Answers and Guides from Top Financial Advisors

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I prefer to see clients face to face as well but that does not mean they have to live in the same town or state. The important thing is finding an advisor who you are comfortable with and have confidence in that they are looking out for your best interest. ...(more)
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Tunc Tanin Level 7
I prefer clients that I can see face to face at least once. I am not a big fan of giving investment advice to someone that I never met in person. I dont feel I could judge how they will feel when the market dropped 30 percent a year twice in a row. I ...(more)
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Joseph Gissy Level 10
Nothing can really beat the face to face interaction that a client can have with an advisor. However, as mentioned above you do not have to be local or even in the same state for that matter to have a financial advisor or to even have face to face meetings. ...(more)
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Paul, In addition to what David mentions above, your hope for 8-10% per year may be somewhat aggressive. Remember that there is always a trade off between risk and return when investing. More risk = more potential return. You can certainly aim for ...(more)
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Matthew, Last item I would suggest along with the advice you have received is when you speak to the custodian ask them to begin sending you your quarterly statements in the mail. Some vendors have gotten away from doing this over the past few years and ...(more)
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Hi John, As John Essigman pointed out above, commodities producers often "hedge" their production proceeds by purchasing futures contracts. As you imply, they often lock in the price of their crops via futures contracts. Thus, if the market price of ...(more)
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Hi Ofelia, In addition to what Layton mentioned above, some people opt to borrow from their 401k balances rather than take withdrawals. Most advisors will recommend this as a very last resort though, for several reasons: 1) You don't pay taxes on your ...(more)
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Peter C. Karp Level 20
Amy First of all, I always recommend that taking a loan from your 401(k) plan should be only as a last resort. This is money for your retirement and grows over time, tax deferred at a compounded rate and is funded through pre-tax dollars. You need to ...(more)
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Jess, Great idea to start early. You have received very good advice so far and I just wanted to piggy back on something you have already heard. Because of your profession you will be heavily solicited. I really like the idea of someone in your position ...(more)
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John Essigman Level 13
Hi Hondrea, Very sorry to hear about your divorce… I know that this is a painful time for you and wishing you and your family a speedy recovery. You are not clear if the 401(k) belongs to you or your former husband. In either case, call the custodian ...(more)
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Very good question. Depending on your account balance the custodian, such as Fidelity, may have automatically rolled your money into an IRA. You would have received something in the mail telling you this if they have a correct mailing address. If this ...(more)
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Hi Vivian, If your question has yet to be answered, perhaps this can help. Many different companies provide their own indices/benchmarks that follow different asset classes (stocks, bonds, commodities, etc.). Although I don't know what benchmark data ...(more)
1 vote
Penny stocks are stocks that trade under $5 per share, per the SEC's definition. However, most people think of these stocks as under $1.00. Regardless, they pose serious investment risks as they are very volatile and illiquid investments. Watch out. The ...(more)
1 vote
Tunc Tanin Level 7
In my practice, if I met you the first recommendation would be to get a a good disability insurance coverage. I am a RIA so I have a fiduciary responsibility and based on what you are saying I really should talk you out of opening a ROTH IRA first and ...(more)
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You have gotten some good, and very specific, advice already. There are only a few things I would add from personal experience. Years ago a resident at a local teaching hospital contacted me to help with his wife’s modest IRA, something I was happy ...(more)
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