I grew up comfortably middle class. My parents worked hard so that we didn’t have to worry. But they didn’t necessarily have the financial savvy to make their money work for them. I’ve pretty much adopted their approach - focus on earning more and save as much as I can.
Now I find myself in the fortunate position where I’m making more than I imagined. I really want to sit down with someone and get advice on how to handle a portfolio that I feel ill-equipped to handle.
I’m skeptical of money managers who are pushing products and probably aren’t making these decisions themselves. Are there other services that offer just a second pair of eyes to give some financial advice?
- Facebook / DesignXXX pornoMax out 401k. Invest in SPY. Buy a house as soon as you can, and stop paying rent. There isn’t more to the game
- MINDBODY NygmaThere’s way more than what xxx says. OP, what you are looking for is a financial advisor. You’re spot on that it is very important and tough to find the right one. Trust one only when you have dependable references. It would be better if you google some thoughts around what to look for in an advisor and decide what’s important for you.Mar 102
- Microsoft HdnF84Recommend investing in a financial advisor, fee for service . I did so 15 years ago with USAA. The plan was 2000 bucks and a great road map to wealth. Total NW: 6.5m, TC:500k
- Microsoft / ProductRewardsmoreYou have $600k TC? calculate how much you need for your FIRE.
Something like this: https://www.chrishogan360.com/riq/
Invest and Spend wisely. Target investing SPY. Buy Rental properties if you / when have time for hassle and expect cash flow. Get rid of mortgage ASAP and buy everything with Cash (no mortgage)
- New tCot26As a former financial advisor and lawyer for many years I feel you. Couple of thots:
1) find a fee only financial planner who can help probe your mid to long term goals and develop a plan. You only pay them for the plan. Downside is the plans often start by asking when you wish to retire. I turn the plan on its head and plan to an event such as having enough cash cushion to withstand illness or no work for 2-3 years.
2) most portfolio folks charge 1% or thereabouts and dont beat the market index. Ive hired many and fired them all except one who is a contrarian. Much of the investing you can do yourself if you are a reader of macro news and dont trade in and out. If you must hire someone, force them to show you their results for past 10 years. Do not hire anyone who says it will take time to do as well as similar portfolios. That makes no sense, is an excuse for poor performance
- Gigamon / Engdonemore600k ?? What the.. what level r you ? What did you do to get there? Yoe?
- Still want to spend a couple hours with someone asking questions. I also constantly worry I’m doing something obviously dumb that I can’t see myself.
- Quora TfdN74Look for a fixed fee financial adviser that costs $1-3k based on your situation. Subscribe to r/personalfinance r/financialindependence and r/fatfire.
Find your at-work like minded group of folks (mailing lists, groups, chat channels). Happy to share more random aggregated advice if helpful.
- Intel Intc100$It all depends on what is your target achievement goals and your current age. Most of the work needs to be tailored based on individual situations. Write down your goals (not financial targets, but life goals such as when you want to retire and how you want to have your future life) , then draw and connect dots backwards. Once you feel you have enough money, money should not be the reason for your worry.... But your questin shows otherwise.