<p>We have money in different places. If some FA wanted to charge a % of our total assets we’d tell him to take a hike.</p>
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<p>That’s how I felt when we had a FA. The guy had a beautiful pie chart showing how well it’s doing. When we talked, he would shoot off the numbers supporting his claim. I had to ask him why I am not rich when it’s doing so well and we are not withdrawing any money.</p>
<p>I can not find that yacht thread on Bogleheads.org, BTW It is a little overwhelming and I don’t really get why people are asking questions about where to eat in San Francisco. Isn’t there a “Cafe” section on that site? 
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<p>@busdriver11, I hope you are scrutinizing your statements carefully. 18% ongoing is Bernie Madoff territory… you might not really know if your advisor has other clients, too. If he is giving you advice and you are making the trades on your account, then I wouldn’t worry. If not… I’d seek independent verification that you do indeed own the assets shown on your statement.</p>
<p>@LBowie, I was sort of kidding about the customers’ yacht question; it’s an old joke from way back. There is the equivalent of a Cafe section, sort of, but it’s more tightly moderated than CC. I suggest starting with the wiki. It is somewhat overwhelming, but (and there’s no way to prove it) I credit the Boglehead way with making a 500k difference in my life. I think it’s worth the effort. </p>
<p>After 25 pages talking about movies, we could ask where to eat? </p>
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<p>Giving advice which fund to invest and allocation is the core of what a FA does, isn’t it? I don’t use a FA but if I did, that’s what I would pay for.</p>
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<p>17 years of 18% returns turns $50k into almost $834k. Intparent gave you good advice busdriver11. Is this self-directed trading or are your assets under the direct control of this guy?</p>
<p>When people say 18% return over 17 years, do they mean 18 x 17 = 306% increase over 17years or 1.18^17 = 1600% increase?</p>
<p>@igloo, I think it is normally meant as 18% per year compounded. Einstein is reputed to have called compound interest the 8th wonder of the world. </p>
<p>That will be mathematically correct. But I had a feeling in finances, people simplify and don’t compound. I kind of look down upon finance people for that. They often quote 10% average annual gain leading to 100% gain in 10 years when in fact it should be 7%.</p>
<p>@igloo, I think that finance people only quote like that when they’re selling to civilians who they hope don’t know better. I have lived and worked around finance people for the past 30+ years, and that’s not how they talk amongst themselves :-)</p>
<p>Should you ever consider running for office, DadII, the vetting of finances could be uncomfortable. Oh yes, I know you weren’t born here, and likely wouldn’t run for office. Just sayin"…</p>
<p>That actually is a book:</p>
<p><a href=“http://www.amazon.com/gp/aw/d/0471770892?pc_redir=1400826774&robot_redir=1”>http://www.amazon.com/gp/aw/d/0471770892?pc_redir=1400826774&robot_redir=1</a></p>
<p>No, I have not read it but it sounds interesting. :)</p>
<p>“17 years of 18% returns turns $50k into almost $834k. Intparent gave you good advice busdriver11. Is this self-directed trading or are your assets under the direct control of this guy?”</p>
<p>I wish we’d given him 50K, but only less than 20K, unfortunately. It always cracks me up when people are suspicious, as he is the most honorable and low key guy ever. He was my husband’s long time best friend, the best man at our wedding. He was working as an engineer, and my husband kept telling him that he ought to invest in mutual funds. He started reading books, took an investment class at a community college, got obsessed with investing. </p>
<p>I got furloughed from my company, got a new job and realized that they’d put about $14,900 into a 401K for me. Thought about cashing it in, because we needed the money, but decided to roll it over to an IRA and let his friend manage it. Later on we gave him 4K of my husband’s Roth, and converted mine to a Roth. I think our account has done particularly well, better than his other clients, because of a few things. Our first year return was 70%, easy with such a small amount of money. He managed to have a lot in cash during times when the market went down, and about three years ago we told him we wanted to be fully invested, forget the cash. I think we are his only fully invested clients.</p>
<p>He doesn’t brag about his return, I do, because I’m amazed and very proud of him. Every time I compliment him, he downplays it, saying the market could crash and our stocks could plummet…it’s high now, but you never know, etc. He was asked to manage a hedge fund but he refused. Doesn’t want to move and doesn’t like driving in traffic, likes his peaceful life more than the money. Has turned down new clients for years, as he doesn’t want more paperwork, and he’s doing fine right now. I was dismayed that he turned down my son as a client! He spends many hours a day researching stocks, there is nothing easy about his job. And yes, we can follow every single thing he does on TD Ameritrade, client/advisor account. I would trust him with my life.</p>
<p>yes, fortunately I am in a profession that lends itself nicely to part time. That is how I am going to “ease” into retirement. My dh is currently doing this. He loves it. It’s just enough.</p>
<p>@busdriver11, that’s good news. As you probably surmise, I indented no disrespect of the fellow, and I’m pleased that he has done so well for you.</p>
<p>Oh, I know you didn’t @IxnayBob. I realize the generalities of it all seem suspicious, but the specifics make far more sense. We have done so many stupid things with our money, I am thrilled that this one thing has worked out well.</p>
<p>Ah, many of us have done many stupid things with our money. Just imagine how much we’d have now if we hadn’t been so stupid. Or, perhaps, better to not imagine it.</p>
<p>Those of you who employ people to do/clean your yard, home, pool…</p>
<p>will you continue to do so when you retire?</p>
<p>Yard work, yes. Hose cleaning, no.</p>