Whatever you do, don't beat yourself up over whatever financial decisions you made in the past including hiring an Advisor. I know that it took me many years of experience and study to learn what I know today and I realize that most people don't share my passion for these topics. You did the best you could with what you knew at the time. I know that I have made mistakes myself. I do think most people would benefit from an Advisory relationship, the problem is trying to find the good ones as everyone talks a good game. I want to encourage you to keep studying and to keep learning and remember that everyone here had to go through a learning process to learn what they know today. I really want you to be encouraged and to feel good that you are taking a look at some things now and evaluating them based upon what you are learning. Best wishes, Ned.Dividends were only about 2% last year in total from the "Dividend" model account per my 1099. I think the idea is that "Dividend" is also growth stuff but they don't churn that model as much as the "Growth" model.Putting dividend stocks in taxable and growth in IRA is completely backwards. Costing you a lot of unnecessary taxes
I spoke earlier with the person that manages the "Growth" stuff. The goal isn't to try to beat the market - the goal is to ensure that clients don't get hit too badly in .com and 2008-style downturns. I had to look up how VFIAX did during that period - seems the summer 2007 price didn't return until early 2013, though I'm not sure anyone would have done well during that.
They're willing to review my accounts with them and externally to see what makes sense from an allocation perspective (no cost to this), so I sent over what I have separate from them.
That said, I'm not buying that these models with AUM attached are doing me any good at 37 - even a longer downturn like 2008 is manageable (and DCA would buy in at a "discount").
Statistics: Posted by nedsaid — Wed Sep 04, 2024 8:30 pm — Replies 35 — Views 2378