 Good books about investing? |
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It is easier for a partnership to borrow money and to hold good employees that sole proprietorships because?
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 What did you do with your mutual fund investments ? |
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My husband desperately wants to buy a home because its such a great time to purchase property. He feels that renting is wasting money.
Right now cant quite qualify for enough money to ... |
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| If i take them to a bank, will get get what i paid for them. Most were purchased for $500 and mature in 30 years being 1,000. Can i expect to get $500 dollars back for them? Or am i unable to cash ... |
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 Explain short selling? |
I read about it on wikipedia but..i just dont get it.
how would someone benefit from short selling by buying from someone and then selling at lower price and then buying it back?
A... |
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| What would be some good stocks to invest for a child that they would hold onto till they reach middle age ?... |
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| Ok, totally ignorant about stocks here...but just curious. From time to time i browse the business section of the paper and find that some stocks (if you put $1000 in them for a week) would have ... |
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| I've been hearing a lot about it, and am wondering if it's possible to realize the returns that have been touted? Any suggestions on how to get started? I understand there is a larger ... |
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| i want to abandon my mortgage i can afford to keep it my condo investment but i don't want it..............what are the downfalls other then bad credit?????????????... |
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 Is the stock market open on Martin Luther King Day? |
| Just wanted to know...is the stock market open on Monday, Martin Luther King day?... |
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 What do you think of my mid-caps stock investing strategy? |
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goldiecola | How can I determine if a fee for a financial adviser is a reasonable one? |
I make a modest income (40K), only own a car and a home, nothing fancy and am just looking to start saving for retirement and protect what little assets I have! The annual fee suggested by this company (should I decide to hire them) is $600. Is this reasonable? |
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non_apologetic_american
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$600 annually is unrealistic for you. I say that because common wisdom is that a person should save at least 10% of their gross income a year for retirement. In your case, that would be $4,000.
That $600 represents a starting loss of 15% on your $4000 investment. Most financial planners, even the best ones, cannot average 15% earnings per year, on average. Said simply, you will likely be losing money each year in your investments due to the high fees compared to your rather small contributions.
If you were investing 100s or thousands a year, then maybe $600 would be okay.
Make sure to max out 401K contributions if you employer has a 401K program. If they do, make sure you at least contribute enough to get the full employer match, if they have that.
Good luck.
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redfearn_jc
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Investment advisors are concerned with themselves. They will direct you to investments where they make the greatest commission, and are less concerned with how much you make, or dont make. Try looking at this website
www.economicinvest.com
It provides research that you can use yourself, and save the $600 |
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derek
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The fee is only an issue when their value is in question.
It's hard for us to determine how much value you place in their services. |
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Hmm
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Well, you can do some research to compare prices, thats the only way you can really tell. But the best route would be not to pay anyone. Does your company offer 401k, if it does, that is definitely where you want to start, because most will match up to a certain percent. You might even try going to your bank and asking the banker, most bankers need to be licensed now (well in major banks) and have them determine where your money should go, and thats free. You could be using the 600 to invest with and since you did state you make modest income, you shouldnt worry quite yet about hiring a manager. There's not much they can do for you yet that a licensed banker couldnt.
When you go into the branch ask them if they are Series 7 or 66 licensed. Those are the ones that can actually offer you non-insured products. You might also try looking into putting your money in a CD at a credit union, (they offer the best rates, sometimes better than stock return rates) and very reliable. Try to make an IRA CD. |
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nessadipity
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Here's one thing to remember-Research. Call other companies and see what their annual fees are. Different companies vary. It's better to know what others are offering. Some will be lower and some would be higher. My fiance' is paying his financial adviser (CO: Charles Scwab) $800.00 and something yearly... Of course I'm not giong to tell him it's too high but I do know that there are some out there that can go lower or vice versa higher. |
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JoePonzio
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It depends on what services they are providing. If they are simply going to invest you in a few mutual funds, you shouldn't pay more than about 1% of the account value (don't pay commissions). If you are paying $600 for a $15,000 account, you are being charged 4% ($600/$15,000).
If they are doing more, like proactively getting you out of any debt (not just handing you a budget worksheet), managing a $60,000+ account, or doing some estate planning, it may be worth it. The question is, how much are they going to work for it?
Typically advisers will put smaller clients in mutual funds, call them every six months or year, and otherwise forget about them. If this is what you can expect, you shouldn't be paying $600. |
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jplrvflyer
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No, I don't think it's reasonable. You can do it yourself. You'll need to educate yourself a bit, but you sound reasonably intelligent. (You were able to formulate your question clearly with no errors in spelling or grammar.)
Avoid fad investments. Make sure you are diversified. This means you need to own a wide variety of investments. Think of it as percentages -- you don't want any portion of your investments to represent too large a share of your total assets. Because you own a home, until you have accumulated a lot more money, you may want to avoid additional real estate, for instance. This means you probably want to invest in the stock market.
For a small portfolio, the best way to stay diversified is to invest in either mutual funds or index funds. Index funds are managed to represent a particular stock index as closely as possible. For instances, you may pick an index fund that tracks the S&P 500 (which is what I would pick if I were buying index funds). This means that your investment should improve at the same rate that the S&P improves.
Mutual funds are managed differently. Someone (or some team) picks the stocks the fund will own. Some funds outperform the index funds, some don't.
If you go to your local book store, you can find all sorts of books about this. They'll tell you how you can buy funds and the different things to look for.
Then, I would pick a reputable fund. Vanguard Funds at http://www.vanguard.com is one such firm, but there are others. You will probably want to invest in "no load" funds. But the Vanguard Funds web site has a lot of information to help you educate yourself.
Good luck. Remember, stay diversified. And if the stock market slides, hang onto your stocks, don't sell them. They'll go back up. |
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heywood
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You can start IRAs or mutual funds with no fee. Do your research. |
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