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Anonymous
meeting my family's money manager 2016-12-20 01:40:14 Post No. 1678917
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meeting my family's money manager 2016-12-20 01:40:14 Post No. 1678917
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my mom set me up a meeting with him because i expressed my interest in handling my own money. he has mutal funds and other shit probably; i wish to put it in a vanguard account.
18, freshman in college, so i have limited knowledge. what questions should i look to ask him? should it be simple as looking at returns and fees?
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Ask him which penny stock to put all ur money in
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>2016
>Money mangwr for an 18 year old
>2016
>Having a money manager at all.
We're living in the golden age of DIY for every aspect of life.
Don't pay 5% commission fees to some retard that's going to just do what you can do yourself
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>>1678933
Humans are lazy anon. That's why consultancies thrive.
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>>1678933
/thread
My grandma keeps telling me i should talk to a professional about finances...
WTF im 26, have 3 rental propertys, an investment business that buys and sells debt go to school for business/econ/finance just for the fuck of it. Worth half a mill.. wtf is up with these older people that think only a professional can do things... umm hello... how the fuck did they start? they weren't born a professional they worked toward it.
Become your own finance expert OP there's plenty of sites, youtube chanels and books to get you the info you need.
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>>1678973
how to 500k net worth by 25
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>>1678917
Nice job!
I would suggest you ask if the manager has a fiduciary duty and what the total load is. Then I would buy a copy of "common sense investing by j. Bogle" for each elder in your family. If they actually take the time to read it they will be very comfortable letting you put your plan into action.
Don't be pushy and make sure you explain that with without a fiduciary duty he's only there to collect fees(assuming that is he case)
Good luck anon.
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>>1678973
>buying and selling debt
I'd love to hear more. Is this p2p lending?
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>>1679081
an actual response, thanks
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>>1678973
>buys and sells debt
Can you expand on this?
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>>1678973
>only a professional can do things... umm hello... how the fuck did they start? they weren't born a professional they worked toward it.
You just discovered the secret behind 100% of successful people.
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>>1679119
bonds and liens are debt you can trade
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>>1679066
keep all your money in yen pesos or rupees
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That money manager is likely ripping your family off by making money off of commissions by managing the money.
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>>1678933
>Implying you have time to be an expert in everything
>Implying that your time can't be worth more than the amount you pay to an expert
Found the retard
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