I need a finance "guy"

[jagee]

...or "gal"

I'm not good at finance stuff. I keep an eye on my checking/savings accounts, but that's about it. I have a 401k through work, life insurance, etc, etc. but don't understand all that mumbo jumbo. I also just filed my taxes using TurboTax as I've done in the past...but don't really want to continue to do that.

I need someone I can drop all my tax documents off to and just have them handle it. If I want to buy stock in Ruger (because the Mini 14 is going to be the go-to when AR's get banned ) then I just call my "guy" and he handles it for me.

So, INGO, any suggestions on where to find my "guy"?

(and don't say Craigslist...I already tried and got some unsolicited selfies. )

 

[1911ly]

You might talk to your insurance agent. Some of them handle financial things like that.

 

[Itchytriggerfinger]

You know how there are things you'll do with your girlfriend but not your wife? This is one of those situations. I don't want my tax guy playing in the market and I don't want my market guy messing with my taxes.

 

[Wolfhound]

I have a guy. He doesn't charge much. He lives in a van down by the river.

 

[Leadeye]

You know how there are things you'll do with your girlfriend but not your wife? This is one of those situations. I don't want my tax guy playing in the market and I don't want my market guy messing with my taxes.

I do it this way, have one place that does my taxes and another that does my investments. I've earned well over my long life so far, but like you, I've never been good at that stuff.

 

[jagee]

You know how there are things you'll do with your girlfriend but not your wife? This is one of those situations. I don't want my tax guy playing in the market and I don't want my market guy messing with my taxes.

I do it this way, have one place that does my taxes and another that does my investments. I've earned well over my long life so far, but like you, I've never been good at that stuff.

So now I need 2 guys?

Any suggestions?

 

[Leadeye]

Hanafee and Jones in Indy have done my taxes for 40 years, ain't cheap, but no complaints. For investments, I would look to Ed Jones.

 

[chezuki]

I’ll do it!*











*Disclaimer: I have **** credit and make garbage financial decisions.

 

[jagee]

Hanafee and Jones in Indy have done my taxes for 40 years, ain't cheap, but no complaints. For investments, I would look to Ed Jones.

Thanks!

 

[jagee]

I’ll do it!*











*Disclaimer: I have **** credit and make garbage financial decisions.

Do you have any references?

 

[chezuki]

Do you have any references?

I have many, but you’re too young to get most of them.

 

[Itchytriggerfinger]

So now I need 2 guys?

Any suggestions?

It really depends on your worth. 90% of the people are fine with Morgan Stanley or Merrill Lynch. No matter who you choose make sure you tell them to load up on Growth Fund of America (AGTHX).

If you need more than most, start interviewing wealth management firms because what fits one, doesn't necessarily fit all.

Taxes are a sore subject with me because if it weren't for the girls in the office, I'd do my own and I'm convinced he knows that I'm not the only one so he keeps hiring them younger and bustier than the year before. They've simplified tax returns to the point where any moron with a smart phone can do them in about 20 minutes.

 

[MontereyC6]

Depending on how much money you have invested or you want to invest, check with your bank. Most banks have people that strictly have investor's.

 

[amboy49]

Re: your taxes, ask a friend or your banker who they might recommend - but make sure they have the credentials. You mentioned you have been using Turbo Tax which would indicate your tax situation isn’t terribly complicated. Finding a tax guy shouldn’t be extremely difficult.

The investment guy is another scenario. A true investment advisor is just that, someone who will be an advisor. That person will ask about your full financial picture, your appetite for risk, and especially what your long range retirement goals are. The worst kind of investment “advisor” will churn your investments so he can maximize his fees and commissions. It’s been easy to do well in the market in the last 7-8 years. Before that it was much more volatile. Some “experts” are predicting doom and disaster is coming soon(er) than later. Said long enough, all predictions come true over time.

In your discussions in finding an investment advisor, ask what they charge. I’d be willing to wager more than most don’t know what they are paying. The annualized per centage of fees does get smaller based on the relative total dollar amount of your investments with the firm - or at least it should. Don’t be afraid to ask how fees are charged ! Good luck with finding both.

Remember, save as much as possible as early as possible in your working life. The sooner you start the more quickly it adds up. Look up the “rule of 72”

 

[CampingJosh]

It really depends on your worth. 90% of the people are fine with Morgan Stanley or Merrill Lynch. No matter who you choose make sure you tell them to load up on Growth Fund of America (AGTHX).

If you are going to tell the advisor what to load up on, you're better off just being your own advisor. Why pay for advice if you've already made up your mind?

Also, why do you like that fund? That's a big front load (5.75%).

 

[Itchytriggerfinger]

If you are going to tell the advisor what to load up on, you're better off just being your own advisor. Why pay for advice if you've already made up your mind?

Also, why do you like that fund? That's a big front load (5.75%).

I prefer to pay up front and I've never paid 5.75%. I started on that fund in 2002 so if you look at it's history, it's easy to see why I like it.

 

[Captaincrunk]

TD Ameritrade for buying/selling stocks for fun, Vanguard IRA for actual long term investing. Do your own taxes, it's once a year and not that hard. Even easier next year since they got rid of like every way to save money.

 

[spec4]

Take the time to learn how personal finance works. Most investment firms, banks, etc. will charge you 1% per year of your assets, some more, some less. If you have say $1 million for retirement, that's $10K a year and that's before you make money. Since I retired I figure I've saved over $100K by doing it on my own. Also, there are on line tax services that will do your taxes for free if your adjusted gross is low enough. I think the threshold this year was around $57K. They charge for state returns, around $15.

 

[amboy49]

Take the time to learn how personal finance works. Most investment firms, banks, etc. will charge you 1% per year of your assets, some more, some less. If you have say $1 million for retirement, that's $10K a year and that's before you make money. Since I retired I figure I've saved over $100K by doing it on my own. Also, there are on line tax services that will do your taxes for free if your adjusted gross is low enough. I think the threshold this year was around $57K. They charge for state returns, around $15.

If anyone is being charged $10,000 on a $1,000,000 portfolio they’re getting screwed. Let’s just I know someone’s who has substantially more than that in invested funds and is paying their investment firm considerably less.

 

[spec4]

If anyone is being charged $10,000 on a $1,000,000 portfolio they’re getting screwed. Let’s just I know someone’s who has substantially more than that in invested funds and is paying their investment firm considerably less.

Well, I can tell you I've heard of 1.5% from an outfit that was on the radio a lot. I have a friend who pays Wells Fargo .75% and he has a ton there. The bank I worked at offered me .90%, I said no thanks.