Do ppl in this bowl use financial advisors? If so, what value do they add to justify their fees?

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Nope. I also don’t have $10m+ in investible assets.

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Yeah K1 has it. If you have PE fund money, it can make sense for entree to funds.

Otherwise for the most part you’re paying 1% to underperform markets

I do not, and technically I am one (thank you, Dodd Frank). Any idiot can pass the Series 65.

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It is very easy. I took it and started an investment advisory firm that only advises the funds I manage. Even though we’re in commercial real estate, buying LLC member interests is advising an entity (fund I run) about the purchase and sale of a security. So I had to become a financial adviser to essentially advise myself. A total joke, but, well, government and all. And the Series 65, I’ll reiterate, is extremely easy.

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I have one. I'm 25 with ~$150K in assets but I have property and want to own more, so bouncing questions off of him and his knowledge has helped thus far

Fees are 1%. He calls me and makes trades on my behalf, focuses on other markets I hadn't thought of, helps with interest rate knowledge, loans I can take out on my portfolio/401K I didn't know about.

I majored in finance work in finance strategy so am pretty financially literate; however, his active management and advice has helped my portfolio and knowledge grow

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If you look @ modern wealth, value is primarily derived from planning, banking, tax strategy and alts.

Planning - strategy to balance various elements of one's life, goal setting, ect
Tax strategy - working with highly concentrated stock positions, tax loss harvesting through brokerage accounts, ect
Bank - lower mortgage %, lines of credit, ect
Alts - mostly private investments, non correlated to public markets, better risk/ return
Apologies on any spelling mistakes typing and walking. Hope that helps

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No. Financial advisors don’t tell me anything I can’t learn on my own. Plus they have fees that are obnoxious.

Yeah paying a 1% fee to underperform the market is wild.

D1 I think your advisor has conditioned you to think you can't do this stuff yourself but it really is so easy. I would never pay 1% of assets for the things you mentioned in your other comment.

What's the typical minimum investment size in alternatives through wealth managers? (E.g. for PE funds?)

I found value with mine. Applied a good risk tolerance and goals for both me and my wife and suggests investments accordingly. Has access of alternative investments. Got me over my analysis paralysis. He is a fiduciary and has a handle on my entire financial situation. Assists with estate planning. If I get hit by a bus, my family will have someone to step right in who knows the entire financial situation and complexities. He is a fiduciary and can serve as a trustee if necessary. I retired early and I want to stay retired. If I screwed up my financial situation it would cause some marital stress. I also don’t want to focus on investing all the time. I want to live out my retirement dreams and just monitor performance. Finally based on my assets, it is a .25% fee.

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Additional Posts in FIRE Financial Independence Retire Early

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Is contributing to an HSA better than a taxable brokerage in CA?
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Or only superior if I avoid taxes in HSA via Treasury notes/IBonds?

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newbie here for investing. where should i be most focused.
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Do you count your pension as part of your net worth?

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I’m curious how much other people with similar incomes save/invest a year; I’m a 24M, making 70K a year in a HCOL city. I saved about $12K in my first year of working out of college, and I feel like that’s pretty good but I could’ve done better. My rent isn’t too pricey, but I went on 3 vacations, go out to the bars frequently, and spend pretty freely on food. Anyone care to share their income and corresponding savings for FIRE?

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I’ve been reading more and more in other financial forums about people refinancing into interest-only mortgages as a means of maximizing cash available for investment. Help me understand the argument for doing this? I’m starting to see it could make a lot of sense for people who 1) have a ton of equity and aren’t worried about the housing market flinching, 2) probably won’t keep their house forever, and 3) already have a high net worth. Thoughts?

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Do I have too much cash ($35,000) in my high yield savings account? No immediate plans to buy a house (but could be an option). Rent is $2100 and have no other debt or month financial obligations.

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Do people tend to age out of wanting to FIRE?

In your 20s-30s, you don’t know much, you’re told what to do, you have few financial resources so you are tied to your job. Under these circumstances it makes perfect sense why you would want to FIRE asap.

But eventually you advance up the ladder, you are now the boss and your people do all the grunt work. You also have built up expertise which makes the job easier. And you are making the best money of your life. FIRE is no longer so pressing.

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likeupliftinghelpfulfunny

Currently looking to refinance my first home (4.125) and considering a few options. What do you recommend?

Background: 36, single and hoping to meet someone, would move from townhome at that point. Would like to save on interest & reduce costs in the time being. No other expenses but car is 10 years old and would prob need a new one within 5 years.

Loan amt: $220k
Current Principle + Interest 4.125% : $1104

Refinance options:
7/6 arm 2.25%: $848
30 yr 2.87%: $920

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Anyone here retire in late 30s or know someone that has?

If you had an extra 50K laying around and wanted to take advantage of the recent correction in growth stocks, what you invest in? ETFs or individual stocks welcome. Won’t need the funds for at least 6-12 months

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I hit my FIRE number today at 50yo!!!! Had to tell somebody.

likeuplifting

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