Any financial guru's here?

[arewethereyet]

Just look at reviews online.  Make a few calls.  Go to a couple consultations and decide who you think will work for you and in your best interest.

I think many can remember whe Blockbuster Video existed. I was the guy who walked through the video store for hours wondering if I would score a good movie or rent a lemon.

This is what I am feeling right now.

I offered you what I think is good advice.  A consultation with a financial advisor doesn't mean you have to use them.  

You are going to have to make a decision or just hope for the best as things stand - which is a decision in itself.

Good luck in whatever you decide to do.  I would hate to see the money your mom worked so hard for to not do what it was intended to do.

 - shrug-  I tried

[Brian37]

In all seriousness, the advice I am getting here from multiple people seems to be the same advice I have seen on lots of subjects, "get a second and third opinion."


I have to say this is a hard road to go, considering corporate monopolies.

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I think many can remember whe Blockbuster Video existed. I was the guy who walked through the video store for hours wondering if I would score a good movie or rent a lemon.

This is what I am feeling right now.

I offered you what I think is good advice.  A consultation with a financial advisor doesn't mean you have to use them.  

You are going to have to make a decision or just hope for the best as things stand - which is a decision in itself.

Good luck in whatever you decide to do.  I would hate to see the money your mom worked so hard for to not do what it was intended to do.

 - shrug-  I tried

You gave me good advice, so it is not you. I still worry about the corporate world selling me a bill of goods to keep business.

[arewethereyet]

In all seriousness, the advice I am getting here from multiple people seems to be the same advice I have seen on lots of subjects, "get a second and third opinion."


I have to say this is a hard road to go, considering corporate monopolies.

---

I offered you what I think is good advice.  A consultation with a financial advisor doesn't mean you have to use them.  

You are going to have to make a decision or just hope for the best as things stand - which is a decision in itself.

Good luck in whatever you decide to do.  I would hate to see the money your mom worked so hard for to not do what it was intended to do.

 - shrug-  I tried

You gave me good advice, so it is not you. I still worry about the corporate world selling me a bill of goods to keep business.

Not every financial advisor is a big corporate entity.

We have a man here in town with his own advising business and team and is highly respected.  

You are getting in your own way with your corporate phobia...you do know that there are corporations behind every penny in those annuities, right?

[BrianSoddingBoru4]

I have to say this is a hard road to go, considering corporate monopolies.

Sorry, what have corporate monopolies got to do with this? I don’t know what sort of area you live in, but there must be dozens of financial advisers within reach.

What ‘monopolies’?

Boru

[Brian37]

I have to say this is a hard road to go, considering corporate monopolies.

Sorry, what have corporate monopolies got to do with this? I don’t know what sort of area you live in, but there must be dozens of financial advisers within reach.

What ‘monopolies’?

Boru

It isn't a matter of one case, it is a matter of long term law making.

The trend over the past 40 years has favored deregulation. It is why Wells Fargo got away with what they did. It is why coal ash and GENEX got dumped into our water supplies. 

It is why we have "reverse mortgage" bullshit. The reason why we have payday loans en mass.  

Our current laws favor giant corporations.

[BrianSoddingBoru4]

Sorry, what have corporate monopolies got to do with this? I don’t know what sort of area you live in, but there must be dozens of financial advisers within reach.

What ‘monopolies’?

Boru

It isn't a matter of one case, it is a matter of long term law making.

The trend over the past 40 years has favored deregulation. It is why Wells Fargo got away with what they did. It is why coal ash and GENEX got dumped into our water supplies. 

It is why we have "reverse mortgage" bullshit. The reason why we have payday loans en mass.  

Our current laws favor giant corporations.

I think I see. You’re concerned that a financial planner might have you invest your money with someone whose corporate practices you disapprove of. That’s legitimate.

But bear in mind that a fiscal adviser can only advise you, they can’t force you to invest in something you disapprove of. But you’re going to have to do a LOT of homework.

Boru

[Brian37]

In all seriousness, the advice I am getting here from multiple people seems to be the same advice I have seen on lots of subjects, "get a second and third opinion."


I have to say this is a hard road to go, considering corporate monopolies.

---

You gave me good advice, so it is not you. I still worry about the corporate world selling me a bill of goods to keep business.

Not every financial advisor is a big corporate entity.

We have a man here in town with his own advising business and team and is highly respected.  

You are getting in your own way with your corporate phobia...you do know that there are corporations behind every penny in those annuities, right?

I have constantly argued that not all wealth is bad. I mean that. But I also look at at the global scale and human greed. I won't falt the lady who serviced my mother  for decades prior to her passing.  But the lady who serviced my late mother is no longer there. And outside banking, I have seen lots of mom and pop shops in any business get sucked up by corporate greed.

I am not currently dealing with the same lady who financially advised my late mother.

[Fireball]

Talk to your friends and acquaintances about who they use to do investing for them. My parents-in-law vetted the agency I'm using. They have quite a record. My PiL retired with $X, their investment is now worth $14X, and there is a required annual disbursement due to age that is almost the amount they retired with and invested- and it is still increasing. That is of course, 30 years in. Too bad for you that they are on the opposite coast, but there are bound to be others near you. My own account has increased about 30% in the last 3 years. And they only charge about .07% to do all that!

[arewethereyet]

Talk to your friends and acquaintances about who they use to do investing for them. My parents-in-law vetted the agency I'm using. They have quite a record. My PiL retired with $X, their investment is now worth $14X, and there is a required annual disbursement due to age that is almost the amount they retired with and invested- and it is still increasing. That is of course, 30 years in. Too bad for you that they are on the opposite coast, but there are bound to be others near you. My own account has increased about 30% in the last 3 years. And they only charge about .07% to do all that!

Sound advice but I am going under the assumption that Brian doesn't run in a circle of people with inherited wealth.

[Brian37]

Talk to your friends and acquaintances about who they use to do investing for them. My parents-in-law vetted the agency I'm using. They have quite a record. My PiL retired with $X, their investment is now worth $14X, and there is a required annual disbursement due to age that is almost the amount they retired with and invested- and it is still increasing. That is of course, 30 years in. Too bad for you that they are on the opposite coast, but there are bound to be others near you. My own account has increased about 30% in the last 3 years. And they only charge about .07% to do all that!

The  point isn't about increase. Right now, if I do nothing, I will survive short term. or at least I hope so. And right now it seems that way.  

I just want to know that what I am in will last long term.

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Talk to your friends and acquaintances about who they use to do investing for them. My parents-in-law vetted the agency I'm using. They have quite a record. My PiL retired with $X, their investment is now worth $14X, and there is a required annual disbursement due to age that is almost the amount they retired with and invested- and it is still increasing. That is of course, 30 years in. Too bad for you that they are on the opposite coast, but there are bound to be others near you. My own account has increased about 30% in the last 3 years. And they only charge about .07% to do all that!

Sound advice but I am going under the assumption that Brian doesn't run in a circle of people with inherited wealth.

My late adoptive mother and late adoptive father were both middle class public school teachers. So no, while my mother left me a sum, she did not leave me what Trump's father left him.