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After the Win: Who do you consult?

Topic closed. 17 replies. Last post 11 years ago by savagegoose.

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justxploring's avatar - villiarna
Wandering Aimlessly
United States
Member #25360
November 5, 2005
4461 Posts
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Posted: April 11, 2006, 3:43 am - IP Logged

You're welcome, Lollipop!  Sun Smiley

    savagegoose's avatar - ProfilePho
    adelaide sa
    Australia
    Member #37136
    April 11, 2006
    3300 Posts
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    Posted: April 11, 2006, 8:03 am - IP Logged

    hi all ,

    1 talk to professionals that you would know use lawyers, accountants financial planners etc.

    2 when talking to the  people you want to arrange things with; dont give the game away to the 1st one you talk to,  like say woo hoo i won $x million.   even lie about inherriting some small sum like $100k or less.

    3 theres many financial planners , and ways of them getting paid.

     

    id avoid,  commision bassed, and trailing commission based.

    some fee for FA will even refund any comissions, and trailing comissions.

    the reason i say this is fa's can be more interested in getting their best comission, not your bests interests.

    you can get FA that will base fees on performance of your investements.  they dont get paid if your investments perfoming, and are prob motivatee in geting good returns.

     

    Id go for a str8 fee for service , with no comissions form investment houses or refund of trailing comissions etc.

     

    all i can think of 4 now

      savagegoose's avatar - ProfilePho
      adelaide sa
      Australia
      Member #37136
      April 11, 2006
      3300 Posts
      Offline
      Posted: April 11, 2006, 12:01 pm - IP Logged

      thought of another,  estate planning and testimentory trusts!

       

      you want your wishes for after you are dead to be declared. even a trust  that issues shares to descendants , after they meet certian requirements in their life? like a degree in finanncial planning!

      a car when they graduate from high school, a certaIN AMOUNT OF CASH FOR EVERY DOLLAR THEY EARN.

      tax paid by the trust, and as theyre going to be financial planners a cut off at say the average anual wage, so that they leave some money in the trust for futre descendants.

       

      you could really knock yourself out setting up trusts,