Re: Do you understand your personal finances?
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No different than a doctor, lawyer, or acc't. And yet people famously don't shop around for the lowest-priced heart surgeon, or defense attorney.
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Well, I thinks it's quite a bit different than that.
My point was just that most people aren't going to be able to distinguish between professionals who can help them and professionals who are going to screw them. I mean, you seem like an honorable guy to me, but you know that a nice chunk of the cash on Wall Street comes from steering folks into loaded funds w/ ridiculous expense ratios.
That's all I'm saying, that a lot of people of people (assets under 500k, say) would be better off with 100% of their funds in VFINX rather than looking for professional advice. (And of course, I'm not saying that is the best solution, just an improvement for many of them.)
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