Gyroscopic Investing

http://www.csmonitor.com/Business/2012/ ... Loan-rates

For the record, I got a perfect score. My bet is most PPer's will score very high.

"what does IPO stand for?"
It’s Probably Overpriced

lmao

Not sure what my actual score was, but my rating was FINANCIAL WHIZ. I also suspect that most PP'ers will get similar results. My experience has been that joining this forum and setting up a PP has been like grabbing hold of a moving train to financial-experience-ville. I've learned more in two months than I did in two years of college econ courses and three years of private study and personal money management.

Pointedstick wrote: Not sure what my actual score was, but my rating was FINANCIAL WHIZ. I also suspect that most PP'ers will get similar results. My experience has been that joining this forum and setting up a PP has been like grabbing hold of a moving train to financial-experience-ville. I've learned more in two months than I did in two years of college econ courses and three years of private study and personal money management.

I have also learned more on this site and Craig's Crawling Road site than I have in my entire investment life.  Several years ago I even believed that my financial planner had my best interest at heart.  He would invite me to investment seminars sponsered by GE, Met Life, etc.  I understood very little of what they were talking about.  I just trusted him to put me in the best investments.  After the market downturn of 2008 and when I started a self education program, I realized that this was not always the case.  It seems that my investments were in programs that carried a high commision.  At that point I fired him and have since managed my own investments.  After struggling to find my way, I finally discovered these sites a couple of years ago and have since moved most of my investments into the PP.

The PP has been a great find for my investment portfolio but the most important thing is the peace of mind and complacency it has given me towards the markets and my investment life.

Alanw wrote: Several years ago I even believed that my financial planner had my best interest at heart.  He would invite me to investment seminars sponsered by GE, Met Life, etc.  I understood very little of what they were talking about.  I just trusted him to put me in the best investments.  After the market downturn of 2008 and when I started a self education program, I realized that this was not always the case.  It seems that my investments were in programs that carried a high commision.  At that point I fired him and have since managed my own investments.

Isn't it disturbing how so many financial planners and high-expense funds seem to prey on financially illiterate people?

Before she married me, my wife had a financial planner managing her IRA investments. When I reviewed her investments, I discovered that the guy had put her money exclusively in ridiculously high-expense funds. I think the stock fund had an expense ratio above 2.5%. Unbelievable.

Tortoise wrote: Isn't it disturbing how so many financial planners and high-expense funds seem to prey on financially illiterate people?

Before she married me, my wife had a financial planner managing her IRA investments. When I reviewed her investments, I discovered that the guy had put her money exclusively in ridiculously high-expense funds. I think the stock fund had an expense ratio above 2.5%. Unbelievable.

It could have been worse. The first mutual funds I was advised to buy by a financial adviser (Smith Barney) were funds from Putnam that you had to pay to get into and pay to get out of - not to even mention the yearly expense fees. By the time I finally learned what the terms "load" and "no-load" meant she was long gone and I had to cut my losses to get out of those funds.

Never again, I said.