How many people have financial advisors??? - GoFuckYourself.com

slapass · 03-31-2008, 05:09 PM

You always hear people say "if you are really making that kind of money you would have a tax accountant and a financial adviser". And it is said in an all knowing way. I know lots (ok not lots but some) people who have made high 6 figures and low 7 figures for a few years and only one has ever mentioned a financial adviser. I am not even sure what you would expect the guy to do for you? Pick stocks? Pick your mutual funds? Open a money market? Seriously wtf is that all about?

Perfect Andi · 03-31-2008, 05:17 PM

Well, definitely guide your finances, though just be careful- they make money from stocks they refer. Still, they can show you long and short ways to not only manage your money, but have it increase over time, which is the real key. I've had one since I was 17.

Iron Fist · 03-31-2008, 05:19 PM

If i was making 6 digits a year.. I don't know i'd be here at all.. other than a lurker..

Herb Kornfield · 03-31-2008, 05:37 PM

negative and over 6 figs income .... Net.

slapass · 03-31-2008, 09:01 PM

Quote:

Originally Posted by Perfect Andi

Well, definitely guide your finances, though just be careful- they make money from stocks they refer. Still, they can show you long and short ways to not only manage your money, but have it increase over time, which is the real key. I've had one since I was 17.

And how hard is it to buy a sp500 fund and forget about it?

slapass · 03-31-2008, 09:02 PM

Quote:

Originally Posted by Herb Kornfield

negative and over 6 figs income .... Net.

Exactly!

beemk · 03-31-2008, 09:04 PM

i would never hire one, i dont know much about them, but you would think if they were so good at it why would they need to work managing other peoples money and not have a ton of their own?

Sosa · 03-31-2008, 09:24 PM

I have a person within my accounting firm that handles my IRA etc. They are doing a good job so far with the market. Works with my accountant hand in hand, so it works out well.

Dagwolf · 03-31-2008, 09:32 PM

I resent being advised.

woj · 03-31-2008, 10:07 PM

They are only good when you are completely clueless about finances... but that's like 95% of the people in the US, so "financial advisor" business has got to be booming...

farkedup · 03-31-2008, 10:17 PM

I suggest any business using an accountant, however the financial advisor my accountant sent me to didn't really help.... basically you're just paying somebody to tell you shit you should already know. He gave me info on like 10 different places for mutual funds, some info on retirement funds and other things like that but if you're making that kind of bank your best bet is offshore corporations and accounts, NOT using the system here in the US.

My accountant works as an accountant at a major pharmaceutical company around here and he runs all their money through a corporation in Spain simply because trade lows are loose with Spain so it makes the lower taxation over there along with freely flowing money back and forth. The big time shit you'll want to go through Spain but us lil guys can pick an island basically ;)

No way to get an instant 40%+ return other than dodging paying taxes on it....

slapass · 03-31-2008, 10:24 PM

Quote:

Originally Posted by farkedup

No way to get an instant 40%+ return other than dodging paying taxes on it....

Very true. when I was younger I thought the rich had like special accounts that paid double and stuff. Once you get a few $$$ floating around you realize they get 1/4% more not 5%. It is more the tax planning that saves $$$.

fluffygrrl · 04-01-2008, 01:19 AM

I know a couple of financial advisors, what their day mostly comes down to is bellow :

"You see Mr. Honkypecker, buying a 3rd home is NOT a good investment, especially if you're going to buy it on credit, don't intend to live there and don't know much about the real estate market." (all through 2006)

"Cars are very expensive pieces of machinery. They cost a lot to maintain, and while they provide undeniable status symbol benefits, the more traditional way to advertise, mostly preferred by established companies, are ad campaigns and billboard space."

etc etc.

Basically it's holding the hand of the clueless, explaining to them why you don't want to buy stuff you don't need, how to use and when to avoid credit, stuff like that.

And you wouldn't believe it how many people actually benefit from it, and are thankful for it, a few years down the road.

flashfire · 04-01-2008, 01:24 AM

If you are smart enough to make that kind of money you SHOULD be smart enough to manage it properly

Jens Van Assterdam · 04-01-2008, 01:37 AM

Got one since a couple of years. So many stuff you just cant know when you havent learned it...

AlienQ - BANNED FOR LIFE · 04-01-2008, 02:17 AM

Quote:

Originally Posted by flashfire

If you are smart enough to make that kind of money you SHOULD be smart enough to manage it properly

Kevsh · 04-01-2008, 04:37 AM

I honestly think you came to the wrong place to ask this question. As I've found out there are more than a fair share of "know-it-alls" in the adult biz - They think that no one in the world is better capable of doing anything than they are.

The idea that a typical person should manage all of their own finances is ridiculous. Now, if you are a stock broker, etc. by trade, fine, but if you're peddling porn you should stick to peddling porn and let an expert do what they do best. Why on earth you'd want to spend your time managing a portfolio, etc. is beyond me.

But hey, that's just my .02

salesman · 04-01-2008, 04:43 AM

i'm not making that much money to need an advisor

NyLoS · 04-01-2008, 04:43 AM

1 financial advisor, 2 trusts and 2 accountants
they all make sure I will never make 7 figgures :-D

gornyhuy · 04-01-2008, 05:49 AM

Tax advisor.

slapass · 04-01-2008, 07:26 PM

Quote:

Originally Posted by Kevsh

I honestly think you came to the wrong place to ask this question. As I've found out there are more than a fair share of "know-it-alls" in the adult biz - They think that no one in the world is better capable of doing anything than they are.

The idea that a typical person should manage all of their own finances is ridiculous. Now, if you are a stock broker, etc. by trade, fine, but if you're peddling porn you should stick to peddling porn and let an expert do what they do best. Why on earth you'd want to spend your time managing a portfolio, etc. is beyond me.

But hey, that's just my .02

Very few managers beat the Sp500 so just buy a fund with low expenses that mirrors the sp500 and go golfing.

MikeSmoke · 04-01-2008, 07:38 PM

Financial advisor, accountant and insurance agent who specializes in investment vehicles.

I added the financial advisor after talking to my brother (who has a LOT of money), whose financial advisor usually gets him well-over-market returns, but only lost about 2-3 % in the dot-com crash. That convinced me to use HIS guy (who I'm sure only took me on because my brother is a wealthy client lol). Before the market went south recently I was making 8-10% a year, and so far since the "correction" I'm still about even. Works for me

He also consults with my accountant and insurance agent to give his input on what they're doing, and the final "thumbs up" or "thumbs down" on the more exotic and creative plans they come up with. It's worked out very well, so far at least

farkedup · 04-02-2008, 06:00 PM

classic cars are a nice place to put some cash ;) especially when you can buy in person with a suitcase full of cash LOL I've bought quite a few different cars just to do some work on them and flip after driving them for a while.

I like the cheaper ones like when I picked up a '75 vette, did some work on it and sold it for more than twice what I paid 3mnths later after driving it daily all summer.

slapass · 04-02-2008, 06:30 PM

Quote:

Originally Posted by farkedup

classic cars are a nice place to put some cash ;) especially when you can buy in person with a suitcase full of cash LOL I've bought quite a few different cars just to do some work on them and flip after driving them for a while.

I like the cheaper ones like when I picked up a '75 vette, did some work on it and sold it for more than twice what I paid 3mnths later after driving it daily all summer.

Real estate is the same for me. Do some leg work before you buy and it is hard for it not to work out.

snaker · 04-02-2008, 07:43 PM

funny i was supposed to meet with an advisor today, but canceld

V_RocKs · 04-02-2008, 08:28 PM

More than a financial adviser I would suggest a tax accountant. Someone who specializes in making your 7 figure income look like 6 figures and does it all legal.

03-31-2008, 05:09 PM	#1
slapass Too lazy to set a custom title Join Date: Nov 2002 Location: Earth Posts: 14,622	How many people have financial advisors??? You always hear people say "if you are really making that kind of money you would have a tax accountant and a financial adviser". And it is said in an all knowing way. I know lots (ok not lots but some) people who have made high 6 figures and low 7 figures for a few years and only one has ever mentioned a financial adviser. I am not even sure what you would expect the guy to do for you? Pick stocks? Pick your mutual funds? Open a money market? Seriously wtf is that all about?

03-31-2008, 05:17 PM	#2
Perfect Andi Confirmed User Join Date: Mar 2008 Location: San Francisco Posts: 114	Well, definitely guide your finances, though just be careful- they make money from stocks they refer. Still, they can show you long and short ways to not only manage your money, but have it increase over time, which is the real key. I've had one since I was 17. __________________ Andi Make more money now! GoldPerfect presents PerfectVideo.com Andi ICQ 372808064

03-31-2008, 05:19 PM	#3
Iron Fist Too lazy to set a custom title Join Date: Dec 2006 Posts: 23,400	If i was making 6 digits a year.. I don't know i'd be here at all.. other than a lurker.. __________________ i like waffles

03-31-2008, 09:04 PM	#7
beemk CLICK HERE Industry Role: Join Date: Jan 2002 Posts: 20,829	i would never hire one, i dont know much about them, but you would think if they were so good at it why would they need to work managing other peoples money and not have a ton of their own? __________________ I host with Vacares

03-31-2008, 09:32 PM	#9
Dagwolf President of Canada Join Date: Sep 2003 Location: Leaving Hell, Entering Limbo Posts: 23,141	I resent being advised. __________________ Sleep well, and dream of large women.

03-31-2008, 05:37 PM	#4
Herb Kornfield Is on the 1 Industry Role: Join Date: Sep 2002 Location: Philly Burbs Posts: 4,996	negative and over 6 figs income .... Net.

03-31-2008, 09:24 PM	#8
Sosa In Tushy Land Join Date: Oct 2002 Location: Nebraska Posts: 40,149	I have a person within my accounting firm that handles my IRA etc. They are doing a good job so far with the market. Works with my accountant hand in hand, so it works out well.

03-31-2008, 10:07 PM	#10
woj <&(©¿©)&> Industry Role: Join Date: Jul 2002 Location: Chicago Posts: 47,882	They are only good when you are completely clueless about finances... but that's like 95% of the people in the US, so "financial advisor" business has got to be booming... __________________ Custom Software Development, email: woj#at#wojfun#.#com to discuss details or skype: wojl2000 or gchat: wojfun or telegram: wojl2000 Affiliate program tools: Hosted Galleries Manager Banner Manager Video Manager Wordpress Affiliate Plugin Pic/Movie of the Day Fansign Generator Zip Manager Last edited by woj; 03-31-2008 at 10:08 PM..

03-31-2008, 10:17 PM	#11
farkedup Confirmed User Join Date: Nov 2007 Location: Kalamazoo, MI Posts: 2,490	I suggest any business using an accountant, however the financial advisor my accountant sent me to didn't really help.... basically you're just paying somebody to tell you shit you should already know. He gave me info on like 10 different places for mutual funds, some info on retirement funds and other things like that but if you're making that kind of bank your best bet is offshore corporations and accounts, NOT using the system here in the US. My accountant works as an accountant at a major pharmaceutical company around here and he runs all their money through a corporation in Spain simply because trade lows are loose with Spain so it makes the lower taxation over there along with freely flowing money back and forth. The big time shit you'll want to go through Spain but us lil guys can pick an island basically ;) No way to get an instant 40%+ return other than dodging paying taxes on it.... __________________ -- QUOTE ME IT MAKES ME FEEL SPECIAL --

04-01-2008, 01:19 AM	#13
fluffygrrl So Fucking Banned Join Date: May 2006 Posts: 2,187	I know a couple of financial advisors, what their day mostly comes down to is bellow : "You see Mr. Honkypecker, buying a 3rd home is NOT a good investment, especially if you're going to buy it on credit, don't intend to live there and don't know much about the real estate market." (all through 2006) "Cars are very expensive pieces of machinery. They cost a lot to maintain, and while they provide undeniable status symbol benefits, the more traditional way to advertise, mostly preferred by established companies, are ad campaigns and billboard space." etc etc. Basically it's holding the hand of the clueless, explaining to them why you don't want to buy stuff you don't need, how to use and when to avoid credit, stuff like that. And you wouldn't believe it how many people actually benefit from it, and are thankful for it, a few years down the road.

04-01-2008, 01:24 AM	#14
flashfire ICQ 1 6 7 8 5 3 4 9 2 Join Date: Feb 2003 Posts: 13,098	If you are smart enough to make that kind of money you SHOULD be smart enough to manage it properly

04-01-2008, 01:37 AM	#15
Jens Van Assterdam The Dupre Pimp Join Date: Feb 2008 Location: Koh Samui Posts: 6,677	Got one since a couple of years. So many stuff you just cant know when you havent learned it... __________________ Read TOS for signature rules

04-01-2008, 04:37 AM	#17
Kevsh Confirmed User Join Date: Dec 2004 Location: TO Posts: 8,619	I honestly think you came to the wrong place to ask this question. As I've found out there are more than a fair share of "know-it-alls" in the adult biz - They think that no one in the world is better capable of doing anything than they are. The idea that a typical person should manage all of their own finances is ridiculous. Now, if you are a stock broker, etc. by trade, fine, but if you're peddling porn you should stick to peddling porn and let an expert do what they do best. Why on earth you'd want to spend your time managing a portfolio, etc. is beyond me. But hey, that's just my .02

04-01-2008, 04:43 AM	#18
salesman Confirmed User Join Date: Mar 2003 Posts: 1,534	i'm not making that much money to need an advisor __________________ Launched new sites in different niches with exclusive content: PublicSexAdventures.com (Reality, teens!), StudentSexFriends.com (Teens), HentaiNiches.com (Hentai), MyPickupGirls.com (Reality, teens), MyStudioVideo.com (amateur, teens, voyeur), TeensHomePorn.com (Teens, voyeur), StudentSexParties.com (Reality, Teens, Group), etc.. FULL LIST OF SITES HERE >> Amazing Ratio \| High % of Rebills \| Bi-Monthly Payments (also to E-Passporte), Ton's of FHG's and other promo.tools

04-01-2008, 04:43 AM	#19
NyLoS Confirmed User Join Date: Apr 2001 Location: Amsterdam Posts: 724	1 financial advisor, 2 trusts and 2 accountants they all make sure I will never make 7 figgures :-D

04-01-2008, 05:49 AM	#20
gornyhuy Chafed. Join Date: May 2002 Location: Face Down in Pussy Posts: 18,041	Tax advisor. __________________ icq:159548293

04-01-2008, 07:38 PM	#22
MikeSmoke Confirmed User Join Date: Nov 2002 Location: SoCal Posts: 3,233	Financial advisor, accountant and insurance agent who specializes in investment vehicles. I added the financial advisor after talking to my brother (who has a LOT of money), whose financial advisor usually gets him well-over-market returns, but only lost about 2-3 % in the dot-com crash. That convinced me to use HIS guy (who I'm sure only took me on because my brother is a wealthy client lol). Before the market went south recently I was making 8-10% a year, and so far since the "correction" I'm still about even. Works for me He also consults with my accountant and insurance agent to give his input on what they're doing, and the final "thumbs up" or "thumbs down" on the more exotic and creative plans they come up with. It's worked out very well, so far at least __________________ icq: 541-739-92

04-02-2008, 06:00 PM	#23
farkedup Confirmed User Join Date: Nov 2007 Location: Kalamazoo, MI Posts: 2,490	classic cars are a nice place to put some cash ;) especially when you can buy in person with a suitcase full of cash LOL I've bought quite a few different cars just to do some work on them and flip after driving them for a while. I like the cheaper ones like when I picked up a '75 vette, did some work on it and sold it for more than twice what I paid 3mnths later after driving it daily all summer. __________________ -- QUOTE ME IT MAKES ME FEEL SPECIAL --

04-02-2008, 07:43 PM	#25
snaker Confirmed User Industry Role: Join Date: Mar 2005 Posts: 1,281	funny i was supposed to meet with an advisor today, but canceld __________________ My Best Sponsors: Naughty Revenue \| Get Score Cash \| Thick Cash

04-02-2008, 08:28 PM	#26
V_RocKs Damn Right I Kiss Ass! Industry Role: Join Date: Dec 2003 Location: Cowtown, USA Posts: 32,409	More than a financial adviser I would suggest a tax accountant. Someone who specializes in making your 7 figure income look like 6 figures and does it all legal.