Friday finances

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iVillage Member
Registered: 10-23-2001
Friday finances
572
Fri, 03-22-2013 - 6:55am

So I heard a lot of chanting at school yesterday about tomorrow (today) being pay day, Woot!  Ha, That doesn't mean a lot to me but some of those teachers make good money and b/w that and the slip ins about money in a couple threads here I thought a thread would be fun..

How often are you/your DH paid

Do you discuss finances with your children?  To what extent?

Are you a spender or a saver

 

 

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iVillage Member
Registered: 12-07-2003
Sat, 03-23-2013 - 9:12pm

cruisingchick20111 wrote:
Ok, gotcha Geschichtgal. It is not that hard, my father did it for many, many years (with no background in that field).

I thought you said you used lifecycle funds.

iVillage Member
Registered: 10-10-2011
Sat, 03-23-2013 - 9:10pm
Ok, gotcha Geschichtgal. It is not that hard, my father did it for many, many years (with no background in that field).
iVillage Member
Registered: 10-10-2011
Sat, 03-23-2013 - 9:07pm
Please show me where I called you a name, Regina.
iVillage Member
Registered: 12-07-2003
Sat, 03-23-2013 - 9:07pm

cruisingchick20111 wrote:
Can't you see where your money is being invested Geschichtsgal? Can't you change it at any time? If I decided it was not working for me and I researched the investments, I could change it on any given day. I wouldn't need someone to do that for me. Why pay someone? My father never paid anyone until they were up to retirement age when they did hire a financial advisor to make sure they were doing everything right. They were and unfortunately all my father's research and time doing so through the years did not pan out for him as he passed away before he retired. My mom's CPA is great and she has told her everything she should do and she actually brings home MORE money now being retired than working. It was a win, win situation.

I can see where everything is invested and I can change it at any time.  I'm not naive enough to think that I have as much financial know-how as a certified financial planner or financial advisor.  I could probably learn, if I wanted to spend the time.

iVillage Member
Registered: 10-10-2011
Sat, 03-23-2013 - 9:02pm
Can't you see where your money is being invested Geschichtsgal? Can't you change it at any time? If I decided it was not working for me and I researched the investments, I could change it on any given day. I wouldn't need someone to do that for me. Why pay someone? My father never paid anyone until they were up to retirement age when they did hire a financial advisor to make sure they were doing everything right. They were and unfortunately all my father's research and time doing so through the years did not pan out for him as he passed away before he retired. My mom's CPA is great and she has told her everything she should do and she actually brings home MORE money now being retired than working. It was a win, win situation.
iVillage Member
Registered: 10-10-2011
Sat, 03-23-2013 - 8:59pm
I believe you need to do research too Chest if you are unsure but right now, I totally trust the investments they have chosen for me. They know more than I and it is not something that is thrown together. I know it changes from time to time too with age so it is not always the same investments. I can easily see what my account is so if I was extremely concerned (which I probably won't be until close to retirement age) I could see what is being invested and I can change at any time.
iVillage Member
Registered: 12-07-2003
Sat, 03-23-2013 - 8:58pm

Working with someone at a retirement investment company is different from picking a lifecycle fund, which is also different from hiring an independent financial advisor (or certified financial planner).

iVillage Member
Registered: 05-13-2009
Sat, 03-23-2013 - 8:53pm
Believe it or not, it's just reading the financial news every day and working with a really trusted broker (my husband's childhood friend who was interested in building his wealth (win-win for us both), not commissions from our trades). We did not always follow his advice, but most of it was spot on. I've done well in buying gold that he was against.
iVillage Member
Registered: 10-10-2011
Sat, 03-23-2013 - 8:52pm
Hmm...ok. You don't feel that the company that you use is able to do that? That they are qualified enough to figure out where the funds show go at every age? Why pay someone to do the same thing?
iVillage Member
Registered: 12-07-2003
Sat, 03-23-2013 - 8:45pm

cruisingchick20111 wrote:
Hmmm... So when will you take it over then geschichtgal?

I have no idea.  Sometime after I decide that I want to learn enough about investments to make better decisions or until I decide to hire someone to manage it for me?  

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