Neighbor discussing finances with me

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alwayshedge
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Neighbor discussing finances with me

Post by alwayshedge » Sat Oct 13, 2018 3:02 pm

So my neighbor is roughly my age and we've become good friends over the years. We were recently talking about the market and he was telling me how he shifted all his investments to a money market (due to the coming crash *sigh*) and his adviser recommended he move instead to a bond fund with zero risk versus the money market since the yield is much higher on the bond fund. I sort of made a :confused face and told him that the bond fund HAS risk and his adviser is wrong. He told me the specific fund his adviser put him in has zero risk. I feel like I have to do something here but part of me tells me that people are better left to find out their own errors. What do you guys think? Frankly I am a bit disgusted that someone is pitching a bond fund as a zero risk product but that's besides the point.

MotoTrojan
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Re: Neighbor discussing finances with me

Post by MotoTrojan » Sat Oct 13, 2018 3:08 pm

alwayshedge wrote:
Sat Oct 13, 2018 3:02 pm
So my neighbor is roughly my age and we've become good friends over the years. We were recently talking about the market and he was telling me how he shifted all his investments to a money market (due to the coming crash *sigh*) and his adviser recommended he move instead to a bond fund with zero risk versus the money market since the yield is much higher on the bond fund. I sort of made a :confused face and told him that the bond fund HAS risk and his adviser is wrong. He told me the specific fund his adviser put him in has zero risk. I feel like I have to do something here but part of me tells me that people are better left to find out their own errors. What do you guys think? Frankly I am a bit disgusted that someone is pitching a bond fund as a zero risk product but that's besides the point.
I think the best you can do is give this individual a bogle related book and leave it up to them. If you convince them to get back in the market and it tanks it’ll be your fault.

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Doom&Gloom
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Re: Neighbor discussing finances with me

Post by Doom&Gloom » Sat Oct 13, 2018 3:10 pm

No, you really do not have to do something here. Proceed at your own risk.

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dm200
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Re: Neighbor discussing finances with me

Post by dm200 » Sat Oct 13, 2018 3:13 pm

MotoTrojan wrote:
Sat Oct 13, 2018 3:08 pm
alwayshedge wrote:
Sat Oct 13, 2018 3:02 pm
So my neighbor is roughly my age and we've become good friends over the years. We were recently talking about the market and he was telling me how he shifted all his investments to a money market (due to the coming crash *sigh*) and his adviser recommended he move instead to a bond fund with zero risk versus the money market since the yield is much higher on the bond fund. I sort of made a :confused face and told him that the bond fund HAS risk and his adviser is wrong. He told me the specific fund his adviser put him in has zero risk. I feel like I have to do something here but part of me tells me that people are better left to find out their own errors. What do you guys think? Frankly I am a bit disgusted that someone is pitching a bond fund as a zero risk product but that's besides the point.
I think the best you can do is give this individual a bogle related book and leave it up to them. If you convince them to get back in the market and it tanks it’ll be your fault.
I would be very cautious. All I might do is pull up the historical facts on this bond fund and demonstrate that you can lose money in almost all bond funds. I would just show him "the facts" and leave the level of risk assessment to him and the adviser.

It is also possible that the adviser did not tell him exactly what he related to you. You were not there.

I find this, commonly, as well when other folks relate some very bizarre things they say their doctors told them.

JustinR
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Re: Neighbor discussing finances with me

Post by JustinR » Sat Oct 13, 2018 3:16 pm

Their finances aren't your concern.

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mrspock
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Re: Neighbor discussing finances with me

Post by mrspock » Sat Oct 13, 2018 3:17 pm

Doom&Gloom wrote:
Sat Oct 13, 2018 3:10 pm
No, you really do not have to do something here. Proceed at your own risk.
+1 point them to a book... and even then.

chevca
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Re: Neighbor discussing finances with me

Post by chevca » Sat Oct 13, 2018 3:23 pm

Leave it be. There's nothing you can do here. They shifted all their investments to a bond fund due to the coming crash. Trying to explain that a bond fund does have some risk is the least of what should be explained to this person.

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dm200
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Re: Neighbor discussing finances with me

Post by dm200 » Sat Oct 13, 2018 3:24 pm

chevca wrote:
Sat Oct 13, 2018 3:23 pm
Leave it be. There's nothing you can do here. They shifted all their investments to a bond fund due to the coming crash. Trying to explain that a bond fund does have some risk is the least of what should be explained to this person.
Yes - that might be the best as well.

Mike Scott
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Re: Neighbor discussing finances with me

Post by Mike Scott » Sat Oct 13, 2018 3:25 pm

If you are really good friends, you might suggest a Vanguard or similar advising consultation and/or the bogleheads book so they can learn more. Then leave it alone.

AZAttorney11
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Re: Neighbor discussing finances with me

Post by AZAttorney11 » Sat Oct 13, 2018 3:28 pm

Let him do his thing. Invite him over, share a few beers, enjoy the grill, and talk about the kids or spouses or careers or something else. A good neighbor is hard to find. Don’t do anything that would potentially cause issues.

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linenfort
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Re: Neighbor discussing finances with me

Post by linenfort » Sat Oct 13, 2018 3:30 pm

Friendship is priceless.
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balbrec2
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Re: Neighbor discussing finances with me

Post by balbrec2 » Sat Oct 13, 2018 3:32 pm

Just because he is sharing his finances with you doesn't mean you should offer advice.
He has an advisor ( however good or bad). Stay out of it and stay friends.

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dm200
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Re: Neighbor discussing finances with me

Post by dm200 » Sat Oct 13, 2018 3:38 pm

balbrec2 wrote:
Sat Oct 13, 2018 3:32 pm
Just because he is sharing his finances with you doesn't mean you should offer advice.
He has an advisor ( however good or bad). Stay out of it and stay friends.
In my opinion, there is a difference between "information" and "advice".

So, if you are on the railroad tracks and a train is coming - advice might be "Get off the tracks", while information might be "A freight train is coming down the tracks you are occupying."

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willthrill81
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Re: Neighbor discussing finances with me

Post by willthrill81 » Sat Oct 13, 2018 3:39 pm

I've learned the hard way that even with close family members, people are nearly always going to ignore any information or advice you give them, especially when it comes to money.

The longer that time goes on, the more I loathe the term "financial advisor." I doubt that the OP's neighbor would be so trusting if his title was "financial product salesperson," but that's what s/he is.
“It's a dangerous business, Frodo, going out your door. You step onto the road, and if you don't keep your feet, there's no knowing where you might be swept off to.” J.R.R. Tolkien,The Lord of the Rings

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dm200
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Re: Neighbor discussing finances with me

Post by dm200 » Sat Oct 13, 2018 3:40 pm

willthrill81 wrote:
Sat Oct 13, 2018 3:39 pm
I've learned the hard way that even with close family members, people are nearly always going to ignore any information or advice you give them, especially when it comes to money.

The longer that time goes on, the more I loathe the term "financial advisor." I doubt that the OP's neighbor would be so trusting if his title was "financial product salesperson," but that's what s/he is.
Right. They, then, only remember things you told them that do not turn out correctly.

HEDGEFUNDIE
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Re: Neighbor discussing finances with me

Post by HEDGEFUNDIE » Sat Oct 13, 2018 3:41 pm

Maybe it was a short term Treasury fund, in which case it would be very low risk. Or a stable value fund.

If you are good friends with him, why not mention you are a fan of Bogleheads and suggest he check this place out? It’s what I would do with people I care about.
Last edited by HEDGEFUNDIE on Sat Oct 13, 2018 3:58 pm, edited 1 time in total.

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Mlm
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Re: Neighbor discussing finances with me

Post by Mlm » Sat Oct 13, 2018 3:42 pm

A good friend of mine told me that her financial adviser didn't charge fees. :shock: I kept my mouth shut and we're still good friends.

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Doom&Gloom
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Re: Neighbor discussing finances with me

Post by Doom&Gloom » Sat Oct 13, 2018 3:47 pm

I wouldn't take financial advice from any of my neighbors whether I had a financial advisor or not. I probably would totally ignore anything they had to say on the subject. [Would have been true at any stage of my adult life.]

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tuningfork
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Re: Neighbor discussing finances with me

Post by tuningfork » Sat Oct 13, 2018 3:49 pm

Mlm wrote:
Sat Oct 13, 2018 3:42 pm
A good friend of mine told me that her financial adviser didn't charge fees. :shock: I kept my mouth shut and we're still good friends.
Same here with a former co-worker. He tells me "All his advice is free" and "My annual review with him is free" and "He's got us in all these great funds" and so on.

I retired from that job 5 years ago while my former co-worker is still working. When I ask him when he plans to retire, he tells me "My adviser says maybe in another two years". He told me that two years ago, and he told me that again this year. Hmmmm...

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cheese_breath
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Re: Neighbor discussing finances with me

Post by cheese_breath » Sat Oct 13, 2018 3:56 pm

I agree with the others. Don't give advice unless asked. Although I'm curious if this 'bond fund' might really be an annuity where you 'experience the upside while being protected from the down side.'
The surest way to know the future is when it becomes the past.

bhsince87
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Re: Neighbor discussing finances with me

Post by bhsince87 » Sat Oct 13, 2018 3:58 pm

Send him this link, tell him it's the best advice you've ever found, and leave it at that.

https://www.bogleheads.org/wiki/Getting_started
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arcticpineapplecorp.
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Re: Neighbor discussing finances with me

Post by arcticpineapplecorp. » Sat Oct 13, 2018 3:59 pm

here's one way you could handle it (notice I said "could" not "should"):

First listen (you, not him) to Rob Berger's Dough Roller Money Podcast episode 299 (https://www.doughroller.net/thepodcast/). It's titled "How to help others with their financial struggles".

Rob discusses how he had conversations with his kids and even friends. He didn't hit them over the head with information. He didn't put down his friends' advisors. He didn't give them books and so on. He didn't start the conversations, they did. But when they did...he didn't give information.

Instead, he asked questions.

Like when you friend mentions the bond fund, you can ask him how much it costs? When your friend looks at you blankly don't press. Let it hang there. The silence should be uncomfortable (for him, not you). It should force him to go back and ask his advisor (or better yet look for himself) how much it costs.

He may come back and say "You know that bond fund I was telling you my fine advisor put me in? Well it costs just 1.5% a year!" You can ask, "Do you think that's a low fee?" When he doesn't know because he hasn't compared bond fund fees or fund families, etc. let it hang there. Don't tell him it's expensive. Let him research it himself. If he can't and he wants to know how, let him ask you.

When he says he's gotten out of the market, you can ask him when the right time will be to get back in. He may not know. He may just say his guy will let him know when the time is right. Let that hang there. Don't respond.

You can ask him how he selected his advisor. You can ask him if he's looked up his advisor's background, checked him out. When he says no he doesn't need to or he didn't know he could, you can let that hang there. Don't offer for him to go to https://adviserinfo.sec.gov/. Wait for him to ask how to do that (he may not. he may not want to know).

And so on. That sort of thing. You'll see that asking questions is a better way of getting people to find the answers to questions they don't know. If they care to. Many people prefer to remain ignorant for some reason that's beyond me. Ignorance is bliss they say. It's also expensive.
"Invest we must." -- Jack Bogle | “The purpose of investing is not to simply optimise returns and make yourself rich. The purpose is not to die poor.” -- William Bernstein

cashboy
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Re: Neighbor discussing finances with me

Post by cashboy » Sat Oct 13, 2018 4:03 pm

fwiw, if he is a friend leave him be. you could always offer to share with him the way you invest, but leave his investments to him unless he asks for advice. It is personal. unless you feel he is getting 'disastrous' advice.

let me give an example.

One day I was speaking to my sister about finances. she is retired. she recently decided to go with active management via Fidelity at a cost of over $7,000 a year. She did this since they suggested investing is quite complicated... hmmm.... who knows what funds they might have put her into...

now, do i care about my sister? yes.
would I do what she did? no.

so, i asked her how she felt about this, she said she was fine with it. i left it at that

MJW
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Re: Neighbor discussing finances with me

Post by MJW » Sat Oct 13, 2018 4:15 pm

Since your neighbor has raised the subject with you, I think there is a way you can approach this without being a) too forceful/meddling/know-it-all-y, or b) too committal/involved. The next time your neighbor mentions the subject, you can respond by simply telling him what a good idea it is to become as independently knowledgeable on the subject as possible and how glad you are that you took the time to do it. Give a few examples of the difference it has made for you and then offer to send over some of the resources you found most helpful.

I would leave it at that and then not discuss the subject any further, even if your neighbor is the one to bring it up. Smile, nod and shrug.

Mr.BB
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Re: Neighbor discussing finances with me

Post by Mr.BB » Sat Oct 13, 2018 4:17 pm

dm200 wrote:
Sat Oct 13, 2018 3:38 pm
balbrec2 wrote:
Sat Oct 13, 2018 3:32 pm
Just because he is sharing his finances with you doesn't mean you should offer advice.
He has an advisor ( however good or bad). Stay out of it and stay friends.
In my opinion, there is a difference between "information" and "advice".

So, if you are on the railroad tracks and a train is coming - advice might be "Get off the tracks", while information might be "A freight train is coming down the tracks you are occupying."
+1
"We are what we repeatedly do. Excellence, then, is not an act, but a habit."

mortfree
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Re: Neighbor discussing finances with me

Post by mortfree » Sat Oct 13, 2018 4:18 pm

Best thing I ever did was ask my neighbor how he prepared for retirement. He mentioned Buffett and Bogle.

Sometimes the conversations do work.

For the OP’s case. I’d let it go about the bond fund. More concerning is that the neighbor has an advisor but that’s a whole other topic that isn’t discussable either (given the dialogue presented here between OP and neighbor).

Some will learn and some will not.

delamer
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Re: Neighbor discussing finances with me

Post by delamer » Sat Oct 13, 2018 4:23 pm

If your friend had asked for your opinion on investing in general or on the bond fund in particular, then I’d suggest gifting him one of the Boglehead investing books.

But it sounds like this was just a casual conversation, so I’d drop it.

I do sympathize though. I have a couple friends who are doing dumb stuff with their investments. Most people know that I am “into” investing so I figure they’ll ask if they have questions.

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LadyGeek
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Re: Neighbor discussing finances with me

Post by LadyGeek » Sat Oct 13, 2018 4:32 pm

This thread is now in the Personal Finance (Not Investing) forum (financial advice).
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Fallible
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Re: Neighbor discussing finances with me

Post by Fallible » Sat Oct 13, 2018 4:35 pm

Two things: he is a good friend and a good neighbor. Telling him, in effect, that he is wrong and you are right about money could risk losing both. IMO, the bigger risk is yours, not his.
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helloeveryone
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Re: Neighbor discussing finances with me

Post by helloeveryone » Sat Oct 13, 2018 4:44 pm

cashboy wrote:
Sat Oct 13, 2018 4:03 pm
fwiw, if he is a friend leave him be. you could always offer to share with him the way you invest, but leave his investments to him unless he asks for advice. It is personal. unless you feel he is getting 'disastrous' advice.

let me give an example.

One day I was speaking to my sister about finances. she is retired. she recently decided to go with active management via Fidelity at a cost of over $7,000 a year. She did this since they suggested investing is quite complicated... hmmm.... who knows what funds they might have put her into...

now, do i care about my sister? yes.
would I do what she did? no.

so, i asked her how she felt about this, she said she was fine with it. i left it at that
it's really hard because it's hard to translate hours and hours of perusing BH and acquiring the knowledge on BH into a few sentences that make sense to people who are not knowledgeable about it and just listening to their FA, or buddies who are in finance etc...

My brother in law has purchased (then cancelled) whole life, invested in bitcoins, bought a new car beyond his means even though he could have applied that $ to school loans, increased his hours at a second job to pay for the new car loan. I've periodically brought up index fund investing, looking at expense ratios etc... but never in a pushy way. I've shared BH site as well. But I don't ever want to be pushy about it since to each their own and I'm always available to guide him to the right resources should he seek this out.

hicabob
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Re: Neighbor discussing finances with me

Post by hicabob » Sat Oct 13, 2018 4:49 pm

Bond funds have been returning about zero recently so perhaps that's the definition of zero risk?

ccieemeritus
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Re: Neighbor discussing finances with me

Post by ccieemeritus » Sat Oct 13, 2018 4:52 pm

+1 for a book. Call it an early Christmas present.

I like to give advice by saying "what I would do". That's lower risk than telling him what he should do.

Examples: "I like investing in S&P 500 index funds", "I invest with low cost mutual funds at Schwab and Vanguard", "My goal is to gain 7% a year (long term average) by investing in S&P 500 index funds". "Even Warren Buffet tells his family to invest in index funds, I follow that advice".

The old joke that economists have predicted 11 of the last 5 crashes also seems to apply here.

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TxAg
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Re: Neighbor discussing finances with me

Post by TxAg » Sat Oct 13, 2018 5:17 pm

If you're close friends, discuss it further.

sport
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Re: Neighbor discussing finances with me

Post by sport » Sat Oct 13, 2018 5:19 pm

cheese_breath wrote:
Sat Oct 13, 2018 3:56 pm
I agree with the others. Don't give advice unless asked. Although I'm curious if this 'bond fund' might really be an annuity where you 'experience the upside while being protected from the down side.'
Bingo!

InMyDreams
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Re: Neighbor discussing finances with me

Post by InMyDreams » Sat Oct 13, 2018 5:27 pm

You could say something, like -

I know people who use an adviser, but still think they want to understand their money and investments and have a good picture of financial planning. One friend suggested Jane Bryant Quinn's How to Make Your Money Last. It has a lot of information not only about investing, but also most if not all aspects of financial planning. Just good, solid, practical advice and it's a pretty easy read. And if you have any questions - I'll see if I can find an answer!

More aggressive would be suggesting that he ask his advisor to sign a fiduciary statement.

staythecourse
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Re: Neighbor discussing finances with me

Post by staythecourse » Sat Oct 13, 2018 5:45 pm

I would not touch this with a 10 foot pole. Making suggestions to a family member is better then getting involved with your neighbors finances. What if he listens and loses MORE money. Man, that would be uncomfortable.

My advice with neighbors is NEVER get too close as a fallout in that relationship affects your home life.

Good luck.
"The stock market [fluctuation], therefore, is noise. A giant distraction from the business of investing.” | -Jack Bogle

downshiftme
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Re: Neighbor discussing finances with me

Post by downshiftme » Sat Oct 13, 2018 5:47 pm

So often people claim that advisers add value more than the fees they charge because they will be cooler heads during downturns and help clients avoid selling at a loss.
and his adviser recommended he move instead to a bond fund with zero risk versus the money market since the yield is much higher on the bond fund. I sort of made a :confused face and told him that the bond fund HAS risk and his adviser is wrong. He told me the specific fund his adviser put him in has zero risk.
Here's a great example of an adviser fear mongering a client to move out of equities in an attempt to time a market drop. When markets do actually sell off, advisers are just as likely to give bad advice to sell or move to fixed assets as they are to recommend you stay the course. A fairy tale future benefit based on the idea of a wise adviser is just that: a fairy tale.

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Watty
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Re: Neighbor discussing finances with me

Post by Watty » Sat Oct 13, 2018 6:07 pm

ccieemeritus wrote:
Sat Oct 13, 2018 4:52 pm
+1 for a book. Call it an early Christmas present.
Another +1

It would be a much different situation but people have talked about buying things like bitcoin, dot coms stocks, or houses midway through a housing bubble and even though what they did pretty clearly a poor choice it often still goes way up, at least for a while. Even though your friend is likely wrong is it not impossible that the old phrase "It is better to be lucky than smart." could apply in this situation. Be very careful about giving specific advice about what is right or wrong.

Encouraging him to understand the costs involved with using a financial advisor is different though and a lot more reasonable thing to do since you can correctly identify that. Once he understands that the advisor will cost hime $X next year he can decide if the cost is worth it to him or not.

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GerryL
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Re: Neighbor discussing finances with me

Post by GerryL » Sat Oct 13, 2018 6:22 pm

Mlm wrote:
Sat Oct 13, 2018 3:42 pm
A good friend of mine told me that her financial adviser didn't charge fees. :shock: I kept my mouth shut and we're still good friends.
When someone tells me this I want to say, "I wonder how the FA makes a living if s/he does not charge any fees." But I bite my tongue instead.

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LadyGeek
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Re: Neighbor discussing finances with me

Post by LadyGeek » Sat Oct 13, 2018 6:28 pm

Here's a book list: Books: recommendations and reviews

Or, just point them to the wiki: Getting started
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UpperNwGuy
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Re: Neighbor discussing finances with me

Post by UpperNwGuy » Sat Oct 13, 2018 6:34 pm

If you read enough Bogleheads, sooner or later you will come across the claim that Treasury bond funds have zero risk — because the bonds are guaranteed by the government. They forget to mention that Treasury bond funds are still subject to normal duration risk. Perhaps your friend's advisor is recommending a Treasury bond fund and describing the risk that same way many Bogleheads do here on the forum.

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goodenyou
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Re: Neighbor discussing finances with me

Post by goodenyou » Sat Oct 13, 2018 6:55 pm

Very few people will take your advice if you are not a registered financial advisor. Sometimes they will take your advice if you are a person with conspicuous consumption and material elitism because people believe that you have the magic touch. A paid off mortgage is not conspicuous and early retirement is usually written off as a lucky inheritance. I find it very hard to discuss these types of things because people don’t want take financial advice from unpaid professionals regardless of how informed you are. The ones that begin the financial enlightenment journey will soon relaize that you DO know what the hell you are talking about. The ones that don’t will remain foolishly lost and taken advantage of by sharks. Can you imagine the headache you would have right now if you were trying to mollify their fear in the current market? Even the investors that have a bit of financial competence have a a hard time trying to keep it together.
"Ignorance more frequently begets confidence than does knowledge" | "The best years you have left are the ones you have right now"

nyclon
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Re: Neighbor discussing finances with me

Post by nyclon » Sat Oct 13, 2018 7:24 pm

If you're close friends, mention that out of curiosity youd like to know the ticker. Then show a chart that will include ups and downs, and leave it there.

sport
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Re: Neighbor discussing finances with me

Post by sport » Sat Oct 13, 2018 7:31 pm

Before I retired, I was a member of the 401k committee for my employer. To avoid lawsuits, the company asked an attorney at a large law firm how to select mutual funds for the plan. The attorney provided a written plan that said to use Morningstar ratings, which are merely past results. I knew better than that. However, I also knew better than to tell management that I knew more about choosing funds than the lawyer did. After all, I had no credentials and the lawyer was a high-priced professional. Providing financial advice to a neighbor would be even worse than that. (BTW, the fund choices made according to the legal advice turned out to poor performers and had to be changed after a time.)

onourway
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Re: Neighbor discussing finances with me

Post by onourway » Sat Oct 13, 2018 7:52 pm

One of my co-workers who is generally among the smartest guys I know likes to tell me how smart he is for having gotten entirely out of stocks in 2008 and having avoided the crash, saving himself 'over $300,000.'

I just bite my tongue in order to avoid telling him about the ~$1M he's missed out on in the decade since...

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Re: Neighbor discussing finances with me

Post by Grt2bOutdoors » Sat Oct 13, 2018 9:06 pm

Could be a stable value fund?
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l1am
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Re: Neighbor discussing finances with me

Post by l1am » Sun Oct 14, 2018 2:36 am

Mlm wrote:
Sat Oct 13, 2018 3:42 pm
A good friend of mine told me that her financial adviser didn't charge fees. :shock: I kept my mouth shut and we're still good friends.
You aren't good friends. A good friend would tell her the truth.

A lot of you people ITT have a bizarre interpretation of what friendship is. Say 'acquaintance' instead of 'friend'.

Nissanzx1
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Joined: Wed Jul 18, 2018 11:13 pm

Re: Neighbor discussing finances with me

Post by Nissanzx1 » Sun Oct 14, 2018 3:07 am

My new neighbor told me he lost almost everything in Enron :oops:

They both are older and even have trouble walking but still have to work M-F and he says they will work for a couple more years. They didn't paint their home this year because of the cost of a knee surgery.

In your situation, I'd buy him a bogle book and probably direct him here...

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cinghiale
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Re: Neighbor discussing finances with me

Post by cinghiale » Sun Oct 14, 2018 5:11 am

I really like arcticpineapplecorp’s advice upthread. It’s a way to be involved without being intrusive. No matter how you cut it, offering unsolicited advice is an intrusive act. And a high-risk one. Asking questions and having the patience and discipline to not fill in the uncomfortable silences displays interest without crossing the line.

Unless your neighbor asks, point blank, “So, what do you think?”, he really just wants affirmation. Period.
"We don't see things as they are; we see them as we are." Anais Nin | | "Sometimes the first duty of intelligent men is the restatement of the obvious." George Orwell

livesoft
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Re: Neighbor discussing finances with me

Post by livesoft » Sun Oct 14, 2018 5:32 am

Grt2bOutdoors wrote:
Sat Oct 13, 2018 9:06 pm
Could be a stable value fund?
It could also be a fixed income annuity or other annuity. When someone tells me something unexpected and likely not true, I usually find out they misunderstood what was said to them.

BTW, I talk to my friends, family, and neighbors all the time about investing. We all do different things and we are all still friends. Am I going to short the S&P500 using futures? No. Is my neighbor going to invest in index funds? No. But the latest, I got was, "We are trying to get out of debt and become debt-free like I see many retirees around here are."
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