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multiple 7 figures ,,, no house but do have investment real estate . i do use the fidelity insight newsletter but never paid an adviser to manage anything for us . age 66
49 2m+ including house. We use an FA. Unfortunately we need FA not to invest money for us, but to put a buffer between my husband's panicky reaction every time the market burps and him making snap decisions. It gives him someone to call and talk to when he needs to be talked off the cliff.
Really? Every FA who introduces themselves to me always gets paid regardless of his/her performance once they get to that step of introducing their services. Not that I'm super interested in hiring a FA, but I'll be more open minded to the FA's who only get paid if they make you money.
I don't have a FA, but I think at some point I need to hire a tax accountant. At least for a couple of years until I learn more. I did my taxes this year and it just get more and more complicated as your assets grow, esp since I have rental income. I'm 40 yrs old.
nw 2.5mm. This is why I don't use an FA. Their interests are not in line with mine. When you get paid based on Assets under management (AUM) then that's the game. Get more AUM, performance becomes second place. And they're just sticking you into funds anyway. i invest in real estate syndications and make 16-22% annually. I'm in lot's of them. Deal sponsors get paid when the deal makes money. Way better setup! No stocks for me.
49 2m+ including house. We use an FA. Unfortunately we need FA not to invest money for us, but to put a buffer between my husband's panicky reaction every time the market burps and him making snap decisions. It gives him someone to call and talk to when he needs to be talked off the cliff.
49 2m+ including house. We use an FA. Unfortunately we need FA not to invest money for us, but to put a buffer between my husband's panicky reaction every time the market burps and him making snap decisions. It gives him someone to call and talk to when he needs to be talked off the cliff.
And this is a perfectly good reason to have an advisor. I had to learn the hard way before I stopped panicking. Same with chasing impulses....not good.
Lol... Too much info. I don't think I want to share...
Same here.
Our nw is higher than many, less than many.
As my father used to say " my salary is between me, my boss and the IRS ".
Same with nw. Its between us, the IRS and no one else, not even our named heirs until they actually inherit it.
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