She works for a large investment firm and they only take clients who invest at least $500k. She does this for family and close friends and she waves all non mandatory fees (which is minimal) Yes, I know I am very fortunate.
She has us all invested similar but slightly different. Some stocks she has us in are microsoft, apple, tesla, and an energy fund which I forget the name of. She also has some of the money in mutual funds. All capital gains taxes are deferred until we withdrawal money which will not be within the next 7 years at the earliest. As far as 401 protected, I'll be honest, I don't know exactly what that means. This is something I have only been involved with for a couple of years. When we are together I ask questions sometimes but since it's her living and she's been doing it for close to 30 years, she uses a lot of terminologies I have heard but don't quite understand what they are.
jrider those questions were more directed to Nitrodave sorry They’re basically two types of retirement accounts. Taxes paid and taxes still owed the only funds I can understand being down last 2 years would be bond funds.. Which no individual should be in since 2007 when the interest went to zero
There are 401k, standard Ira, a couple Roth IRA, and then some general stock accounts. Without looking up percentages of stocks vs.. mutual funds .. I don’t know… that’s why we hired a professional. I have a meeting with them next week…. And it’s not a small amount of money that we are dealing with.
Well I’m glad it’s not a small amount of money you’re talking about; because at 53 with inflation being what it is that’s actually a good thing. I don’t want to say anything bad about your investor because it’s extremely possible, even probable, that he thought after a 20% return in 2000. That the market might go down and not up in 2021. So he was protecting against that. Which should mean that from January to now you’re up 15%. But he what she/he needs to do Is the develop a trust level with his clients
I am not sure if I am honored to say that I am well into this group, Or insulted that you don’t think I am…
The last bunch of "national socialists" did not have a good ending. Your favorite does meet the definition of a "national socialist".
Last year, I earned almost 4%. Last three years, almost 12%. Last month, not so good; only took 31 days to lose 6%!
As well as the new border policy...... as well as the new energy policy..... as well as the inflation is good policy..... as well as the "do as I say, not as I do" policy.....
