Quote:
Originally posted by AKA_Monet
Hey Rudey!
I just rolled over a Symetra 401K plan that my job dropped 'cuz of I dunno, and a USAA TSA that wasn't making any money into a Traditional Met Life IRA account...
Then, I just opened a new Met Life Roth IRA, where I will contribute $100 per month upto $4000 per tax year...
My financial advisor works for Met Life--how much will he be getting off the top?
Also, he wants me to up my ante with a Met Life Insurance Policy VUL... Says the cash in value benefit and the death benefits are good... I have to have a physical for it... It is to complement my husband's State Farm Whole Life policy... Do you think that is wise to get in to right now? I have booty Phoenix Wealth Management Flexible Variable Life Annunity... But, it tain't much...
Lemme know what you think?
|
Monet, in all honesty I don't recommend brokers or financial planners to people. SmartBlondeGPhB I hope you don't take offense to that. I truly believe people are smart enough to make their own decisions and unless you truly have a vast fortune that needs daily tending to, it doesn't make sense to even pay 1% to anyone. Plus a lot of info out there is biased where fund pay brokers and whatnot. But that is just me and that is what I do and that's that.
Again, the thing I have seen recommended often is diversification. You can buy into 10 oil funds if you wanted as opposed to putting it all into 1. The other thing others recommend is staying away from funds and investing (not trading) yourself since managers can skim a couple percentage points off the top. I have heard some folks swear by exchange traded funds with great, stable active managers and I think fool.com ranks those funds if that's what you wanted. I personally never thought insurance fit my needs and people at those insurance brokers will sell you everything and anything and act like it's an investment. After all that's how they get their money.
-Rudey