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Cafepharma Message Boards | Pharma Sales, Device Sales, Lab Sales
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Well, how much do you have in your 401K and how old are you?
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<p>[QUOTE="Anonymous, post: 3306722"]Per #13, if you can find a good financial planner/asset management advisor, then go for it. Here's my bias. The 1980's and 1990's created an entire class of "high net worth" individuals, i.e. those with at least $1,000,000 in investible assets. From this sprang an entire industry of "wealth management" advisors, many of whom were former brokers who took a weekend course in financial planning. It was clear that there was much more money to be made as a fee-based "wealth advisor" than commission-based broker. I just saw my dad write a $37,000 check to his asset manager and almost cried, since I could advise him just as well. My belief is that the need for an asset manager should be based not on you net worth but on the complexity of your financial situation. In my case, I have no dependents, no outstanding debts, no college 529, no real estate, no estate other than my liquid assets. For this I think I can manage my own assets. The new breed of wealth advisors want you cradle to grave, starting pre-natally with a college 529 plan up through doing your estate plan and everything in between. No thanks. I'll handle it myself.[/QUOTE]</p><p><br /></p>
[QUOTE="Anonymous, post: 3306722"]Per #13, if you can find a good financial planner/asset management advisor, then go for it. Here's my bias. The 1980's and 1990's created an entire class of "high net worth" individuals, i.e. those with at least $1,000,000 in investible assets. From this sprang an entire industry of "wealth management" advisors, many of whom were former brokers who took a weekend course in financial planning. It was clear that there was much more money to be made as a fee-based "wealth advisor" than commission-based broker. I just saw my dad write a $37,000 check to his asset manager and almost cried, since I could advise him just as well. My belief is that the need for an asset manager should be based not on you net worth but on the complexity of your financial situation. In my case, I have no dependents, no outstanding debts, no college 529, no real estate, no estate other than my liquid assets. For this I think I can manage my own assets. The new breed of wealth advisors want you cradle to grave, starting pre-natally with a college 529 plan up through doing your estate plan and everything in between. No thanks. I'll handle it myself.[/QUOTE]
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Cafepharma Message Boards | Pharma Sales, Device Sales, Lab Sales
Home
Forums
>
General Discussion
>
Industry Veterans
>
Well, how much do you have in your 401K and how old are you?
>
Cafepharma Message Boards | Pharma Sales, Device Sales, Lab Sales
Home
Forums
>
General Discussion
>
Industry Veterans
>
Well, how much do you have in your 401K and how old are you?
>