I recently inherited 200k and its portfolio that looks like it has returned around 6% over the last 10 years. US BANK manages the money for 1%. It has not lost any money in recent down turn so far. Is this pretty much the norm 10 grand on 200k per year? I personally feel this is a ripoff along with inflation and all. I'd buy 200,000$ worth of ammo if I didnt think I would blow myself up (at least it is gaining 30-40% a year). Can I really expect to do any better over the years than 5% ?
Thanks for your time
0
To remove first post, remove entire topic.
I recently inherited 200k and its portfolio that looks like it has returned around 6% over the last 10 years. US BANK manages the money for 1%. It has not lost any money in recent down turn so far. Is this pretty much the norm 10 grand on 200k per year? I personally feel this is a ripoff along with inflation and all. I'd buy 200,000$ worth of ammo if I didnt think I would blow myself up (at least it is gaining 30-40% a year). Can I really expect to do any better over the years than 5% ?
Is this a bond/fixed account that's not too bad. Before you gauge whether this is good or not I would think about where this fits into your overall financial situation. Do you need income now; do you need to save for retirement etc... In any event if you need income I would look at First Trust Income it will pay you over 1% per month and overtime the principal should start to go up. If you're looking for longterm growth w/ bigger gains then start looking at stocks there are plenty of people here that can help you out.
0
Is this a bond/fixed account that's not too bad. Before you gauge whether this is good or not I would think about where this fits into your overall financial situation. Do you need income now; do you need to save for retirement etc... In any event if you need income I would look at First Trust Income it will pay you over 1% per month and overtime the principal should start to go up. If you're looking for longterm growth w/ bigger gains then start looking at stocks there are plenty of people here that can help you out.
Thanks guys No I dont need the income just growth. I have no debt so theres nothing to pay off. Advisors ask what do you want -- well I want to make a freakin decent return no matter what my age or situation is. They say a decent return is 7-8 % over time.
I say you gotta be shittin me. Hate these guys more than refs I think. Is having this investment double every 5 years (15%) unreasonable ?? I would love to have you all help me because its freakin me out.
0
Thanks guys No I dont need the income just growth. I have no debt so theres nothing to pay off. Advisors ask what do you want -- well I want to make a freakin decent return no matter what my age or situation is. They say a decent return is 7-8 % over time.
I say you gotta be shittin me. Hate these guys more than refs I think. Is having this investment double every 5 years (15%) unreasonable ?? I would love to have you all help me because its freakin me out.
Get it out of those greedy suckers hands. Who knows if they put you in some garbage where they get kickbacks on top of the 1% (firms often get cuts for selling certain products, more of an incentive)
Transfer it to a place like Fidelity or Scottrade and the money can earn a MM rate while you park it.
If all they have done is 6% over the last 10 yrs, they should not be in business period.
I love that phrase "what do you want it to be in" so they can charge you a fat commssion on whatever it is, plus any exit fees and blah blah blah fees..
If you are young and can handle the swings I can tell you many more places that can outperform 6%.
Hell a stock like GE is dividending 4% right here and is on sale longer term at 33 a share. A more scary but more upside stock in a bear environment might be MO who has a fat divi and possible upside.
Even a bank like Lehman or MER (decent divi) are interesting..or you could put it in a banking ETF and know that longer term the banks will be around, a good symbol is KBE, yielding 6% and possible 10-20-30% upside longer term.
Plenty of ways to beat a 6% yield..you could always toss it in a stock like FSLR and hold on tight.
0
Want my opinion?
Get it out of those greedy suckers hands. Who knows if they put you in some garbage where they get kickbacks on top of the 1% (firms often get cuts for selling certain products, more of an incentive)
Transfer it to a place like Fidelity or Scottrade and the money can earn a MM rate while you park it.
If all they have done is 6% over the last 10 yrs, they should not be in business period.
I love that phrase "what do you want it to be in" so they can charge you a fat commssion on whatever it is, plus any exit fees and blah blah blah fees..
If you are young and can handle the swings I can tell you many more places that can outperform 6%.
Hell a stock like GE is dividending 4% right here and is on sale longer term at 33 a share. A more scary but more upside stock in a bear environment might be MO who has a fat divi and possible upside.
Even a bank like Lehman or MER (decent divi) are interesting..or you could put it in a banking ETF and know that longer term the banks will be around, a good symbol is KBE, yielding 6% and possible 10-20-30% upside longer term.
Plenty of ways to beat a 6% yield..you could always toss it in a stock like FSLR and hold on tight.
If you inherited the account outright then it is yours to do with as you please and you have no responsibility to stay with these "advisers". Get it out of there and do it on your own. Or get your own adviser to set something up. No need to pay an annual fee.
0
If you inherited the account outright then it is yours to do with as you please and you have no responsibility to stay with these "advisers". Get it out of there and do it on your own. Or get your own adviser to set something up. No need to pay an annual fee.
The cash is in Frst American Treas Oblig Cl Y 1.74%
I can break down the others if you like but it makes me want to puke just looking at it. Not even 5%
Can I ask what type of returns you guys get on your investments in stocks bonds money market mutual funds ect.? I am just a pup in this game trying to find a bone.
0
Thanks guys for the advice
My statement as of 3/31/08 reads as follows:
asset summary
cash/mm 118,000 est ann. inc 2,068
taxable bonds 54,000 est ann inc 3,380
stocks 40,674 est ann inc 613.00
Fees and exp. 519.00 ( 1st qrt. )
The cash is in Frst American Treas Oblig Cl Y 1.74%
I can break down the others if you like but it makes me want to puke just looking at it. Not even 5%
Can I ask what type of returns you guys get on your investments in stocks bonds money market mutual funds ect.? I am just a pup in this game trying to find a bone.
I love that, they are making 2k off you doing absolutely NOTHING.
I would transfer that already..no way are they deserving of the same return you are making from the MM.
You can find better returns if you wanted to have it managed, or you could leave it in a money market and you would fare better. You could even invest it in a stupid CD and fare better after the fees they are charging you.
That allocation looks like something needed for a 80 yr old retiree.
0
1iron,
I love that, they are making 2k off you doing absolutely NOTHING.
I would transfer that already..no way are they deserving of the same return you are making from the MM.
You can find better returns if you wanted to have it managed, or you could leave it in a money market and you would fare better. You could even invest it in a stupid CD and fare better after the fees they are charging you.
That allocation looks like something needed for a 80 yr old retiree.
"That allocation looks like something needed for a 80 yr old retiree."
Who do you think he likely inherited it from???? It's his duty to himself to ask the questions and move it into more appropraite investments if necessary.
0
"That allocation looks like something needed for a 80 yr old retiree."
Who do you think he likely inherited it from???? It's his duty to himself to ask the questions and move it into more appropraite investments if necessary.
I see someone is upset that you lost more monopoly money on POZN huh?
That allocation is a joke even for an 80 yr old person wanting zero risk..it is terrible, not even keeping up with a traditional money market after fees. An absolute disgrace.
If you subtract out the 2k plus in fees from the example above, what exactly have they been doing to benefit the guy?
The point is that US Bank was a joke and I would move that money tomorrow.
What is your point?
0
I see someone is upset that you lost more monopoly money on POZN huh?
That allocation is a joke even for an 80 yr old person wanting zero risk..it is terrible, not even keeping up with a traditional money market after fees. An absolute disgrace.
If you subtract out the 2k plus in fees from the example above, what exactly have they been doing to benefit the guy?
The point is that US Bank was a joke and I would move that money tomorrow.
But like Wall said, sheesh, get that dough outta that fee structure ASAP...absurd!!!! Talk about easy money...
I always shoot for 20% return on overall investments. That is a goal, not an expectation, and especially not is you are new to all of this.Be very conservative at first and limit risk until you have a thorough understanding of things.Be prepared to read your ass off, paper trade, and backtest.GL.
But no way you should continue to remain where you are with this set up.
0
Simma down now, simma down!!!
But like Wall said, sheesh, get that dough outta that fee structure ASAP...absurd!!!! Talk about easy money...
I always shoot for 20% return on overall investments. That is a goal, not an expectation, and especially not is you are new to all of this.Be very conservative at first and limit risk until you have a thorough understanding of things.Be prepared to read your ass off, paper trade, and backtest.GL.
But no way you should continue to remain where you are with this set up.
It was stupid for MSFT to buy Yahoo..I thought it was a bad deal all around, yahoo is a has-been and not worth 31 per share. It is a mature slowing company and deserves to be in the teens again..
Sorry for getting testy there, acc seems to be upset ever since I mentioned that POZN wouldnt get to 20, cannot see any other reason for him to try and bash my comment. The comment wasnt about the age of the guy, I dont care if he was 100 yrs old, that was robbery US Bank was doing..flat out robbery.
0
Vermeer,
It was stupid for MSFT to buy Yahoo..I thought it was a bad deal all around, yahoo is a has-been and not worth 31 per share. It is a mature slowing company and deserves to be in the teens again..
Sorry for getting testy there, acc seems to be upset ever since I mentioned that POZN wouldnt get to 20, cannot see any other reason for him to try and bash my comment. The comment wasnt about the age of the guy, I dont care if he was 100 yrs old, that was robbery US Bank was doing..flat out robbery.
Oh I agree bro and was just kidding around...and I too thought the price MSFT was willing to pay for Yahoo was too much (I suppose Yahoo thinks Alibaba is going to really turn them around, and who knows they might)...
What really gets me is the legalized theft in essence of old people's money by banks...they really take advantage of people.But I suppose what else is new?
Anyway, I have always enjoyed handling my own stuff, and I personally am very happy that there are more opportunities for self direction for all of us.They still can get away with murder, but one does have a lot of options when it comes to preventing the lousy deals such as 1 Iron's situation...just removing those fees will be an immediate improvement of return.
0
Oh I agree bro and was just kidding around...and I too thought the price MSFT was willing to pay for Yahoo was too much (I suppose Yahoo thinks Alibaba is going to really turn them around, and who knows they might)...
What really gets me is the legalized theft in essence of old people's money by banks...they really take advantage of people.But I suppose what else is new?
Anyway, I have always enjoyed handling my own stuff, and I personally am very happy that there are more opportunities for self direction for all of us.They still can get away with murder, but one does have a lot of options when it comes to preventing the lousy deals such as 1 Iron's situation...just removing those fees will be an immediate improvement of return.
If you choose to make use of any information on this website including online sports betting services from any websites that may be featured on
this website, we strongly recommend that you carefully check your local laws before doing so.It is your sole responsibility to understand your local laws and observe them strictly.Covers does not provide
any advice or guidance as to the legality of online sports betting or other online gambling activities within your jurisdiction and you are responsible for complying with laws that are applicable to you in
your relevant locality.Covers disclaims all liability associated with your use of this website and use of any information contained on it.As a condition of using this website, you agree to hold the owner
of this website harmless from any claims arising from your use of any services on any third party website that may be featured by Covers.
Hot Forum Topics
