Related Posts
Conversation Starter
More Posts
Leaving this here
Need some urgent help can anyone DM me, Please
31/M/NYC/260k Freelance creative
Hello - hope everyone is having a great weekend. I'm looking into risk assurance opportunities at Meta, especially Application Manager, Controls (min 5 YOE) and Manager, Compliance (min 12 YOE). I am a Senior Manager with 9 years of IT risks assurance experience. Does anyone have any thought on which position I should apply? If anyone currently at Meta could share your experience, that would also help. If anyone is open to providing referrals, I could provide my background. Facebook (Meta)
Additional Posts in Personal Investment Chatter
Any good ETFs to invest Roth into?
Pro
Conversation Starter
Anyone else long on AMT?
Conversation Starter
Used car prices starting to come down?
New to Fishbowl?
Download the Fishbowl app to
unlock all discussions on Fishbowl.
unlock all discussions on Fishbowl.
I personally just stick to a handful of index funds and call it a day. Total US market, total non US market, total US bond market, and a few others. I suspect it will do fine over the long run and has so far. It keeps things simple and removes temptation to mess with it since I am just getting market returns and not trying to beat. It works for me. If you talk to a fidelity advisor, I would imagine they will try to talk you into paying to have them manage the portfolio. That is fine if you want that but I would pass
I haven't found working with a financial advisor to be more beneficial then doing my own research. A tax advisor on the other hand is worth their weight in gold (in my situation at least)
Chief
A tax accountant will help you calculate how much you owe the government. A tax advisor will help you reduce how much you pay the government by suggesting opportunities to reduce your taxable income.
The first question you should ask any tax person is what they think about taxes. If they say “pay them”, then move on. If they say “there are lots of ways to reduce your tax burden”, that’s a good sign that you’ve found someone who gets it.
A tax accountant often charges a fee around $100 to $500. A tax advisor often charges a fee from $500 to $2k. The amount of return you get is closely correlated to how much you pay up front.
I tried this once and it immediately became clear that with my very limited knowledge I still knew more than they did, so I'm not going to pay somebody who isn't smarter than me about these things to "advise" me. I agree with paying a tax advisor to find legal strategies to lower your tax burden, learn what they are, and then do it yourself next year.
Unless you have $10-$12m to manage, Fidelity etc will assign a rookie. You are better off doing it yourself. VTI/QQQ
Chief
Y’all… you’re not really paying for the 25 year old client-facing advisor when you hire a Fidelity, just like CEOs aren’t really paying for the 22 year old BA when they hire consultants. You’re paying for the portfolio construction and lifecycle asset allocation engines in the back, built and maintained by a team of PhDs and CFA charter holders.
The phone rep is just there to help you find answers and do basic account management and the reason the cost is so low for you is because that’s a $60k phone rep with a few months of training, not a $600k investments expert.
Thanks McKinsey 1. How Would you rate Betterment ?
The reality is most "financial advisors" are just salesmen and not financial geniuses. They all act like they can beat the market but if they could consistently do it they wouldn't be working in that role.