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never heard of them and there are very few companies that really help you prepare for retirement in a worthwhile way.
there are 2 parts to being succesful at investing and retirement planning.
part one is the accumulation stage. thats where we invest aggressively and we try to maximize every penny into a return.
we put together an appropriate asset mix and we save all we can.
those financial guys are a dime a dozen and most arent worth a penny of your money.
then there is part II .. thats where we attempt to get the right balance of life insurance ,roths, traditional accounts,taxable money ,annuities all working together to give our partner uncle sam as little a share as possible and to create a reliable income stream for you and your spouse. its no longer about growing richer, its about not growing poorer as this is the de-accumulation stage where we start to spend down to live.
this is where manipulating life insurance and traditional ira accounts with roths and taxable accounts can defeat uncle sam fairly well. its a real pro's game.
this is a critical part even more important than the first part. you can make do with less of a return if you save more in taxes.
these guys are few and far between. ed slott is one of the masters at this part of the game. i intend to use one of these guys myself when the time comes.
Last edited by mathjak107; 04-22-2011 at 02:29 PM..
I have looked at their site and I think they are a legitimate company. The question is what services do you need? A portfolio review. They can do that. Developing a retirement plan? Might be better off with a financial advisor (not a stock broker) that charges by the hour.
Only use them if they are free. ING manages my retirement account through my 401(k) and they subcontract out the forecasting and investment recommendations to financial engines.
If you dig down they can give you some interesting mixes based on your risk style and what models they use to forecast out what you will have at retirement.
In my opinion though, they will always tell you the same thing - invest as much as you can as aggressively as you can at a young age and get more conservative as you get older. And they'll avoid horizon funds. They'll also advocate a reversal of what I feel is a good mix between foreign funds and small/mid cap funds... I think no more than 20% of your portfolio should be foreign, but they once told me to go 40%! But it's free to me and I wanted to see what they thought. There's also a section where they give you access to all the research they've done on individual stocks too. It's a pretty sweet deal since its free.
But if its not free, you'll get no better advice from them than probably what you already get.
What if you are getting free service through your employer?
How can can a hold of Ed Slott?
Quote:
Originally Posted by mathjak107
never heard of them and there are very few companies that really help you prepare for retirement in a worthwhile way.
there are 2 parts to being succesful at investing and retirement planning.
part one is the accumulation stage. thats where we invest aggressively and we try to maximize every penny into a return.
we put together an appropriate asset mix and we save all we can.
those financial guys are a dime a dozen and most arent worth a penny of your money.
then there is part II .. thats where we attempt to get the right balance of life insurance ,roths, traditional accounts,taxable money ,annuities all working together to give our partner uncle sam as little a share as possible and to create a reliable income stream for you and your spouse. its no longer about growing richer, its about not growing poorer as this is the de-accumulation stage where we start to spend down to live.
this is where manipulating life insurance and traditional ira accounts with roths and taxable accounts can defeat uncle sam fairly well. its a real pro's game.
this is a critical part even more important than the first part. you can make do with less of a return if you save more in taxes.
these guys are few and far between. ed slott is one of the masters at this part of the game. i intend to use one of these guys myself when the time comes.
I have looked at their site and I think they are a legitimate company. The question is what services do you need? A portfolio review. They can do that. Developing a retirement plan? Might be better off with a financial advisor (not a stock broker) that charges by the hour.
That FA can do the same thing you can. You just need to study it. There are so many free tools on the web for you to use.
Financial Engines was offered by my employeer as a benefit. I felt I had my 401k ($1.3 million) well invested but they came in with a different view and I went with it. Can't complain so far as the returns have been good. In speaking with them they commented that my investment choices and diversification were good and in reality there changes were minor. When I asked how others from my company looked they said some were so far off the mark it was a shock that people at those job levels could be so ill informed on investments. My vote is have them or someone give your investments a "check up" every few years.
What if you are getting free service through your employer?
How can can a hold of Ed Slott?
today you cant actually see ed slott. he has folks though that are taught ,trained and operate under his guidance all over the country. if you call his office here in ny they will tell you who in your area is an associate.
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