Two quick articles that my good friend Ted emailed the other day. The first one is near and dear to our hearts as our entire book, “Late Bloomer Millionaires” is a how-to guide for late starters because we were late starters and made big mistakes, yet we retired comfortably. Click here for this article of the many excuses for people to delay (or not) plan for retirement. Don’t delay any longer. The consequences can be tragic.
Read the link below about an unfortunate story of getting sold something that was not in this retired couple’s best interests: http://www.nytimes.com/2014/10/12/business/mutfund/before-the-advice-check-out-the-adviser.html?_r=0
Don’t Get Taken, Here’s How
Finding and Interviewing a Fee-only Fiduciary Financial Adviser
You have heard this many times. If you need professional assistance with your investments, select a fee-only fiduciary financial adviser. There is a free FREE 100 page book by Paul Merriman title, “Get Smart or Get Screwed!” that details the entire process from beginning to end. The title is a bit sordid, but delightful. (Click here to download Paul’s free book). One part that I liked as it gets right to the point when he wrote:
“When you’re paying for advice (and you always pay, one way or another) you have two basic choices:
Choice #1: You pay your advisor, and the advisor works for you.
Choice #2: Somebody else can pay your advisor and, in effect, the advisor works for somebody else.”
Bottom line: If you write the check to the advisor then you are in charge and the advisor works for you. Any other payment scheme puts you at risk of the adviser not working for you and that is a big risk.
Thank you Ted for the two articles.
If any of you find an article that you think should be shared, contact me.
Have a great day,
Steve and Dan
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