Quote:
Originally Posted by Jona
I don't mind reading others' opinions but I suggest that everyone should have a qualified financial advisor whom you trust. Find a good one with a track record. I'll stick my neck out and say that they know more than we do. My guy has done well for me and even though my financial setup in retirement often gets criticized, I have done well and am adequately funded.
I love the comments I get like "If you had bought xyz you would have twice as much."
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Advisors are largely salespeople, paid by you, from your earnings, to push products that are advantageous to them and their firms.
An advisor would have to guarantee to me in writing that he could beat the total return I get on my self-advised lazy portfolio every year for the next 30 years. I don't see that happening, and I'm not willing to siphon off 1% or more of my portfolio to fund my advisors retirement.
I'm happier and wealthier since I dumped my advisor.