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red_devil
Joined: 30 Jun 2008
Location: Korea
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 Posted: Tue Aug 31, 2010 12:07 am Post subject: Financial Planners |
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| Any recommendations on personal financial planners? I'd prefer companies rather than individuals. I bank with Shinhan do you think there's a benefit to just using their financial planners or will they milk you for commissions? |
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da_moler
Joined: 11 Nov 2006
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| Posted: Tue Aug 31, 2010 9:12 am Post subject: |
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| I'd like to know about this too. Does anyone know of any English speaking financial advisors? And does anyone have any experience of private pensions here? |
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pkang0202
Joined: 09 Mar 2007
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| Posted: Tue Aug 31, 2010 5:53 pm Post subject: |
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Number 1 advice is to diversify. First I would divide your investments into long term and short term.
For long term (you will take the money when you retire) you should just dump it into Mutual Funds, IRA's, and other retirement orientated plans. Pay into that every month. The more you pay now, the more you'll have later. Compounding interest is a thing of beauty.
For the short term, I would definitely get in touch with a broker and invest in various markets.
Do NOT trust brokers. Brokers are glorified cashiers who are only concerned with transactions. You either take it upon yourself to learn about various markets, or you find an ANALYST.
I would probably put about 35% of my money into Mutual Funds, 20% into ETF's, 10% into stock market, 10% into commodities, 10% into hedge funds, and 15% into various other low interest accounts (CD's, IRA's, Savings, etc...)
If you are making better than 5% return than you are sitting pretty. Anything less than 5%, then you need to change your investment strategy. I think 10% return is very doable. |
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Rothbard
Joined: 23 Aug 2010
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| Posted: Tue Aug 31, 2010 6:52 pm Post subject: |
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Anyone can be a financial adviser. Invest the money you would spend on paying them fees, into educating yourself.
Really if the guy who is selling you financial products isn't rich himself, then what is the point of employing him? Isn't that the point of financial advice? |
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pkang0202
Joined: 09 Mar 2007
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| Posted: Tue Aug 31, 2010 7:32 pm Post subject: |
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| Rothbard wrote: |
Anyone can be a financial adviser. Invest the money you would spend on paying them fees, into educating yourself.
Really if the guy who is selling you financial products isn't rich himself, then what is the point of employing him? Isn't that the point of financial advice? |
Anyone can be a financial advisor, the problem is not everyone has the time to keep up with everything. A full-time advisor spends their entire day studying the market, looking at trends, and being in the know.
Myself, I could be a financial advisor, but I don't have hundreds of thousands of dollars to invest in order to live off the money I make. Instead, I would sell my services in order to make money so that I can get to the point where I can sustain my living on investments. To say that any advisor who isn't rich shouldn't be trusted is a bit much. You need money to make money, and its hard for someone to make 6 digits straight outta college.
Financial advising is a service much like anything else. Instead of going through a Realtor to buy/sell a house, people could do it on my own. However, many people pay to go through a Realtor because it benefits them to do so. Its the same thing.
I believe, first and foremost, people should learn the basics about investments and trade. However, I don't think its practical for people to keep their day job, and at the same time try to stay on top of the latest happenings in the market. Find an analyst who is knowledgeable and has a proven track record. Find out their previous history. What kind of returns do they usually get? How much experience do they have? What is their specialty? More importantly, what's their Alpha?
A good analyst doesn't have to sell themselves like a used car salesman. Their work speaks for themselves. Usually the ones that like to tell you about get rich quick investments and too good to be true returns are the ones that don't know what they are talking about. |
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angelgirl
Joined: 28 Jan 2006
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| Posted: Wed Sep 01, 2010 1:32 am Post subject: |
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I am interested to learn about investing. I know that there are brokers for off-shore accounts but I wonder about using these as I think they may be unregulated. I have listened to these brokers but....
Suggestions for safe investing ? |
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mike in brasil
Joined: 09 Jun 2003
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| Posted: Wed Sep 01, 2010 4:34 am Post subject: |
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You can learn a ton from listening to the various technicians on
www.tfnn.com
Tom's been doing the show for about 14 years.
I find Basil Chapman to be the most spot on, although it takes a while to understand his method. |
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