Investment guys...need help

interesting flex to say you dont think for yourself or listen to other perspectives, but hey, you do you.

As someone that’s worked in financial services for 23 years in various roles including an independent consultant, captive advisor, RIA, and a fiduciary, I can tell you, there is a disproportionate number of unqualified people in this business. And, I can also tell you, the less money you make the more scumbags are willing to fuck you over. It takes a really shitty investment product to make any money off of a $1,000 annual investment and no one wants to work for free.

So OP, it’s on you to do your research before handing your money over to an advisor. Ask and look for as many persoctives as possible.

Not if they’re a fiduciary.

The fiduciary rule is a joke. Anyone with any experience can advise around the rules in their benefit.

If stocks buy energy, maybe coal but that’s a risky one

Not all of them. I wouldn’t even say most There are some very good ones out there. But there’s a reason it’s such a heavily regulated industry. There are lots of brilliant scumbags in it.

oil is a solid pick during inflation. especially, since, you know, we are slowing production.

Businesses associated within the industry, all that jazz should be up long term. Too many people

its been consolidating, especially in the Dakotas.

another random youtube video. should totally not watch this guy talk about anything.

#1 advice. Don’t listen to folk that tell you the stock market is too high. This is said every year regardless of where it is. This fueled by the youtubers who make money for views for the fools that will listen to their fearmongering. These folk usually don’t have much skin in the game and ain’t real longterm investors.

If you’re investing a portion of your paycheck every week or month, then It doesn’t matter if the market goes up or down short term. The cost will average out long term.

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strange how i posted videos with guys that arn’t youtubers speaking on channels they dont control. fuckin weird correlation to watching a video and critiquing it before watching it.

All I can tell you is my guy is great. I’ve known him for close to 12 years. At 51, I never have to work another day. The only “work” I do is teach BJJ and I would do that for free. I can’t imagine trying to do it myself, getting handfuls of advice here and there-- from god knows who-- asking on internet forums, etc. Find someone you trust and can vett.

The stock market is about to go through some shit. Banks will go out of biddness. What will survive is hard to predict but long term stuff that people need should be ok to invest in and if you lose than fuck it because you don’t invest something you are not prepared to lose. Don’t leverage in the stock market when you’re just starting out. Give it a cycle at least, how they say? Get ya dick wet. And seriously if you can afford a mortgage you do it

Hook him up with the digits there my man. Stop hogging the golden goose. Help a brother out

I wouldn’t disagree with that at all. It’s the #1 most important thing to find in an advisor. And as I mentioned, there are tons of great advisors out there.

I didn’t mention it above, but I’ve also worked as a wholesaler of investment products, essentially an investment company rep going out and meeting with advisors to get them to sell my product. I can say with authority, there are tons of unethical people out there willing to sell whatever they need to to make money. And when the fiduciary rule comes into play to hold someone accountable, there are just so many reasons/ excuses to sell against your clients best interest. But all advisors use it as a selling point, “hey, I’m a fiduciary, I’m ethically and legally obligated to put your interests aheahld of mine”. But the rules just don’t have a lot of teeth. There are infinite ways to explain away bad advice.

Just keep a few things in mind when you’re getting advice.

1). You shouldn’t have to ask how an advisor gets paid. It should be one of the first things you talk about and they should be the one to bring it up. No one wants to work for free and good advice never is (excluding mine, of course).

2). Make sure your guy has some experience. You don’t want to hire a starving newb.

3). If the investment company is paying for their advisory services they’re working on commission and automatically there’s going to be a conflict of interest. There are ways to minimize that but a fee based advisor charges a flat fee or percentage of assets under management. These guys are the ones that “do better when you do better”. Sometimes, companies or school districts will pay these fees but not often.

4). Shop around. Fees are typically negotiable and should be competitive. If they aren’t, leave. The industry is really efficient these days, it’s tough to create real value especially for smaller investors.

5). Insurance products should be way down on the list of discussion items and anything outside of Term Life for most people is a commission sale.

I could go on all night. Hopefully that’s some food for thought. Feel free to ask any specific questions. There are some financial planners on this site (I, by the way am not) that are very knowledgeable. Hopefully they can chime on on this as well.

Sorry for the long winded response but I have a special place in my heart for teachers. I’ve worked with school districts before and understand the unique financial planning challenges you guys face. Mom, sister, and wife’s best friend are also teachers.

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Read The Bogleheads Guide to Investing. It’ll walk you through the process of finding what’s best for you, and clearly explain everything so you know what to do