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I have thought for a while that most of the financial advisers are just middlemen on the stock market, getting a small amount of my money by trading for me. If
by Latteland 8y ago
I have thought for a while that most of the financial advisers are just middlemen on the stock market, getting a small amount of my money by trading for me. If I just buy index funds I'll do fine. My financial adviser who charges me at 0.75% management fee didn't protect me from huge losses in 2008 and 2009. I don't necessarily blame her, but she was not really different than buying an index fund or a managed year retirement fund.
- jypepin 8y agoExactly. The Little Book of Common Sense Investing is a very nice read on that matter.
- bootsz 8y ago"A Random Walk Down Wall Street" is another good one. Doesn't take much reading/investigation to figure out how bad of a deal most investment "management" services are, at least for the average person. It's not too unlike a casino: in the long run the house always wins. You're not the house.
- jypepin 8y agoIndeed. It's in my kindle and will get to reading it asap!