Pensacola Fishing Forum banner

1 - 20 of 33 Posts

·
Registered
Joined
·
1,942 Posts
Discussion Starter #1
Simple stuff really... My wife was recently downsized and we have a little retirement and 401k money we need to roll over. I don't know anyone locally. I would prefer to find someone in the downtown area if possible, but will go anywhere around pensacolafor the right guy.
 

·
Registered
Joined
·
84 Posts
O'Sullivan Creel. Mort O'Sullivan will give you the name of who you need to talk to. I've worked with them on real estate deals and they are absolutely wonderful people to deal with.
 

·
Registered
Joined
·
2,295 Posts
If it's a simple 401k rollover, I would consider calling Vanguard and doing it yourself - I just bought some Mutual Funds from them and when I called, the CSR I spoke with walked me through everything. I've had fantastic service, never have a problem reaching someone and they have a ton of options.

www.vanguard.com

Locally, I've used Guernsey and Associates, they are very thorough and comprehensive, although eventually they get to the "pitch" where they try to sell you whatever you are missing from your portfolio (Whole Life Insurance, Disability Insurance, etc)
 

·
Registered
Joined
·
10 Posts
Dan Kopack with O'Sullivan is a great guy and he is also a fisherman. He has been advising my family for at least ten years. The main number is 435-7400.
 

·
Registered
Joined
·
1,623 Posts
PensacolaEd (10/16/2007)If it's a simple 401k rollover, I would consider calling Vanguard and doing it yourself - I just bought some Mutual Funds from them and when I called, the CSR I spoke with walked me through everything. I've had fantastic service, never have a problem reaching someone and they have a ton of options.

www.vanguard.com

Locally, I've used Guernsey and Associates, they are very thorough and comprehensive, although eventually they get to the "pitch" where they try to sell you whatever you are missing from your portfolio (Whole Life Insurance, Disability Insurance, etc)
I agree. For something as simple as a roll-over I would just give Vanguard a call.
 

·
Registered
Joined
·
2,271 Posts
The trouble with some "financial advisors " is the ones that could not make it in insurance selling business. If it is a 401 rollover do not have the company send you the check!:nonono It needs to be sent directly to an investment party. Talk to Kent Lipmen at A.G. Edwards.
 

·
Registered
Joined
·
2,828 Posts
You may want to at least look at the "target date" funds now available. They are based on the year you plan to retire, are diversified, and gradually rebalance to a more conservative stance as that date approaches. No "baby sitting" required! We switched our retirement $ over to one each (T. Rowe Price), and while it's only been a few years, the returns have us VERY satisfied!
 

·
Registered
Joined
·
736 Posts
best advice is not to take advice from a fishing forum unless the advice giversare financial advisors(sorry guys i know you are just trying to help:angel)......you stated that you have retirement funds and 401k money?........so you and/or your wifealready have an ira i take it, why not roll the 401k into the current ira if it is in your wifes name....you can have your current custodian send you the check directly if you want (sorry hook)......you have 60 days to start an ira with the funds, if you choose this route let the current custodian of the 401k know that you do not want anything withheld (such as 20%).........i suggest looking at others options than the Guernsey's, they are a little tooold school for me......if you are comfortable with it, look into opening an online brokerage account like scottrade or td ameritrade......do researchon etf's, no load mutual funds and low cost index funds to spread the risk....bets of luck!
 

·
Registered
Joined
·
1,464 Posts
Flounderpounder (10/16/2007)You may want to at least look at the "target date" funds now available. They are based on the year you plan to retire, are diversified, and gradually rebalance to a more conservative stance as that date approaches. No "baby sitting" required! We switched our retirement $ over to one each (T. Rowe Price), and while it's only been a few years, the returns have us VERY satisfied!
:withstupid

Lots of suggestions of doing it yourself with Vanguard. I admit its pretty straight forward and all you are doing is rolling over some accounts into a single unit, you probably don't need an advisor. However, there is something comforting about talking face to face with someone. I have a friend who is an indepdent rep and I've rolled some stuff over with him. Its not rocket science. I've rolled over before on my on and rolled over with him. Actually, I did the work when I rolled over with him. And everything is online so I will continue to manage everything myself. But still, my friend is in the same finicial shape as I am and he told me what he has and I went with that. Just what ever you feel most comfortable doing.
 

·
Registered
Joined
·
2,828 Posts
Mudskipper:

I agree about taking advice from us dumbasses! However, a LOT of financial advisors aren't worth shark chum!Many can't even beat the market averages, and they charge you up the wazoo to boot! Give me a little time to research, diversify, and you are welcome to the "advisors". I know several, as well as several people who have gotten hosed. With all the data and expertise available for free (big mutual fund co.s, etc), you are welcome to them. I'm sure there are some good ones out there.....I just trust me more. Dang, it must be a rainy day!:sleeping
 

·
Registered
Joined
·
339 Posts
No disrespect to anyone, but if you aren't in the business of financial planning or investment planning, how do you expect to have all the tools that the pros do? Despite what you may read in Money magazine or hear from Suze Orman, its not that easy to evaluate and determine the best way to invest your money. You need to take into account overall portfolio, time frames, financial goals, age, tolerance to risk, etc. And...those asset allocation tools that you see on web sites aren't worth much. There are many more sophisticated methods available to professionals (i.e., Monte Carlo analysis) to help you best invest your money. It's like most things....you're gonna get what you pay for.

Yes, I'm in the business, so I am a little biased. But, I would much prefer an investmentprofessional looking after my financial well being, just as I would prefer a capable doctor looking after my physical health, a dentist looking after my oral health, an accountant looking after my taxes, a lawyer looking after my legal affairs, etc. It would be my hope that these people, because of their education and training, continuing education requirements, and tools would be better able to help me.

If you would like to talk, please contact me via my email.

Good Luck!
 

·
Registered
Joined
·
9 Posts
AUradar (10/16/2007)
mudskipper (10/16/2007)best advice is not to take advice from a fishing forum
especially recommendations on who to call from people with 1 post.

Makes you wonder!!!
What? Posting alot makes you smarter? :doh I just switched to the new forum and changed my handle. Anyway, I'll be nice to you since I'm an Auburn grad. WAR EAGLE!
 

·
Registered
Joined
·
1,464 Posts
Big D (10/16/2007)
AUradar (10/16/2007)
mudskipper (10/16/2007)best advice is not to take advice from a fishing forum
especially recommendations on who to call from people with 1 post.

Makes you wonder!!!
What? Posting alot makes you smarter? :doh I just switched to the new forum and changed my handle. Anyway, I'll be nice to you since I'm an Auburn grad. WAR EAGLE!
sorry, forgot to put the :poke on that post.And if you had posted the Auburn grad thing, well, there wouldhave been no reason to look any further!! :letsdrink
 

·
Registered
Joined
·
1,464 Posts
Flounderpounder (10/16/2007)Mudskipper:

I agree about taking advice from us dumbasses!
Shoot, I've seen some of the boats these forum finical dumbasses have. I think I'll listen to them very carefully.
 

·
Registered
Joined
·
2,271 Posts
Flounderpounder (10/16/2007)Mudskipper:

I agree about taking advice from us dumbasses! However, a LOT of financial advisors aren't worth shark chum!Many can't even beat the market averages, and they charge you up the wazoo to boot! Give me a little time to research, diversify, and you are welcome to the "advisors". I know several, as well as several people who have gotten hosed. With all the data and expertise available for free (big mutual fund co.s, etc), you are welcome to them. I'm sure there are some good ones out there.....I just trust me more. Dang, it must be a rainy day!:sleeping
Sorry Mudskipper but most of the "Financial Advisors" are insurance people that could not make it in their own field. Stick with a good C.P.A. and read for yourself:doh I retired at 55 with my investiments
 

·
Registered
Joined
·
1,063 Posts
I had to do the same thing myself a couple of years ago. Between Vanguard.com, Fidelity.com, and Google. I got all the info I needed.

No offence to anyone in the business but I decided I am smart enough to handle it myself and I am more concerned about my financial well being than some guy I don't know sitting behind a desk.
 
1 - 20 of 33 Posts
Top