Posted by Dave H (MI) on March 11, 2015 at 07:57:20 from (50.108.31.233):
In Reply to: Financial Advisor???? posted by JD Farmer on March 11, 2015 at 06:07:45:
I'll tell you what I see and add in what little I know. I'm a CPA and routinely get asked to advise on investments. I refuse because I feel there are folks who devote their full time to studying such things and it would be unethical to advise on something when I am not truly qualified. BUT, I do get to peek into the lives of hundreds of people during the first few months of each year. First, I would be careful about going to the bank. You get what you pay for and those folks in the cubicles at the banks were likely tellers a year or two back. You want to check qualifications and not be too eager to jump at the cheapest option. Second, there is more than one level of investment advisor. The folks at the bank and also a lot of insurance salesmen are generally (but not always) only licensed to deal in mutual funds. Beyond that you have stock brokers who can assist you in buying in selling mutual funds and pretty much anything else. All kinds of financial planners and advisors in the mix until you get to the high end firms. These companies may or may not be brokers. Some are just investment counselors that place orders for you thru a brokerage. These guys are supposed to be carefully watching your account AND the market and they generally charge 1-2% of your balance to handle the account. They get that in the years where you lose money as well as the years where you earn money. I deal directly with a lot of these guys on behalf of my clients. Personable and knowledgeable, but I am not sure they do all that much better in a good year than I do investing on my own. If you think you have some savvy, then go thru the S&P or the Dow and pick 2-3 dozen stocks that you think are interesting. Track them without buying them and see if your reasoning for picking them is sound. Then when one goes down for no good reason, buy a little of it and see if it comes back. Balance that out with some good mutual funds you buy from someone you trust...bank or insurance or broker guy. These are good for balancing your investments because some are in bonds and some in stocks, etc. Keep some ready cash around at the highest rate you can find. One thing I can tell you for certain...don't buy on impulse (news articles, rumors) and don't panic and sell when things go down (buy, buy, buy).
We sell tractor parts! We have the parts you need to repair your tractor - the right parts. Our low prices and years of research make us your best choice when you need parts. Shop Online Today. [ About Us ]
Today's Featured Article - Choosin, Mounting and Using a Bush Hog Type Mower - by Francis Robinson. Looking around at my new neighbors, most of whom are city raised and have recently acquired their first mini-farms of five to fifteen acres and also from reading questions ask at various discussion sites on the web it is frighteningly apparent that a great many guys (and a few gals) are learning by trial and error and mostly error how to use a very dangerous piece of farm equipment. It is also very apparent that these folks are getting a lot of very poor and often very dangerous advice fro
... [Read Article]
Latest Ad:
Sell 1958 Hi-Altitude Massey Fergerson tractor, original condition. three point hitch pto engine, Runs well, photos available upon request
[More Ads]
All Rights Reserved. Reproduction of any part of this website, including design and content, without written permission is strictly prohibited. Trade Marks and Trade Names contained and used in this Website are those of others, and are used in this Website in a descriptive sense to refer to the products of others. Use of this Web site constitutes acceptance of our User Agreement and Privacy Policy
TRADEMARK DISCLAIMER: Tradenames and Trademarks referred to within Yesterday's Tractor Co. products and within the Yesterday's Tractor Co. websites are the property of their respective trademark holders. None of these trademark holders are affiliated with Yesterday's Tractor Co., our products, or our website nor are we sponsored by them. John Deere and its logos are the registered trademarks of the John Deere Corporation. Agco, Agco Allis, White, Massey Ferguson and their logos are the registered trademarks of AGCO Corporation. Case, Case-IH, Farmall, International Harvester, New Holland and their logos are registered trademarks of CNH Global N.V.