Finance subforum?

kcult

kcult

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It seems we are often times discussing finances, whether it's credit cards, interest rates, savings, investing, etc.

Is it time we have one spot for it where questions can be asked and opinions and resources can be offered up?

If so, I wouldn't mind seeing one behind the paywall just so maybe the discussions could be a bit freer (see what I did there?) if the poster wants to be more specific.

In related news, I met with my financial advisor this morning and boy do I have questions...
 
kcult said:
It seems we are often times discussing finances, whether it's credit cards, interest rates, savings, investing, etc.

Is it time we have one spot for it where questions can be asked and opinions and resources can be offered up?

If so, I wouldn't mind seeing one behind the paywall just so maybe the discussions could be a bit freer (see what I did there?) if the poster wants to be more specific.

In related news, I met with my financial advisor this morning and boy do I have questions...
Click to expand...
I talk to mine regularly, mostly because I disagree with his take that I have what I need to retire comfortably.
 
kcult said:
It seems we are often times discussing finances, whether it's credit cards, interest rates, savings, investing, etc.

Is it time we have one spot for it where questions can be asked and opinions and resources can be offered up?

If so, I wouldn't mind seeing one behind the paywall just so maybe the discussions could be a bit freer (see what I did there?) if the poster wants to be more specific.

In related news, I met with my financial advisor this morning and boy do I have questions...
Click to expand...
Also I vote yes for a finance sub forum behind the paywall of course.
Edited for clarity
 
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71Ragtop said:
Also I vote yes for a finance sub forum behind the paywall of course.
Edited for clarity
Click to expand...
seconded
It would help this youngster out a ton so I can figure out my strategy early enough to not be behind.
Plus I'm going to switch banks this fall and need to know who gives the best interest and keeps it easy enough to move money around.
 
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kcult said:
In related news, I met with my financial advisor this morning and boy do I have questions...
Click to expand...
I’ve suddenly come up with a ton more questions in the last 24 hours…😡
 
Carolinatlc said:
Don't leave us hanging, something going on?
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Something was announced (at work), but the actual impact/details aren’t very clear at the moment. Been on multiple conference calls the last few days still trying to sort it out.

I’ll share at some point, but not now.
 
Since you asked: no, no more sub forums. It reduces foot traffic.

Case in point: Mr. Catfish’s cheeky comment about purposely skipping the whole sub forum. We’ll never know his thoughts on Dave Ramsey’s advice if the threads hide behind another wall. But if they’re out here in the open/general forum, he just might take the bait once in a while and enlighten us!
 
9outof10mms said:
Since you asked: no, no more sub forums. It reduces foot traffic.

Case in point: Mr. Catfish’s cheeky comment about purposely skipping the whole sub forum. We’ll never know his thoughts on Dave Ramsey’s advice if the threads hide behind another wall. But if they’re out here in the open/general forum, he just might take the bait once in a while and enlighten us!
Click to expand...
Open forum, not for me.
 
kcult said:
I met with my financial advisor this morning and boy do I have questions...
Click to expand...
And.............................................I'm curious.......................why didn't you ask Him?????
Catfish said:
Oh God please yes so I can ignore all those threads at once.
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This^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^


I hope all Battery Oaks Alumni got a Valuable lesson in finance about 2 months ago....if you want Anything...Don't Wait..she didn't!!!
 
BatteryOaksBilly said:
And.............................................I'm curious.......................why didn't you ask him?
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He answered the ones I had for him during our hour and 15 minute conversation, but he said things that raised others. He also admitted to not being able to answer some questions and advised that I consult a lawyer.

That being said, I also enjoy sifting through the feedback that our members offer, no matter the subject.
 
kcult said:
He answered the ones I had for him during our hour and 15 minute conversation, but he said things that raised others. He also admitted to not being able to answer some questions and advised that I consult a lawyer.

That being said, I also enjoy sifting through the feedback that our members offer, no matter the subject.
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OK...here's some advice from a 75 year old man to all that are seeking help from aa financial advisor.......................................
ALWAYS demand that they give you a copy of Their portfolio...NEVER take advice from a man that has LESS money than You!!!!
 
BatteryOaksBilly said:
OK...here's some advice from a 75 year old man to all that are seeking help from aa financial advisor.......................................
ALWAYS demand that they give you a copy of Their portfolio...NEVER take advice from a man that has LESS money than You!!!!
Click to expand...

I'll try to get a picture of him when I ask for it. 🤣
 
BatteryOaksBilly said:
OK...here's some advice from a 75 year old man to all that are seeking help from aa financial advisor.......................................
ALWAYS demand that they give you a copy of Their portfolio...NEVER take advice from a man that has LESS money than You!!!!
Click to expand...

Old fella told me that decades ago. “Ask them their net worth and why you should trust them with your money. If they start giving you excuses, walk out.”

At some point I hope to have enough to hire an adviser. 😂
 
Honestly it’s a great idea. Putting it behind a firewall will give people a false sense of security. Just because someone pays the site 25 bucks doesn’t change a persons heart. Good scammers would just pay the money to get more info.
As for investment, next week I’m going to give the investment guy at my local SECU a decent amount for 6 months and let him run as invest it through the bank.
Just wanting to see if he can out do the guaranteed 4% on 6 month CD’s.
 
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Majicmike said:
Honestly it’s a great idea. Putting it behind a firewall will give people a false sense of security. Just because someone pays the site 25 bucks doesn’t change a persons heart. Good scammers would just pay the money to get more info.
As for investment, next week I’m going to give the investment guy at my local SECU a decent amount for 6 months and let him run as invest it through the bank.
Just wanting to see if he can out do the guaranteed 4% on 6 month CD’s.
Click to expand...

Please, tell me more.
 
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CD’s
T bills
Mutual funds
What’s a brother to do??
Thanks the info I’m looking for.
I’m still waiting to buy a retirement home but I’m investing for garunteed money until the real market crashes, it’s coming. Not like 08 but it’s coming.
 
Catfish said:
Oh God please yes so I can ignore all those threads at once.
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I just told the other staff in the back we need a place for @kcult ’s retirement thread to get lost and die in
 
Majicmike said:
Honestly it’s a great idea. Putting it behind a firewall will give people a false sense of security. Just because someone pays the site 25 bucks doesn’t change a persons heart. Good scammers would just pay the money to get more info.
As for investment, next week I’m going to give the investment guy at my local SECU a decent amount for 6 months and let him run as invest it through the bank.
Just wanting to see if he can out do the guaranteed 4% on 6 month CD’s.
Click to expand...
It shouldn’t be much of a challenge for him. 6 month T Bills are paying 5.34%. 🤓
 
kcult said:
It seems we are often times discussing finances, whether it's credit cards, interest rates, savings, investing, etc.

Is it time we have one spot for it where questions can be asked and opinions and resources can be offered up?

If so, I wouldn't mind seeing one behind the paywall just so maybe the discussions could be a bit freer (see what I did there?) if the poster wants to be more specific.

In related news, I met with my financial advisor this morning and boy do I have questions...
Click to expand...
You didn't tell him that you just bought a $60 lunch box, did you?
 
The idea that someone who knows how to invest and make money has to have more money than you do while on the surface seems obvious it is not.There are so many factors that come into play when it comes to one’s personal wealth. Just because you have a ton of money does not mean you are good with money. The inverse is also correct. Someone can understand how to make money but has not had the time to put the initial capital to work to accomplish the goal.

Someone does not have to be in retirement to explain how to grow and protect assets in retirement. Most of the time a good advisor is going to help you create a plan to accomplish your goals because the average person does not have knowledge of all the tools in the tool box. They do not know about all the options. This is why choosing the right advisor is important.The idea that only someone with a high net worth can give advice is a false narrative. It is contrary to many fields where one consults with an “expert”.

A good example is an auto mechanic for many people. When I take a BMW to the local BMW dealer or Indy shop the tech working on my car who I am relying on to fix and advise me on keeping the car running in optimal condition 99% of the time is not driving home in the same level of car. Yet he or she has more knowledge and tools to accomplish the task than I do. Is their expertise not valid because they don’t drive a M car? Medical Drs are the same. My heart surgeon does not have to have heart disease in order to treat my heart condition. Financial advisors are not different.
 
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hp468 said:
Old fella told me that decades ago. “Ask them their net worth and why you should trust them with your money. If they start giving you excuses, walk out.”

At some point I hope to have enough to hire an adviser. 😂
Click to expand...

If you want to get technical, he isn't hired yet. I can call or visit as much as I want and it's all free.

I won't be charged anything until they start managing any money I give them.
 
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