Posted by Logan Shaw on March 7, 2007, 12:19 am
John Weiss wrote:
>> There's no real need to pay someone for that sort of advice, there are
>> plenty
>> of perfectly adequate books that spell that out for a hell of a lot lower
>> cost.
>
> NONE of those books can sort through the plethora of current investment
> options and give sound, target advice based on the specifics of a single
> personal situation. In fact, you can't even come up with a single title
> that will even approach that level.
>
> Also, since the OP already has a full-time job, he may not have the time to
> do the amount of research required.
That's a good point. Time is particularly important here. Why? Because
when you have $1.5 million to invest, if you decide to buy some books and
spend 6 months going from investing novice to competent, smart investor,
and if you leave the money in an investment that learns, say, 2% lower
than you could've gotten otherwise while you spend those 6 months learning,
you've just lost out on
1.5 * 10^6 * 6/12 * 2/100 dollars
= $15,000
If you spend $5,000 to hire a professional financial planner to tell you
what to do with the money during your learning period, and if they can
get you 2% better earnings (with all other things, like risk and taxes,
being equivalent) than you would've figured out on your own initially,
you've just made $10,000 on the deal.
- Logan
Posted by Rod Speed on March 7, 2007, 1:39 am
> John Weiss wrote
>>> There's no real need to pay someone for that sort of advice, there are plenty
>>> of perfectly adequate books that spell that out for a hell of a lot lower
cost.
>> NONE of those books can sort through the plethora of current
>> investment options and give sound, target advice based on the
>> specifics of a single personal situation. In fact, you can't even
>> come up with a single title that will even approach that level.
>> Also, since the OP already has a full-time job, he may not have the time to
do the amount of
>> research required.
> That's a good point.
Nope, not when the OP has stated that
>>>> I asked this question because I wanted to see if I had missed anything when
I made my
>>>> calculations.
There's no point in spending thousands on 'a one-time analysis'
when all he wants to know is whether it makes sense to pay
cash for the $500K house he is considering buying.
> Time is particularly important here.
No it isnt with the only question the OP asked, whether it makes
sense to pay cash for the $500K house he is considering buying.
He actually saved time by asking here instead of pissing
thousands against the wall on 'a one-time analysis'
> Why? Because when you have $1.5 million to invest, if you decide to buy some
books and spend 6
> months going from investing novice to competent, smart investor,
Mindlessly silly number you have plucked out of your arse, as usual.
<reams of completely irrelevant shit that has no relevance
what so ever to the OP's question, flushed where it belongs>
He didnt ask what to do with the inheritance.
You dont even know that he doesnt understand what makes sense already.
Posted by Steve on March 6, 2007, 10:03 am
>> And plenty of worthless financial planners...
>Yep, what I said in the quoting you snipped.
Oops, see, if I could just bring myself to read your whole posts, it
would save us sooo much trouble. :)
--
The mind of a bigot is like the pupil of the eye.
The more light you shine on it, the more it will contract.
...Oliver Wendell Holmes Jr.
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>> plenty
>> of perfectly adequate books that spell that out for a hell of a lot lower
>> cost.
>
> NONE of those books can sort through the plethora of current investment
> options and give sound, target advice based on the specifics of a single
> personal situation. In fact, you can't even come up with a single title
> that will even approach that level.
>
> Also, since the OP already has a full-time job, he may not have the time to
> do the amount of research required.