My grandparents set up a wealth management account with a financial advisor when I was born and put $2000 into a stock. Now I'm 22 and it's grown to like $20,000. I got on the phone with the financial advisor for the first time the other day and she's definitely a boomer lol. She got mad when I asked if some of the money could be invested into some crypto coins.
So I guess I'm gonna reinvest some of the money into other stocks, and in theory I'd let her invest some of it too. But what's she really gonna do? Help me make big money, or invest it into some anonymous boomer indexes that give her kickbacks to do so and don't do shit for me? She takes out $150 per year for herself anyway.
Am I losing a great opportunity by terminating the account? Is there a benefit to having your "wealth", bonds, funds, stocks, etc. managed in one place? Am I underestimating this middle American boomer at a mediocre bank's capabilities? Why the fuck does this shit even exist?
>Why the fuck does this shit exist? Because 40+ years ago allot of dumb people trusted people who claimed to be smarter than them to hold their money. Fast forward to present day where dumb people are going to start retiring at around the same time.
Oliver Cruz
this post deserved trips
Sebastian Howard
What is wrong with the advice that you got when you made this thread yesterday?
Landon Sanders
You just have to call them and say HEY IT"S MY FUCKING MONEY YOU FUCKING CUNT WHAT THE FUCK ARE YOU GETTING MAD AT ME FOR YOU MOTHER FUCKERS and then yeah just withdraw your money and do whatever the fuck you want with it. I'm high as fuck though so don't listen to my advice.
Joshua Hughes
>where dumb people are going to start retiring at around the same time. So that's how this industry is kept afloat. It's really that simple?
Are there any tax loopholes I'm gonna skip through keeping this? Should I only hold on to it if I find the trading fees to be less than any other broker/platform?
Chase Ramirez
It died, plus I've done some more reading XD. You should lurk less tho
Grayson Wood
If you're only dealing with 20k, do the investing yourself.
nigga just put that shit into a s&P 500index fund and call it a day if you think you know it all.
you really need to learn more about investing in general before you stupidly turn 20 grand into 2 grand in shitcoins.
all this boomer hate when boomers MADE money and 99% of the shitcoin "investors" have lost money overall.
thinking you don't need a good investment guy in your corner is retarded. if you spend a little time and money you'll beat the s&p.
David Murphy
Bro. Call her back. Tell her to STFU. Take your FUCKING MONEY back. Literally do anything else with it.
Robert Rodriguez
She was taking out 150 a year in fees from a $2000 account. At 10% average returns (abnormally high for passive boomer investing) he's making $200 but she's taking $150 so his returns after fees are more like 2.5% at least until compounding interest really starts outpacing the fixed costs of advising after several years.
Just call her and tell her to liquidate. Invest the money yourself like a big boi. These boomers generally are more salesman than financial experts. Good people skills, shitty math and critical thinking.
Buy some crypto with like 10% of the funds at least and if you want to keep some money in boomerbucks diversify the rest of your holdings between several ETF's that expose you to different markets. S&P 500, bonds, real estate, commodities, emerging markets, etc just don't be surprised if in 2020-2022 your crypto holdings become the entirety of your portfolio.
bad finanial advice. he would literally do better throwing it all into the s&p
Xavier Gray
what's wrong with bonds?
Nathan Ross
also >putting more than 10% into this ponzi
Lucas James
>thinking you don't need a good investment guy in your corner is retarded The entire licensed investment industry is pretty much designed for groupthink. If you aren't advising what everyone else is advising, you are creating a huge liability if you're even just early on a call and can lose your whole business.
There was a part in the big short after Christian Bale executed his bet on the housing collapse, and all his clients started trying to pull their money out. He was able to prevent them from doing so bc of some kind of contractual details but in most circumstances going against the grain gets you in trouble with clients or regulatory bodies. Better to just run with the rest of the herd off the cliff with your clients money because it's safer to be in the 95% making a wrong call than the 5% who are right.
Do not outsource your education and critical thinking.
If you want CHAD strategies: >The Nassim >10% speculative shitcoins or Volatility ETF >90% Treasury Securities >mostly market neutral but with potential for retarded upside from positive or negative black swans respectively
>Deluded Markets Hypothesis >Long the 10 most actively shorted stocks >Short the 10 most actively longed stocks >market neutral, dab on retards who still think markets are efficient and that fundamentals matter
Thats a little over 11% compounded over 22 years. Honestly pretty good and a smart investment by thoughtful grandparents. This kind of comment is exactly why we will continue to bleed in a crypto bear market, enough of you haven't felt enough pain yet.
Oliver James
>now I'm 22
Don't touch the money you stupid faggot, get a job and invest with that.
Evan Carter
>trusted people who claimed to be smarter than them to hold their money. to be fair he wanted to put the money in crypto
Ryder Ramirez
>Deluded Markets Hypothesis >Long the 10 most actively shorted stocks >Short the 10 most actively longed stocks Im doing this
Juan Roberts
>thinking you don't need a good investment guy in your corner is retarded
Thing is I have to call her every time I invest or sell, and with the way the market changes by the hour you're right; something like the S&P that wont crash is pretty much the only thing I can personally invest in with her
Joshua Cook
>something like the S&P that wont crash is pretty grow some balls and put it into QLD
Liam Green
Yeah I was gonna only do like 10% in crypto. Was gonna probably put some in (O), but wanna research some other Reits, maybe even mReits first. Then probably a Vanguard ETF tho no idea which to go for. Then with other individual stocks it's just inefficient to have to call everytime I trade.
I've heard some guys (in their 40s) swear by finding a rockstar advisor to invest your money and actually make you big bucks. All those people who have advisors at JP Morgan or even N M Rothschild in England aren't unhappy I suppose. My boomer is just with RBC tho.
What platform or broker do you use to save the most? Thanks for the detailed posts
Nathan Collins
>RBC they're not gonna appreciate crypto i know that
