Had a meeting last night with my financial advisor. He has been with me
for 3 years now and has done a good job teaching me about markets and
the like. He has been managing my retirement and so far this year has
gotten me 17% return. I recommend an advisor to everyone. They can even
help people manage debts and the like. My philosophy is to pay off debts
in big chunks and put what you would pay extra monthly in a savings or
something, that way you always have more cash on hand. Did you know you
shouldn't base your retirement on just one vehicle like a 401K. How
about adding an IRA or a post tax life policy that will give you the
ability to borrow against it while you are alive. Or did you know that
money market accounts can be almost just like a savings account except
you earn a higher rate of interest and the money is not locked like a CD
but you have to watch the fees. That is the kind of stuff we all can
use. He also talks about getting a will in place just in case something
happens. He always brings up the story of Joe Robby vs. Sam Walton. How
Joe Robbie's kids had to mortgage the Dolphins to pay his estate fees
and how Sam Walton made his kids rich because he planned for it. Granted
I kind of zone out when he talks about wills just because I have no
kids, wife etc.. I also wonder at the timing of our meetings. The market
is near 12000 right now so of course all my investments are doing well.
Anyways, it is good to get your house in order every now and then just
be a "good steward". Just some advise from someone who was advised. By
the way, who came up with the word moolah?

Thought of the Day

"It's not good for friends to talk about money, it can affect the
friendship."
"I tell you how much I make."
"And I'm always impressed."
- Jerry and Kramer, in "The Cadillac"

// posted by Brian @ 10/18/2006 01:20:00 PM