BillsFanNC Posted May 17, 2012 Share Posted May 17, 2012 Many people run to svf and bond funds when the market turns to guard their money after it's taken a bit of a loss. The only thing that does is locks in the hit. Yes, trying to time the market is an extremely bad idea. I work with guys that are shuffling money in and out of funds in their 401k's almost daily. I have given up trying to talk sense to them. Link to comment Share on other sites More sharing options...
Chef Jim Posted May 17, 2012 Share Posted May 17, 2012 So I really don't know why I would need a financial advisor. Are you paying too much it taxes? Is your trust properly funded? Do you have a trust? Are the beneficiaries of your trust set up right. How many sucessor trustees do you have on your trust and are they still the ones you want? Are the beneficiaries of your retirement accounts set up right? Are your contingent beneficiaries set up right? How much of your income at retirement is taxable? How much insurance do you need? How much insurance do you have? Will your insurance pay out if you have a terminal, critical or chronic illness and if so how much? Do you have long term care? Do you need long term care? Who will take care of your family or your financial needs if you become disabled? Who will make financial and health decisions for you if you're unable to? I think it's funny that people think all financial advisors do are investments. Link to comment Share on other sites More sharing options...
HopsGuy Posted May 17, 2012 Share Posted May 17, 2012 I think it's funny that people think all financial advisors do are investments. If you have any savings (any!) and you have people/family in your life you care about, you should probably employ a financial advisor/planner. Having said that, your first question should be, "Are you a fiduciary?". If the answer is anything other than a resounding affirmative, run away - you are talking to a sales person. Link to comment Share on other sites More sharing options...
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