$10,000 to in Invest. Where should I start?

[TLR Is Mental Poison]

How familiar are you & how investments work? If you aren't too familiar, then I'd suggest you'd sit down with an adviser.

When you sit down with one, make sure they have YOUR best interests in hand. If they do more talking than listening, then yes, be a lil suspect. If you tell them what you're looking for, they give some suggestions & you feel comfortable with it, then it's more likely you have somebody who has your best interest in mind.

Financial advisers give themselves a bad name when looking for the highest commission or fees. The referrals are more powerful than one client & one fee. You do great for a client, they will refer you. Now, there will be times you may lose some money, that's the risk you have to take with investing. Just make sure you ask the financial adviser what they did for their clients during the Great Recession.

I am pretty familiar, which is why it is overwhelming.

I don't think body language is a great way to rate a financial advisor. They can be for my best interests and still suck.

 

[Marciano]

I am pretty familiar, which is why it is overwhelming.

I don't think body language is a great way to rate a financial advisor. They can be for my best interests and still suck.

I didn't say body language lol, I said if they do more talking than listening. Since you're pretty familiar, you should be able to weed out who will be good & who won't be.

Of course the better ones will be more expensive as far as fees go

 

[rastafarwrite81]

Eh this analogy is kind of weak. Doctors get sued if they kill or hurt people. You can lose money from a financial advisor's advice and he would say "o well shyt happens"

what a financial advisor does is provide a roadmap to get to a financial destination. Now if you decide to deviate from that roadmap, your at fault.

Now if an advisor does something that results in loses and it ios determined that he/she violated their fidiciary duty, then a client can file a written formal complaint with Finra or the broker dealer that the FA is associated with. Typically in these situations the client almost always gets their loses back.


You have NO IDEA how much power a client has in this industry. Every rule and regulation is in place to protect the client

 

[TLR Is Mental Poison]

I didn't say body language lol, I said if they do more talking than listening. Since you're pretty familiar, you should be able to weed out who will be good & who won't be.

Of course the better ones will be more expensive as far as fees go

I just dont buy any of this

what a financial advisor does is provide a roadmap to get to a financial destination. Now if you decide to deviate from that roadmap, your at fault.

Now if an advisor does something that results in loses and it ios determined that he/she violated their fidiciary duty, then a client can file a written formal complaint with Finra or the broker dealer that the FA is associated with. Typically in these situations the client almost always gets their loses back.


You have NO IDEA how much power a client has in this industry. Every rule and regulation is in place to protect the client

So does a financial advisor direct clients to specific indexes and shyt or do they just give vague advice? And does one stick with a financial advisor for life? How does it work?

Because what Im getting at is vague advice is kind of useless; but very specific advice can be wrong which would kill the whole point of getting a financial advisor.

 

[Gallo]

Good shyt bruh

Yeah from everything I've been reading so far it seems like EFTs > Mutual Funds so that may be the way to go right now. I'm also going to look into investing in Gold as well. But I'ma do some research on those EFTs you provided..

Here is some material you might find interesting:

If You Can’t Beat ‘em, Join ‘em - Investing in Low-Cost Index Funds

And I would give you this advice, something to remember, risk is commensurate with return. If you want higher returns, you need to take more risk (higher probability of variation in expected return). If you want less risk, you are going to get lower returns.

This year my parents are up 64% on their investments. But, they could just as easily be in the hole for that amount or more if things didn't go their way. If anyone ever tells you they can give you high returns with little or no risk, walk away - FAST! A family member recounted a story about years when he started working for a large company, one of the retirement options offered in their 401k was a "guaranteed high return" investment with an insurance company. Within a year, the insurance company offering that investment went bankrupt. The employees who took that option didn't even get all of their investment back and it took them years to get a portion of their original investment back.

 

[Gallo]

I just dont buy any of this



So does a financial advisor direct clients to specific indexes and shyt or do they just give vague advice? And does one stick with a financial advisor for life? How does it work?

Because what Im getting at is vague advice is kind of useless; but very specific advice can be wrong which would kill the whole point of getting a financial advisor.

Unless you have a complicated tax issue, I'm not an advocate of financial advisors, especially advisors that are selling a product. And never give your money to an advisor. Only give your money to institutions that have federal insurance (FDIC, SIPC, etc.).

 

[88m3]

I just dont buy any of this



So does a financial advisor direct clients to specific indexes and shyt or do they just give vague advice? And does one stick with a financial advisor for life? How does it work?

Because what Im getting at is vague advice is kind of useless; but very specific advice can be wrong which would kill the whole point of getting a financial advisor.

They give you a number of options and data. Show you options that you may be interested and help you figure out a risk that's appropriate for you.

My suggestion is find a large investment bank with a good history and advisor with experience.

I've had a handful of advisors mostly do to mergers though and two retirements.

The other thing with getting an advisor you get a ridiculous amount of information you can go through yourself using their websites.

It can also give you access to loans at good rates.

The cost of having an advisor is also minimal.

 

[blackzeus]

If you only got $10K, and that's all you got, buy a hard asset like a house in the hood and rent it out, or buy some sh*t to flip or distribute like cars from the auction.

 

[nomoreneveragain]

$LNET