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SVTPerformance's Chain of Restaurants
Road Side Pub
Time For An Investment Manager?
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<blockquote data-quote="Riddick" data-source="post: 16761695" data-attributes="member: 143188"><p>Roughly 10 years ago I decided to hire an investment manager based on multiple co-workers recommendations. I ended up moving all of my money with the exception of my TSP over and was charged a front load fee of roughly 2%. Also, all the future money I invested was subjected to the front load fee. Once I figured out what was going on I pulled chocks immediately. I lost thousands in the process but I learned a valuable lesson, do your own research..... don't trust others. If looking for investment managers do like someone posted above and work with ones who charge flat rate fees.</p><p></p><p>Since then my wife and I focus on our TSP as we feel thats the best bang for our buck. After maxing that we then start investing in our Schwab Intelligent portfolios. They asses your risk and goals and the fund adjusts itself accordingly. We keep our Roth IRAs, Emergency fund, kids funds, and general investment fund for leftover money with Schwab. It works for us but there is nothing wrong with investment managers, just dont deal with one that charges front end load FEES or tries to sell you WHOLE LIFE insurance........</p></blockquote><p></p>
[QUOTE="Riddick, post: 16761695, member: 143188"] Roughly 10 years ago I decided to hire an investment manager based on multiple co-workers recommendations. I ended up moving all of my money with the exception of my TSP over and was charged a front load fee of roughly 2%. Also, all the future money I invested was subjected to the front load fee. Once I figured out what was going on I pulled chocks immediately. I lost thousands in the process but I learned a valuable lesson, do your own research..... don't trust others. If looking for investment managers do like someone posted above and work with ones who charge flat rate fees. Since then my wife and I focus on our TSP as we feel thats the best bang for our buck. After maxing that we then start investing in our Schwab Intelligent portfolios. They asses your risk and goals and the fund adjusts itself accordingly. We keep our Roth IRAs, Emergency fund, kids funds, and general investment fund for leftover money with Schwab. It works for us but there is nothing wrong with investment managers, just dont deal with one that charges front end load FEES or tries to sell you WHOLE LIFE insurance........ [/QUOTE]
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SVTPerformance's Chain of Restaurants
Road Side Pub
Time For An Investment Manager?
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