the stock market. Too volatile for me.
Just today I deposited $150,000 in a term deposit at 4.25% for 5 months.
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Usually a guaranteed loss after taxes and inflation over more time frames then not for cash Instruments

On the other hand very few retirees didn’t make crazy amounts of money over the years in diversified funds

They only lost if they bailed out of diversified funds
 
Bretrick said:
Never been interested in the stock market. Too volatile for me.
Just today I deposited a fix figure amount in a term deposit at 4.25% for 5 months.
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It doesn’t have to be an all or nothing proposition.

I keep a comfortable amount of cash and anything that I’m not likely to need for at least five years goes into a mutual fund of some sort.

Do what feels comfortable for you and your situation.
 
I still think placing all one's money in ONE of the stocks with the most appreciation in the last few years. I did that some years ago and now have many millions in my net worth. Of course, I also lost most of my money doing the same in one stock which went bankrupt many years ago. Only those, who try this method, will ever make the big bucks. If we lose, so what, in the end we all die no matter what happens to our investments.
 
Mitch86 said:
I still think placing all one's money in ONE of the stocks with the most appreciation in the last few years. I did that some years ago and now have many millions in my net worth. Of course, I also lost most of my money doing the same in one stock which went bankrupt many years ago. Only those, who try this method, will ever make the big bucks. If we lose, so what, in the end we all die no matter what happens to our investments.
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I don't want to loose all my money like you did before. I'd rather have small gain (or small lost).
 
Mitch86 said:
I still think placing all one's money in ONE of the stocks with the most appreciation in the last few years. I did that some years ago and now have many millions in my net worth. Of course, I also lost most of my money doing the same in one stock which went bankrupt many years ago. Only those, who try this method, will ever make the big bucks. If we lose, so what, in the end we all die no matter what happens to our investments.
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i was 100% equities for decades , always diversified sock funds .

today it has grown to multiple 7 figures . that is thru all the wars , crashes , recessions and downturns we have had since 1987.

cash instruments have been and still are where the danger is if that is ones INVESTMENT.

cash instruments are typically where we keep the money we need for shorter term purposes and spending .

its where put the money we make from investing that will be spent.

even in retirement , over the last 10 years we drew 6 figures a year out to live .

today our balance is bigger than ever . i use simple total market and s&p funds
 
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A lot of boomers have multiple 7 figures assets now. That's one of the reasons things are expensive these days.
BTW, 2 multiple is very different from 8 multiple. But they are all multiples.
 
most of us who did it , did it thru investing .

i know i was never a high earner so i counted on good compounding on my money over time

the combination of our money working for us while we worked for our money produced fabulous results
 
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OneEyedDiva said:
That's not always the case Doug...good thing for you it has been. I had a friend (now deceased) who was lazy about doing many things for himself. One of them was learning about investing and handling his own finances, so he always had a financial advisor do it. He told me of staggering loss of 80% that he suffered during a market crash. That guy was still getting paid even though he did a p*ss poor job of protecting my friend's portfolio. He finally fired him and got one he liked.
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My father was a financial advisor. His estate, left to support my mother, was completely in the market. I got my hands on every learning tool I could to learn the market and make informed decisions. I did research on every investment he had. I fired HIS advisor because I used to hear my father arguing with him. Also, he immediately suggested several annuities for my mother. I was not sold.

I went to various executives within my industry and asked for recommendations. There was one advisor who was continually recommended, and that was by people making much more than I did. I met with him, discussed my goals, and he handled my investments quite capably until he passed away several years ago. We would talk often, and there was one occasion where I recommended we invest in an overseas fund. He agreed. It did quite well.

His replacement has been fantastic and trustworthy as well. I can always pick up the phone and bounce ideas off him. He also knows my goals and invests accordingly. I don't need to nitpick every investment my advisor makes. I have a good overall knowledge of investments but I let him sweat the small stuff. I know too much about the market at this point to be taken advantage of, and I've been extremely happy with the growth I've seen since I retired in 2020.
 
seadoug said:
My father was a financial advisor. His estate, left to support my mother, was completely in the market. I got my hands on every learning tool I could to learn the market and make informed decisions. I did research on every investment he had. I fired HIS advisor because I used to hear my father arguing with him. Also, he immediately suggested several annuities for my mother. I was not sold.

I went to various executives within my industry and asked for recommendations. There was one advisor who was continually recommended, and that was by people making much more than I did. I met with him, discussed my goals, and he handled my investments quite capably until he passed away several years ago. We would talk often, and there was one occasion where I recommended we invest in an overseas fund. He agreed. It did quite well.

His replacement has been fantastic and trustworthy as well. I can always pick up the phone and bounce ideas off him. He also knows my goals and invests accordingly. I don't need to nitpick every investment my advisor makes. I have a good overall knowledge of investments but I let him sweat the small stuff. I know too much about the market at this point to be taken advantage of, and I've been extremely happy with the growth I've seen since I retired in 2020.
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Interesting account of how you found your advisors Doug. Good for you for protecting your mother's interest. I would expect nothing less from you. You have been fortunate.
 

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