#11
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Re: Choosing a financial advisor?
I'm not sure if I am personally ready to invest $25,000 more into the stock market right now. I started with $5000 this week and have taken a beating like almost everyone else this week. I know I can get 3.5% from my Met Life Money Market account, so maybe I should leave the $25,000 in there until I feel more comfortable with stocks & fund choices. Also the Market looks a little strange right now, but maybe this is typical "variance"?
That's my main decision, to hold off and keep the money in a 3.5% Money Market account while I teach myself more about investing (this could take what a month or two?) or pay someone with much greater investing knowledge and have him help me start investing the $25,000 now. |
#12
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Re: Choosing a financial advisor?
I am in the same boat as you.
I am putting most of my money in varios Vanguard funds and trying to learn how to trade myself. |
#13
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Re: Choosing a financial advisor?
I guess maybe I just have piss poor timing buying stocks for the first time this Monday:
The blue-chip Dow average and the broad S&P 500 were down for the fourth day in a row, their longest losing streaks in months, while the Nasdaq notched its third straight decline. The S&P 500 is on track for one of its worst weeks of the year. http://biz.yahoo.com/rb/051006/marke...cks.html?.v=16 |
#14
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Re: Choosing a financial advisor?
[ QUOTE ]
maybe I should leave the $25,000 in there until I feel more comfortable with stocks & fund choices [/ QUOTE ] Good idea. [ QUOTE ] while I teach myself more about investing (this could take what a month or two?) [/ QUOTE ] Bad idea. I say take at least a year. Good luck. -web PS Your "sample size" of stock investing is approximately equivalent to playing three hands of 0.50/1 limit holdem. Trying to get a feel for how good you are, or how much variance there is, or ..... anything like that .... based on what you've experienced so far, is not worth attempting. |
#15
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Re: Choosing a financial advisor?
[ QUOTE ]
PS Your "sample size" of stock investing is approximately equivalent to playing three hands of 0.50/1 limit holdem. Trying to get a feel for how good you are, or how much variance there is, or ..... anything like that .... based on what you've experienced so far, is not worth attempting. [/ QUOTE ] Buff, you stole my line... I echo this sentiment! |
#16
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Re: Choosing a financial advisor?
[ QUOTE ]
That's my main decision, to hold off and keep the money in a 3.5% Money Market account while I teach myself more about investing (this could take what a month or two?) or pay someone with much greater investing knowledge and have him help me start investing the $25,000 now. [/ QUOTE ] don't take this the wrong way, and i am not arguing for the sake of arguing, and i am offering this as a heartfelt opinion, not a putdown or pretensious advice. things you SHOULD do : - consult someone in person or by reading a book - learn things you SHOULDN'T do : - think you or even a professional financial advisor can and will beat a good fund manager if you are willing to take some risk on a portion of your money and via professional advice aggressively try to beat the market, $25k is not a lot and the advisor and transaction fees will hurt your gains (rake). |
#17
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Re: Choosing a financial advisor?
Put half in WMT, and half in HD. And hold. |
#18
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Re: Choosing a financial advisor?
*sigh* compared to you, JT, i just don't have the balls to put my 25k into 2 stocks. [img]/images/graemlins/smile.gif[/img] i split that much between 2-3 funds. my best bets were small-cap growth, financial sector, and russia, up 30-50% in 1.5-2 yrs that i held them.
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#19
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Re: Choosing a financial advisor?
.....and earn nothing...
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#20
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Re: Choosing a financial advisor?
Most financial advisors probably won't be interested in working with someone with a portfolio under 500K.
You can learn most of what you need to know on your own. In the meantime, put your money in a 6 month CD at 4% or a money market at 3.5% if you need access to it. Or put it in the Vanguard S&P Index 500. Though this might not be the best time to get into the market. I would park it in a CD so you can beat inflation. And study. |
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