Retirement Funds

  • Started
  • Last post
  • 7 Responses
  • Beeswax

    Ok some financial advisor just visited me and offered their retirement programs.
    They give an option to put monthly payments into their selected funds packages. I have the option to change them 6 times a year, so I can begin with a minimum risk package and switch it to high-risk any time that I want. It requires 10 years commitment but If I withdraw some money in the meantime they charge 10% of that amount.

    Is there anybody who has a suggestion for this kind of funds?
    My wife is American and I'm Turkish so we have the option to get in to a system either in the US or in here. I also get about 15%-20% tax write-off from my fund payments here in Turkey and Turkish stock market is expanding as the economy gets larger unless someone starts a war with Iran or Syria.

  • 23kon0

    I'm not worrying about retirement money.
    I got an email the other day from some guy in South Africa and it turns out that someone with the same surname as me has died with no next-of-kin so they contacted me with regards to inheriting around £25,000,000 of the dead dude's savings.

    All I have to do is help to pay the legal fees of £5,000 and send them my bank details.

    Pretty good investment of you ask me!

    • Oh lucky you! I wouldn't wait if I was you.Beeswax
    • lol
      rodzilla
    • fuck sake, so jelly ok 23k!animatedgif
    • <---never heard this joke before..what a knee-slapper!!!cbass99
    • just 5k, what a cheap king! I paid 15 grands and still waiting for that wire transfer :(sted
  • fadein110

    retirement funds are a waste of time... just get really good at what you do and rich and jobs a goodun

    • you're probably joking but I tend to feel this way, I doubt there are many entrepeneurs with retirement plans, forces you to hustle way more_niko
  • vaxorcist0

    NOTE: Most US retirement funds sold by any "financial advisor" who is on commission are loaded up with a LOT more commission than you think... most "financial advisors" are just "salesmen in expensive suits"... they are, to be honest, usually full of shit and high-end statistics...

    Some advisors work on an HOURLY FEE, so their advice is impartial, they're not trying to sell you high-commission life insurance, high-commission mutual funds,etc....

    The currency and tax situation you're up against may be more important than any particular fund or advisor can be able to tell you much about unless you get a SMART, internationally minded advisor who really understands Turkey and US.... and works NOT on commission, but an hourly fee....

    There's an interesting book called "a random walk down wall street" where randomly picked stocks did better over time than the majority of those picked by "investment advisors"

    My dad, the eternal sceptic towards financial "wizards" has come to belive strongly in low-expense index funds, like these:

    http://www.bankrate.com/finance/…

    http://articles.latimes.com/2010…

    also, remember, "past performance is no guarantee or indication of future performance" ... i.e. even idiots get lucky, very, very, very few financial advisors do better than the average market index over time, often because their fees and trading expenses eat up their gains over time....

  • monoboy0

    I've got a UK Equity pension. Lost over half of what I invested for 2011. That's the rub, no investment (average Joe) is completely safe. Especially in the current market.

    If I can't retire at 55 through honest and legal means, I'm going to start trafficking people, guns and drugs. Like the Government does instead.

  • canuck0
  • bklyndroobeki0
  • monNom0

    It can be pretty hard to distinguish between a sales pitch and reality these days. You need to remember though, that ALL investment products are marketed primarily as a means to enrich the seller -- Not you and your retirement nest-egg. You earn returns based on risk, and the less visibility you have into what's going on, the less you can do to protect yourself from those risks.

    If you've got a way that you can invest in yourself and create something of lasting value, where you have insight and control over its operation, I think you'll do much better than to blindly give your money to a bunch of million-dollar bonus bankers who earn their spread no matter if you win or lose.

    They spend an awful lot on advertising to make you think otherwise.