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  1. Hey Scotty, I have not seen a substitute teacher used in the manner you discribed in your post. Hiring a sub to teach a class so that you can sell to one teacher does not seem like an effective use of the substitute. I have seen substitute and full time teachers become reps and use their connections to get access to teachers.
  2. I guess it's not time to stop blaming agents just yet...
  3. JustMurph


    Sierra? C'mon bud...don't let me down here...
  4. Westerndad, NO NO NO! I think we all Know who needs to move on: JOEL! (just kidding!) It's me. I'm the one that got juvinile trying to prove a point and it backfired on me. I get so crazy because I'm out here "trying" to do the right thing and I lose business to the reps that sell the high fee products with some bells & whistles that clients don't really need. I talk about beta's and negative correlation and some nuckle head comes in with a GMIB rider or an index annuity and the teacher thinks they found a magic pill. I'm banging my head against a wall. I get so frustrated. Then I come here looking for some answers and I "feel" like I was unfairly judged. I got lumped in with all the nutjobs I compete against. I got no credit for trying to open a discussion in search of a win-win. The posts are all still there if you want to go back and look at my first experience here. But it was someone else that was doing the attacking...you were being tough but cool about it. Your entitled to your opinions and this board should be for you...not me. I'm not going to fix the TSA business by adding my opinions to this board. I can be part of the solution by how I run my personal business day to day. So westerndad, you stay - this board needs your imput. Respectfully, Justin Series 6,7,24,26,53,63,65
  5. Westerndad, I honestly didn't think you would go for the bait. It's not fun being unfairly stereotyped is it? You've done all this great work, the AP classes, motivating your students to be the best they can be and help them get into the College of their dreams and I just lumped you in with all the other Teachers. It's not a good feeling is it? You're working hard in a system that is failed and I assumed that you were like some of the other teachers that just don't care. I'm sure your results are fantastic and I can sense the loving person that you are from your other posts...but man you got personal fast when someone started making "wise-cracks" about your profession. I LOVE THIS WEBSITE!
  6. There is a fund family that uses a multiple portfolio counselor system where each fund is managed by 5-7 fund managers (with yet another section run by the research team). If one fund manager happens to leave - the integrity of the fund is still intact. A quick review of the prospectus will show that the manager tenure falls between 16 & 37 years. A history of excellent returns, consistent management AND, again, more money in your pocket at the end of the day.
  7. Dan, I believe that this board has made me a better investment advisor for my clients. I drop by and see what you all are saying and then look in the mirror to see if I'm doing the right thing for my clients. On the scale of reps it starts at your basic two-tier snake oil salesman and works all the way up to Scottyd. This site made me realize that, while I still earn a living "selling" investments (which means I should burn in hell) I am closer to the Scottyd side of the scale. I think we all know where this is heading...the end of the 403(b). Many school employees will be left with no TSA at all. Others will be left with fewer choices. Whose going to win the school districts business? None of us know...but there's a chance that it could be someone other than TC or Vanguard. Whose been winning the 457 business? Many of those went out for quote. Has it been TC or Vanguard? No. One small victory for us reps is the recent "outing" westerndad's connection with Vanguard...I knew there was something going on there...we have pics of him driving his Bently with a "I Love Vanguard" bumper sticker.
  8. Because past performance is no guarantee of future returns. One cannot predict how a given fund will perform in the future. One CAN, however, predict fees with a certain degree of accuracy. Of course, if we DID use past performance as a means of comparison, low cost index funds would be seen as outperforming a large majority of actively-managed funds over time. A large majority...but not all of them...So, if you did find a managed fund that for the past 40-50 years has out-performed the index we should just ignore it? We're not talking about a couple of years here...were talking decades. With a beta of .80 which means I've taken less risk, experienced lower volatility AND I've got more money in my account at the end of the day. Don't get me wrong, index funds are a fine option - but they are not the panacea that this board [sometimes] makes them out to be.
  9. Why does this board always assume that the returns for both funds will be the same and not use the real returns of each fund? The returns are published and easy to find...is comparing fees AND performance history unfair?
  10. I almost choked when I saw this post... There are no fixed annuities paying anywhere near 5%. Sorry, it' just not happening. There are some that are paying in the 4% range but most of those include a bonus which is only good for one year. These companies are "buying business" plain and simple. I have a real problem with Variable Annuities that offer "Guaranteed returns". These GMIB riders are the ONLY riders I know that, the less valuable they become for the client, the MORE they cost. You'll pay .50bps on the TOTAL VALUE of your account for a guarantee of 6%(approx) that in many cases you have to annuitize to get. A couple of good years and the guarantee becomes worthless to you but your paying MORE for it. Yes, you could have bad years too, your kidding yourself if your thinking of investing in the stock market without experiencing temporary cyclical declines - That's why asset allocation is important. There's no magic pill, no secret formula, no "stock market gains without the risk" and no "target" fund that is going to magically take the risk out of the market. if you can't take the heat...
  11. Westerndad, Wait a minute...I know how this goes. You ask me a question, I answer it honestly and even though I do so in good faith you attack me like a pit bull. The fee's are 'good' if the client needs the help, the fees are reasonable and fully disclosed, and the planner is worth it. (did someone just yell sik 'em?) You don't need my help so I wouldn't be worth it to you. I know that most of the people on this site feel that they don't need help and that nobody is worth it. I am perfectly okay with that. My business is based mostly on referrals. I get referrals from clients who are paying me fees. Many of the prospective clients already know how I work because the person who has referred them told them about my business model. Believe it or not, I don't charge or make anywhere near the majority of reps I compete with. I have a high volume - low profit business model. I don't know what to tell you Westerndad. I am charging fees and I'm more booked than ever. I'm sorry, you have been showing such an interest in my investments and the fees I charge and I have not asked you anything about you. Please tell me what you are currently investing in? What fee's your paying and what your performance has been over the last10, 15 & 20 years? I know that you probably were not investing for all 20 years but the fund families have printed histories you can refer to. (I realize that past performance is not an indication of future gain) Tell me about your Asset Allocation - why you've picked the funds you picked and how they are correlated with each other. Also, if you happen to know the beta and standard deviation for your current porfolio that would be great as well.
  12. Steve, Are you sure Vanguard is a true non-profit? Or do you mean that they are a Mutual Company?
  13. Anyone charging fees or willing to share [at anytime] in fees charged = Bad.
  14. Here is the story about the Loan Defaults. Let's say you take a loan for $10,000. and your 50 years old. You default on the loan. That year you will get a 1099R for the $10,000. That $10,000. will continue to accrue interest until you reach a distributable event. for example - 591/2. At 591/2 your defaulted loan with be reclassified as a withdrawal and you will be sent another 1099R for the 9+ years of unpaid interest. I confirmed this with two separate Insurance companies this morning. Imagine the accrued interest build up on a client who is age 30 and defaults on a loan!
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