Late Bloomer Wealth

Late Bloomer Wealth

Dedicated to Helping K12 Teachers with their 403(b) & 457(b) plans.

Financial Advisers

Seven Benefits of Financial Literacy with One Bonus!

Leave a Comment / Fee Only Fiduciary Financial Advisors, Financial Advisers, LAUSD Employees, PreK-12 Educators / By

If you are thinking about hiring a financial adviser, you might be wise to read my experience of unethical “advisers” who took full advantage of my naivete to impose unorthodox legal commissions and high costs.

My financial story is remarkably simple. I have always given people the benefit of the doubt, even though I was taken advantage of when I was younger, which cost me $6000. I call this the youthful “tuition” of getting wiser and knowledgeable about everything financial, and now helping others. Some may regret this negative and costly experience for the rest of their lives. I do not. I did something about it—my suggestions about what I do now are contained in this blog post.

Two questions to ask your financial adviser

Leave a Comment / Annual and per quarter returns, Financial Advisers / By

You may have read many blogs or heard the vital questions to ask your financial adviser. They range from 5 to 20, 30 questions or more. People mean well but it’s too many questions. I think asking that many questions are a waste of time because financial advisers are paid to keep you calm about your money. And they are incredibly good about answering every question!

Hence, there are two problems, a. you have nothing to in mind to compare, and b. the sheer number of questions is a gold mine for the adviser because they can talk excessively while not provide anything of value.
So I reduced the number of questions to just two. Because
a. I will give you the answers about my portfolio, so you have answers in mind when you talk with your adviser.
b. you can focus on two of the most key details of how your investments are performing compared to the broad stock and bond market returns, and you can begin to monitor your financial adviser to confirm that he or she is looking out for your best interests.

In the final analyses, when it comes to your financial portfolio and you hired a financial adviser, the following two questions could change your relationship for good with both your adviser and your precious savings and investments forever.

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