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Started By
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Older MTers or retired folks, anyone use Simon and Simon in downtown Covington?
Posted on 4/16/23 at 9:12 am
Posted on 4/16/23 at 9:12 am
Looking at them for managing retirement accounts.
Tia
Tia
This post was edited on 4/16/23 at 9:15 pm
2
Posted on 4/16/23 at 9:46 am to GREENHEAD22
No
Why are you trying to have your father switch his management companies? Is your father not capable to make his on decisions?
Why are you trying to have your father switch his management companies? Is your father not capable to make his on decisions?
Posted on 4/16/23 at 7:53 pm to GREENHEAD22
management of what?? his home rentals? his storage rentals? His stock portfolio?
Posted on 4/16/23 at 9:11 pm to Fat Bastard
His retirement account and yes he is looking to make a change.
Posted on 4/17/23 at 4:47 am to GREENHEAD22
Tell him to put his money in t-bills and don’t let anyone “manage” his account. None of the managers beat the S&P index funds over time. If he wants stock exposure just buy the index funds like Vanguard.
Posted on 4/17/23 at 7:23 am to I B Freeman
quote:
Tell him to put his money in t-bills and don’t let anyone “manage” his account. None of the managers beat the S&P index funds over time. If he wants stock exposure just buy the index funds like Vanguard.
, “ just buy short term bonds your self. Or buy index funds.” And then what?
Posted on 4/17/23 at 8:40 am to slackster
What do you mean "then what"?
It's not complicated.
It's not complicated.
Posted on 4/17/23 at 9:32 am to I B Freeman
quote:
It's not complicated.
How do you know how complicated it is?
Buy bonds and, maybe, ETFs, is a partial solution to a problem you don’t even know exists.
Posted on 4/17/23 at 10:42 am to slackster
My favorite are the posters who just chime in to mention how simple it is and not have anything relative to add to answer the OP's question. How self-important.
Like I just did.
Like I just did.
Posted on 4/17/23 at 6:22 pm to UpstairsComputer
I don't have anything to add, but I did watch the Magnum P.I. crossover episode with Rick and A.J. last night. You know, the guys from Simon and Simon.
Posted on 4/17/23 at 6:31 pm to slackster
At the end of the day Simon and Simon sell funds and/or charge fees for investing.
All you and I know from the OP is that he is considering paying Simon and Simon to invest his money. Very few “advisors” year end and year out beat the S&P index even in years when the returns on the index are negative.
It is simple to buy t-bills that are paying around 5% now and are free from Louisiana income tax and have no institutional failure risk.
There is no reason to over think this.
Buffet on the issue
All you and I know from the OP is that he is considering paying Simon and Simon to invest his money. Very few “advisors” year end and year out beat the S&P index even in years when the returns on the index are negative.
It is simple to buy t-bills that are paying around 5% now and are free from Louisiana income tax and have no institutional failure risk.
There is no reason to over think this.
Buffet on the issue
quote:
Legendary investor Warren Buffett calls investing a "simple game" that financial advisors have convinced the public is harder than it really is. Speaking at Saturday's Berkshire Hathaway annual shareholders meeting, Buffett slammed Wall Street financial advisors for "catching the crumbs that fall off the table of capitalism" and said that in most cases, "monkeys" could provide better investment returns simply by throwing money at American companies. "You can have monkeys throwing darts at the page, and, you know, take away the management fees and everything, I'll bet on the monkeys [over the advisors]," he said. If they told everybody what a simple game [investing] was, 90% of the income of the people that were speaking would.
Buffett pointed out how since 1941, the Dow Jones Industrial Average has increased from $100 to more than $30,000, and said that most people need only put their money into "an American business" and let it grow. "It's amazing how hard people make what is a simple game," Buffett said of advisors. "But of course, if they told everybody what a simple game it was, 90% of the income of the people that were speaking would disappear."
Buffett has long recommended that investors put their money in low-cost index funds, which hold every stock in an index, making them automatically diversified. The S&P 500, for example, includes big-name companies like Apple, Coca-Cola and Amazon. Buffett previously told CNBC that for people looking to build their retirement savings, diversified index funds make "the most sense practically all of the time."
Posted on 4/17/23 at 9:40 pm to I B Freeman
So you think because buffet has a totally unrelated quote that he said off the cuff in an interview 20 years ago, it’s a great idea to tell a guy, who is helping another guy, who doesn’t feel comfortable enough to do his own thing in retirement, to buy a long only 100% stock portfolio into the teeth of what could possibly become one of the worst markets in a generation? Neat. Glad you’ve got it all figured out. #ballsdeep #nohedge
Posted on 4/17/23 at 10:04 pm to UpstairsComputer
I said t bills and index funds.
You recommending something more complicated? You got a financial advisor that will do better?
I don’t understand what you people recommend. There are literally thousands of people calling themselves financial advisors but at the end of the day they are fund salesmen.
Now you think the greatest investor in history is full of crap. Twisted logic
You recommending something more complicated? You got a financial advisor that will do better?
I don’t understand what you people recommend. There are literally thousands of people calling themselves financial advisors but at the end of the day they are fund salesmen.
Now you think the greatest investor in history is full of crap. Twisted logic
This post was edited on 4/17/23 at 10:06 pm
Posted on 4/18/23 at 5:58 am to I B Freeman
quote:
At the end of the day Simon and Simon sell funds and/or charge fees for investing. All you and I know from the OP is that he is considering paying Simon and Simon to invest his money. Very few “advisors” year end and year out beat the S&P index even in years when the returns on the index are negative.
Financial advisors are not worth it if all you need is asset allocation, but hopefully they’re bringing more than that to the table.
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