View Full Version : Financial, retirement planners on here?
brianakell
12-04-2013, 22:27
Recommendation, or someone on here who does this stuff?
hghclsswhitetrsh
12-04-2013, 23:33
Country financial. I have a friend who's an agent there.
Interesting concept that I just started researching is whole life insurance, for retirement and death benefits.
Anything specific you are looking for.
Just to let you know that there are 2 types of financial advisers.
1 One will give you all the financial goal/plan this and that for a fee (RIA/66)
2 Another one is give you all the financial goal/plan this and that without a fee, but sell you on account(s). (RR/63)
Make sure you know the adviser who works at #1/2 depending your suitability.
#1 advisers are extremely rare. If you are willing to open some retirement account, you can probably get an advise without any fee.
Retirement Planning Center (of the rockies). They are in Loveland. Super good folks!
Exactly! Seems like #1 are impossible to find. Everybody else is a salesman and it's extremely frustrating.
Just to let you know that there are 2 types of financial advisers.
1 One will give you all the financial goal/plan this and that for a fee (RIA/66)
2 Another one is give you all the financial goal/plan this and that without a fee, but sell you on account(s). (RR/63)
Make sure you know the adviser who works at #1/2 depending your suitability.
#1 advisers are extremely rare. If you are willing to open some retirement account, you can probably get an advise without any fee.
Exactly! Seems like #1 are impossible to find. Everybody else is a salesman and it's extremely frustrating.
very true. cpa, tax attorneys, insurance agents are not immured to this either.
Financial companies are very aggressive on their retail side. Most of advisors from top financial firms now have life ins license for estate/univ life even at a traditional brokerage house or advisory firm.
Lots of CPA and Tax attorneys are becoming sales person as well. Even ~13 years ago, retail side of the firm I worked at was giving free continuing education to CPA and Tax Attorneys and try to build relationship with them.
Even CPA and Tax Attorneys gets to register with the financial companies after getting licensed by a firm. Then, they can refer their clients to the Financial Advisors. After selling the product, they have some kind of split spiff/commission program for refering CPA/Tax Att. Again, those guys has to register (and get licensed) with the company to do so.
(Just like Oncologists getting some hefty commission from pharmaceuticals or biotech companies for biotech products or biologics.)
Insurance companies as well. Even mutual companies are licensing their insurance agents with basic ser7/63or66 to sell mutual funds, open money market acct, annuities, or even an individual securities.
Bank tellers cross selling CD/Savings is not even aggressive comparing with these guys.
My advice is to go with a financial institution which carries your specific product(s) you need. Other smaller brokerages will carry the same products from company you like. However, there might be a small little "Fee" on top of all the mountains of fee it is already baked into the products.
I found a reputable firm that I vetted and then paid their fee and completely puzzled them with my retirement plan. It had never occurred to them, they were just stumped.
Educate yourself, be in control of your own retirement. Take a path that works for you.
The advice the guys here have was better than the guys with the masters degrees.
funkymonkey1111
12-05-2013, 08:13
Dave Ramsey has "endorsed local providers" and has financial planners--you might look there.
Also may look at his views on whole life, too, if somehow you are led down that path
ChunkyMonkey
12-05-2013, 12:04
I found a reputable firm that I vetted and then paid their fee and completely puzzled them with my retirement plan. It had never occurred to them, they were just stumped.
Educate yourself, be in control of your own retirement. Take a path that works for you.
The advice the guys here have was better than the guys with the masters degrees.
This! For tax shelter questions or financial planning to investor clubs. Find folks that are above and beyond you and learn by example.
Traditional financial advisors have proven to destroy your portfolio every decade or so then celebrate huge gain while you simple recover. Most financial advisors won't even show you their own personal portfolio and history while expect you to fork over your retirement plan to them.
I gained so much more financial education and experience on the poker table rather than any classes or be the so called financial expert.
brianakell
12-05-2013, 12:35
I gained so much more financial education and experience on the poker table rather than any classes or be the so called financial expert.
Ok, so Ill host poker night, and we'll discuss! Who's in? [ROFL1]
No, really, Im actually serious. Havent had any good advice yet that makes any sense from "experienced" planners. All smoke and mirrors, invest here, there, and look you just make $. With the last fews years, I have a hard time trusting a lot of the traditional 401k etc stuff, but Im willing to admit Im wrong too!
ChunkyMonkey
12-05-2013, 12:42
Ok, so Ill host poker night, and we'll discuss! Who's in? [ROFL1]
No, really, Im actually serious. Havent had any good advice yet that makes any sense from "experienced" planners. All smoke and mirrors, invest here, there, and look you just make $. With the last fews years, I have a hard time trusting a lot of the traditional 401k etc stuff, but Im willing to admit Im wrong too!
Why not? Build your own network of friends who have the same interest.. And work up the ladder through serious investors/business owners.
I meet with few friends who just gotten started wednesday afternoon then with different set of sharks later that night. Hire a hot chick dealer, make it cigar night... Although sometimes this can turn into pissing contest on who makes money the most within certain timeframe. Either way, I learn a lot every week.
COAR needs to have our own lil group on this topic.
TheWeeze
12-05-2013, 12:50
Dave Ramsey has "endorsed local providers" and has financial planners--you might look there.
Also may look at his views on whole life, too, if somehow you are led down that path
I second this. I'm with a company now that is all about the whole life insurance and because of that I'm looking at changing companies entirely. It wouldn't be so bad if he didn't bring it up every single time we talked. I'll probably look into one of their ELPs at the beginning of the year.
Why not? Build your own network of friends who have the same interest.. And work up the ladder through serious investors/business owners.
I meet with few friends who just gotten started wednesday afternoon then with different set of sharks later that night. Hire a hot chick dealer, make it cigar night... Although sometimes this can turn into pissing contest on who makes money the most within certain timeframe. Either way, I learn a lot every week.
COAR needs to have our own lil group on this topic.
how much can you make with $1000 thread?
Anything can be DIY.
I am not saying you should do this, but if i was an stating investor with main objective being a retirement planning. I would:
1. talk to CPA, and see how much I should invest to get a tax break.
2. Open IRA/ROTH and money market and just invest/trade in index funds for average index gains.
3. Goto insurance agent and just purchase some death benefit (such as univ, term, mortgage life, etc)
4. Just read wsj, barrons or some articles to allocate or change your fund base on your knowledge and recommendation.
IF you think you are intermediate, advanced, professional, or owner of small hedge, strategies would change astronomically.
Life insurance is a good addition to your portfolio but should definitely not be your only thing. People that say life insurance is a waste probably haven't actually sat down and looked at what it can do for you. This also varies by your age/health/etc. The abilities of your policy depend a lot on your age/health. Younger people can get some pretty awesome policies but most of them don't think about life insurance.
Batteriesnare
12-05-2013, 14:06
I also would be very interested in a Poker/Investing/Retirement night!
SamuraiCO
12-05-2013, 14:24
I use my NW Mutual insurance guy. His name is Shawn Copeland in the tech center location. I needed to have NW to convert my term life to whole life. Still has death benefits like a term life insurance policy.
If I understand correctly whole life is one of the vehicles to be able to put money away, grow it tax free, then draw the payments you made when you retire tax free with current tax laws.
Pros: He is a great source of info. Wants my best interest for retirement. Very nice guy.
Cons: They do ask for contacts. They will call twice per year to update info or try and sell more whole life. Just have to say no a lot especially in this economy.
^Correct. There are a ton of benefits that life insurance can provide.
I work for Allstate and have a life insurance specialist in office. He's low pressure and will just offer up options for you and see if anything makes sense. Let me know if you'd like to talk with him.
Zombie Steve
12-05-2013, 15:17
Local guy Steve Foltz does this for a living. Always shoots USPSA matches. Smart guy, gun guy... I'll PM his contact info over here in a second.
I used Primerica Financial Services. They offered a complete Financial Needs Analysis at no cost. When it was all said & done, I had several options to choose from at a fair cost to help me get to retirement. Of course, they will want you to come work with them, and I politely told them "No" and that was the end of it. I used their services and have been very pleased with the results thus far. My financial advisor contacts me a few times a year to check in and see if there is anything he can do for me. Again, I've been very pleased with them. My .02
gnihcraes
12-05-2013, 22:41
Chris Ravsten - Seems to know his stuff. Worked with him for 10+ years now. I'm no millionaire yet, but doing ok with his advice. He's already made his money off other m/billionaires, no pressure.
http://foxstonefinancial.com/new/foxstone/ (http://foxstonefinancial.com/new/foxstone/)
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