Community Chat

[BLH]

My husband was at the bank one day and the teller asked him if we have a financial advisor and he said, "yes, my wife".

[FrostyBabe1]

I largely self manage. I spent my career in finance and institutional investing and am confident in my ability to handle it myself. I do have some rather complicated issues though, and do use both an advisor and accountant to help navigate those. 

[jlkz]

considering using some type of portfolio manager(s) with a designated amount and certain performance measurements....

Main concern:  memory loss / dementia of self and/ or DH .

[Gooday]

We pretty much have managed our own investments for years.  My brother told me in the early 80's, if you buy Money Magazine, can read a chart, you can manage your money and he was pretty much on point.  Of course, there are exceptions.

We would purchase CD's when the interest rates were terrific.  We picked Money Markets after reading which companies had funds that were performing well.

When we reached a certain age and NOTHING was gaining interest, we looked into annuities.

All that being said, we do have an accountant that does our taxes and he knows our financial history.  When we have questions, we call him for advice.

Oh, when DH worked he put the max deduction into his IRA. 

[Financialgrl]

Both, I get a small pension direct deposited into my checking account each month which I take care and monitor.  Bc I knew it wouldn't be enough as I age, 20 years ago I set up an account with a financial planner and I let them manage that. 

Recently set it up for me to be able to take an income stream. Just began a new mortgage and a planner is expensive but I file a Schedule A and can write both the mortgage interest and investment fees off taxes each year.  

[BirkiLady]

Financial planner/team and a great tax advisor. Have had both for over 35 years. Before that, had another team, but did our own taxes. My husband had a PhD in statistics. As things became more complicated, he even decided it wasn't worth the headaches! Now that I'm alone, it's such a relief knowing everything is taken care of for me by people who know our history. So glad I didn't have to find someone on my own.

[Kalli]

Dh handles almost all of our investments.  

I do have a small amount from my retirement package that's with a traditional financial planner and that guy doesn't really have to do much since it's in a low risk situation.  I hope to never touch it so it can go toward nursing care. My mom is fully into dementia and my dad has mild cognitive impairment now. They did everything right (diet, exercise, stayed physically and mentally active) so if it can happen to them it can happen to anyone. 

[Evie2004]

We have certified a financial planner. He & his partner have taken very good care of us in the last 11 years..we do pay them a % to manage our 3 accounts, which is well worth it. We see them 2-3 times a year for a review.

[pommom]

Financial advisor with much more experience and knowledge than I.  She was quite reasonable.