Gather around kids, Penny's last speech
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Wow, this has been fun and informative. Such a wide range of responses and I will cherish them all, always. This is it for me (I know, it’s bittersweet, you all have had fun with me, didn’t you?) Maybe I’ll come back 6 months from now just to stir things up again for you, and let you know how it works out for me. (I can hear all the “I don’t care”s, that’s okay, you don’t have to read my posts.)
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I want to end my experience here addressing a few points of concern for me. Some of you, mostly the ones that love to hate me, seem bent about my wanting advice for free. On the other hand, there were a number of super cool people here that have contacted me and gave me their advice, without making a big deal out of it. It’s not like I was asking anyone to put together a portfolio for me, JEEZ, Simmer down.
I’ve recently had a financial advisor over to discuss my situation, drove from <?:namespace prefix = st1 ns = "urn:schemas-microsoft-com:office:smarttags" />Houston to Austin at 7am and guess what? All he asked for was a glass of tea. (actually I offered it) So please accept my apologies if you were offended by my plea. (I suppose some of you may have been a little more professional had there been $$ involved. Next time I’ll have my credit card handy) At the time of my initial post, I wasn’t aware of the wide range of approaches and personalities there are to this profession. Learn something new every day, right? This was it for me yesterday, thank you.
I do want to thank the ones that approached me with the professionalism that I am accustomed to. I’m seriously considering contacting you all for a meeting to see if I can establish a relationship that will work for me. Again, THANKS. Your kindness has somewhat off set this other stuff that I’ve dealt with here.
Lastly, I’d like to address the comments made about me asking for advice then not liking what I heard. First of all, that’s my choice, I get to decide what I do and do not like. Secondly, It’s not WHAT was said, but rather HOW. It was the condescending approach that got me going. Go back and read some initial posts and you can see that I was given similar advice, but some were professional and respectful, and others….. well not so much.
Okay, that’s all Folks!
Good luck,
Penny
I also want to apologize for my mean comments I made here yesterday. No excuses really, other than I was pissed off. Believe it or not, I’m not mean or stupid.
No, I don't believe it Penny. And by the way, you don't pay investment advisors, money managers or brokers with a credit card. Now you fools on here that contacted her deserve what you get. Dumb and dumber have met.
Okay so penny is a lady.. Dont worry we all have women in our lives and we understand how their mood can change as quick as the market.
Funny story. Yesteday I was talking to Bush's number one guy for SE America. He had a team of young ladies promoting Kilgore in VA. Well when they lost I saw them come down and more or less about to cry. So I decided to say "hey, are you sad?" One was like "get the hell away from us." Well I then stated "I was a liberal and its only an election."
I was really just trying to make them laugh. After another one liner from the one I stated I liked BUSH and the republican party. After a minute I had them on my side. It was fun and I just tried to stress one will win and lose some. You did the best you can do so get ready for the next battle and enjoy life. Just used a bit of charm with the ladies and had em smiling!
Penny:
First of all it is entirely illegal to give investment advice to anyone over the internet. Which is why I haven't responded to your request for financial advice. You may not be in a state that I am licensed in which makes it illegal and then there is a little rule called know your customer. Alll I know about you is pixels on the screen. That being said. I also wouldn't want to pay 600$ a month unless I was getting some good advice on more than just investments.
I am serious about the information thieves. I can't tell you how many times I have met with prospects, spent hours of my time to prepare for a meeting, possibly even drove many miles to get to the location, as did the poor sap that you rewarded with a glass of tea, only to be told they don't want to pay me, don't want to be charged commissions. But they are mor than willing to take the information that I have given them and use it elsewhere. Excuuuuse me!!! My time is not free, the hard earned information that I have inside my head is not free. When you come on as "I don't want to pay anything", how can we not be pissed at you. Would you go the mechanic and ask him to fix your car for nothing?
There are several ways people can invest
1. You can pay as you go with commissions on each trade. If you don't trade very much and your portfolio is buy and hold you may save some money this way. But you aren't going to get a lot of attention from the broker. These types are constantly needing to make trades to keep their income up. We do have to eat and pay the rent you know.
2. You can pay a flat fee or an hourly fee. If you trade a lot you may come out better cost wise vs pay as you go. Plus the advisor has more vested interest in growing your portfolio as the next years % fee will be better for him. A steady stream of income allows the advisor to concentrate more attention on his existing clients and provide a much higher level of service.
3. You can buy investments on line. You are on your own and don't come askinng for free advice from #1 or #2
If you think that just buying stocks, bonds and mutual funds is all we do, you are wrong. A good advisor (usually category 2) will also be concerned about your estate planning needs, your long term care issues, funding your children or grandchildren's college, reducing your taxes, helping you manage your budget, advising you on debt control, insurance issues including property, health and life insurance and you as a person. You might get some of that from #1 and you will get none of that from #3.
You get what you pay for and respect is a two way street.
[quote=BankFC]
I bet Babbling Looney is a MILF...
Great Post!
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Penny would find that comment to be disrespectful....!
And yes, it was a great post!
[quote=babbling looney]
I am serious about the information thieves. I can't tell you how many times I have met with prospects, spent hours of my time to prepare for a meeting, possibly even drove many miles to get to the location, as did the poor sap that you rewarded with a glass of tea, only to be told they don't want to pay me, don't want to be charged commissions. But they are mor than willing to take the information that I have given them and use it elsewhere. Excuuuuse me!!! My time is not free, the hard earned information that I have inside my head is not free. When you come on as "I don't want to pay anything", how can we not be pissed at you. Would you go the mechanic and ask him to fix your car for nothing?
[/quote]
[quote=BankFC]
I bet Babbling Looney is a MILF...
[/quote]
LOL!!! Post of the year. Nice work BankFC.
[quote=BankFC]
I bet Babbling Looney is a MILF...
[/quote]
I'm guessing a cross between Cameron Diaz (attractive, fun and kind), and Lileth from cheers (intelligent & witty).....although?? she did have to google "MILF"
Wow! This is fun. Throw in a little Bonnie Raitt and you have it. I was a professional musician/singer for a while in my misspent youth
OH MY GAWD!!
You guys are starting to be bigger pains in the butt than I am. Okay, get your listening ears on and I'll talk real loud I AM NOT ASKING FOR YOU TO BE MY FINANCIAL ADVISOR FOR FREE. I AM NOT ASKING FOR ANYTHING THAT IS GOING TO REQUIRE YOU TO SPEND TIME RESEARCHING, DRAWING UP PAPERWORK, ANYTHING THAT WOULD REQUIRE ME TO GIVE YOU SPECIFICS ABOUT ME IN ORDER TO PROCEED. GET IT???? GET IT???? GET IT????
It's like calling the mechanic, telling him/her that my car is broke, here's what's going on with it. Can you suggest a place that specializes in this problem? How do I get there and how much will it cost. What do you think about me fixing it myself? So in the case here, it would be like the mechanic saying, "I'm not going to tell you that. You'll have to pay me! I've worked hard to know that information....etc etc etc etc etc. If the mechanic fixed my car because I thought he had a reasonable price, I would have no problem paying him. I am in the service industry too.
I'm only asking for direction.
Babs, you spent way too much of your precious time bitching about this whole pay thing and your expertise and how you don't like wasting your time (ironically) and then turn around and give me 1 2 and 3. 1 2 and 3 is all I'm asking for, and THANK YOU! All of you tearing me apart about this fee thing, have given me what I asked for. Sometimes not very nice, but none the less you have.
I have a feeling that commissions and such in your world are a very very sensitive subject and I poured gas on that fire. I gave you a reason to jump on your soap boxes and get all that stuff off your chests you've been carrying around. It's fun to get all worked up sometimes, isn't it? Maybe I should send you a bill for that. (Just kidding, please don't start again)
By the way, MILF comments don't offend me, I welcome them all the time too. I'll bet you guys have me pictured as a nasty old fat scank so it's easier to sling the mud.
Okay, bring on the next set of misinterpretations and insults.
Penny
No misinterpretation here. You're a moron. Plain and simple. You want to move 600k out of ML into Ameritrade? LOL!! Good luck!!
Even AFTER the "big" fees at Merrill you still will be making a much bigger return than you would at Investments'R'us.
Anyways, I have to be going. My doctor is charging me wayyyy too much so I've decided just to read a bunch of info on WebMD.com and make my own diagnosis. Hopefully this rash doesn't keep spreading...
Thank you sir, can I have another.
WHY, is it so difficult for you all to simply say, "You know,
that might not be such a good idea and here is why" I've already been called
enough F-ing names here about that I GET IT!- I've already been
informed here, over and over. If you need
someplace to let off steam, go kick your dog or something. And again, I
appreciate those of you who correspond in a respectful mannor.
YOU"RE A MORON and you SUCK at communication, you A$$HOLE!
You don't do anything but tarnish the reputation of your profession when
you act so UNPROFESSIONALLY.
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