zibazinski
Community Leader
Joined: Dec 24, 2010 16:12:50 GMT -5
Posts: 47,912
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Post by zibazinski on Aug 28, 2014 12:51:49 GMT -5
I don't have a conscience, hence, no guilt about anything!! Makes life easier!!
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HoneyBBQ
Junior Associate
Joined: Dec 27, 2010 10:36:09 GMT -5
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Post by HoneyBBQ on Aug 28, 2014 13:26:10 GMT -5
She isn't your friend. It is BUSINESS. You move on to other business. Don't take these kinds of things personally. ITA. It's money. It has nothing to do with friendship or emotions.
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HoneyBBQ
Junior Associate
Joined: Dec 27, 2010 10:36:09 GMT -5
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Post by HoneyBBQ on Aug 28, 2014 13:27:04 GMT -5
I must be missing some sort of gene because I've never had any issues taking my business elsewhere if I am unhappy and I don't feel a shred of guilt. Meanwhile DH agonizes and will stick with the crappiest people because he "feels bad" switching. Me too. Earn my business or get out of my face.
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HoneyBBQ
Junior Associate
Joined: Dec 27, 2010 10:36:09 GMT -5
Posts: 5,395
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Post by HoneyBBQ on Aug 28, 2014 13:28:41 GMT -5
Regarding what to do -- why not start with the 3 funds breakdown recommended by the B-heads and then adjust from there?
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myrrh
Established Member
Joined: Apr 12, 2011 22:55:14 GMT -5
Posts: 478
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Post by myrrh on Sept 17, 2014 10:23:26 GMT -5
Update: The 529s have officially been rolled over to the Utah plan. Yay!
I've been rather slacking off on figuring out DH's rollover IRA. But I have the stuff in the car, maybe I'll do that in addition to work today.
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Deleted
Joined: Oct 10, 2024 16:27:38 GMT -5
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Post by Deleted on Sept 17, 2014 10:42:48 GMT -5
Awesome your moving on, if any guilt sets in just think what is best for you and your family and the excess fees are definitely not.
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sesfw
Junior Associate
Today is the first day of the rest of my life
Joined: Dec 21, 2010 15:45:17 GMT -5
Posts: 6,268
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Post by sesfw on Sept 17, 2014 10:55:44 GMT -5
if any guilt sets in
Replace 'guilt' with 'regret'.
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Gardening Grandma
Senior Associate
Joined: Dec 20, 2010 13:39:46 GMT -5
Posts: 17,962
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Post by Gardening Grandma on Sept 17, 2014 17:14:33 GMT -5
Just after my DS1 was born, my grandfather gave me a very generous cash gift with the intent that it would be for a 529 (college expenses.) He also gave me a number for his financial advisor and told me that this financial firm had done very well for him. I called this person and he steered me into a plan under their firm. At the time we were trying to simplify our lives so DH rolled over several old 401k plans with this advisor as well. So I have to say thanks to Gardening Grandma and a few others who have repeatedly mentioned the Bogleheads forum. I've lurked there now for several months and have learned a LOT. And one of the things that I've learned is that through lack of knowledge/willingness to trust is that I got myself (529 plans) and my DH (IRAs and rollover IRAs) involved with a financial advisor that is terrible (as in, super high costs in exchange for a little bit of handholding.) So I need to explain to DH that this plan is one of the most costly out there and get out, probably moving to Vanguard or possibly our state 529 plan (still haven't decided yet.) When I figured this out I wanted to cry because my grandpa was doing something wonderful and I didn't realize that it came with something that was so awful. However the lady under this firm that we've been working with is actually pretty nice (I wonder if she realizes how bad the plans we have are, and how she justifies it to herself if she does?) and I am feeling guilty and don't want to have to explain that we don't need their services anymore. Help me deal with the guilt. When we start rollovers, do we have to talk to anyone? I just want to get out and not deal with the unhappy phone calls.You do not have to talk to anyone. I've been there. When DH retired in2008, we went to a financial planner. He was a nice guy and did help steer us through the transition without doing anything really stupid. But after a few years, I realized that we were paying unnecessary fees. This board (and the Bogleheads) helped me develop the confidence that I could DIY our fianances. This was now April, 2011. Step 1 was convincing DH. That was actually easy. I sat him down with a quarterly statement. I had highlighted the fees (which were very clear). I told him that we were paying financial guy that amount every quarter whether we saw him or not; whether he actually did anything or not and whether we gained or lost money. DH was pretty easy to convince... Step 2. I called Vanguard. They walked me through every step and they made it so easy. They contacted the old company who sent the funds over. I did not have to talk to the financial guy - at all. Step 3. Optional. I decided to email the financial guy. Basically I said, "thank you for steering us through a period of transition. At this point however we realize that we cannot afford the fees and have decided to move to Vanguard". I got a nice email back thanking us for our business and if we wanted to come back we were welcome anytime. Do it! You'll be glad you did. And please, please stop beating yourself up....
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myrrh
Established Member
Joined: Apr 12, 2011 22:55:14 GMT -5
Posts: 478
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Post by myrrh on Sept 19, 2014 13:16:46 GMT -5
ok dumb math question.
I am looking at five year returns for a bunch of funds. I understand they include expense ratios but do they include 12b-1 fees?
When calculating amounts given a starting investment (let's pretend five years ago it was $100,000) and a pretend five year return of 15%, the current total should be $174,900.60 right? (previous year * 1.15 four times)
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