Solo 401k

[airshot]

So, he knows money and doesn't lose because he's Jewish?

Many of the Jewish faith are very skilled at handling money, well known across the financial world. Would you want a plumber to fix your vehicle ?

 

[airshot]

The biggest thing people miss when selecting managers or investments are the management and investment fees.

Providers are not very forth coming on their management fees. I had to ask specifically about their fee structures for the subject to even come up.

While the fees seem rather small on paper, typically 1.0 to 1.50%, a 1/4 to 1/2% difference can add up to thousands over time.

My guy was up front right off the bat...hardly any. Yearly maintenance fee was 35 bucks, he gets a small fee when I make withdraws. Pocket change compared to what I could have lost. Fees should be discussed right at the start !

 

[nola mike]

Many of the Jewish faith are very skilled at handling money, well known across the financial world. Would you want a plumber to fix your vehicle ?

Dude, if you can't see how this is totally racist then I got nothing for you. "These (fill in ethnicity/religion/nationality) are known to be (fill in characteristic: criminals/rapists/musicians/good at math)". That sentence wouldn't fly.

Also, your analogy about a plumber fixing a vehicle is totally wrong.

 

[nola mike]

My guy was up front right off the bat...hardly any. Yearly maintenance fee was 35 bucks, he gets a small fee when I make withdraws. Pocket change compared to what I could have lost. Fees should be discussed right at the start !

Also, there's no way your guy is only making $35 a year off of you.

 

[dingbat]

My guy was up front right off the bat...hardly any. Yearly maintenance fee was 35 bucks, he gets a small fee when I make withdraws.

Where is the motivation to perform?
I want my investment manager to be as financially motivated as possible.

My guy works on Commission based on the balance of the account. He and I have both done very well the last five years.

 

[alldodge]

Lower the temp folks

 

[airshot]

Where is the motivation to perform?
I want my investment manager to be as financially motivated as possible.

My guy works on Commission based on the balance of the account. He and I have both done very well the last five years.

Build the account so he gets more when you start withdrawing....I have done better over the past 35 years than anyone else I have talked to. Been very happy with my returns...

 

[nola mike]

My guy works on Commission based on the balance of the account. He and I have both done very well the last five years.

Problem with that is that it can encourage overly aggressive investing, since it isn't really their money. Bigger problem is that the commission statistically is greater than with a passively managed low fee fund.

 

[redneck joe]

I will be finding a fiduciary to pay by the hour to consult with and manage my own from there with check ins along the way.

 

[Chris1956]

Gee, I pick out some mutual funds from top companies (fidelity, Swab, T Rowe Price, Vanguard, etc.) that fit my investment strategy (very conservative) and look up their loads. If too high, I pick another fund. I then leave 'em alone.

 

[redneck joe]

i get it, thats what i've done - but as I enter the retirement phase the complexity of money get pretty up there. SSI, tax rates based on withdraws, medicare etc.

plus, have you missed opportunities? I'm sure i have.

 

[Chris1956]

I had some more aggressive funds years ago, before retirement. They went way up and way down on a weekly basis. I decided that slow and steady up was best for me. I also do not want to spend the time and effort to watch and react to the market fluctuations.

Also, if you are buying and selling stocks or mutual funds in a non-IRA/401K, you can run up sizeable taxable capital gains pretty easily.

 

[nola mike]

I will be finding a fiduciary to pay by the hour to consult with and manage my own from there with check ins along the way.

Great idea if you can find one by the hour--most have decided that it's way more profitable to take a percentage of AUC. Which still ends up being sizeable. Fiduciary is the only way to go though if someone will be giving you advice/managing your money. IMO NOT being a fiduciary should be illegal. What professions are you allowed (or encouraged) to not act in your client's best interest but pretend that you are?