Do you understand your personal finances?

[spider]

[ QUOTE ]
Again, I feel this is not good advice. Bad advice is not much of an improvement over bad advice with high fees.

[/ QUOTE ]

Naj, calling low cost index funds "bad" is going a bit far.

I get your sentiment but this is just not how things are for many people. Forget the doctors & lawyers and think about middle class working people which are a much bigger part of the population. I can't come up with a precise number, but for sure more than 50% of all people out there with saving > 10k would get better returns going 100% VFINX over whatever they are doing now. Hell, as an example look at some of Metetron's posts on the finance board where he won't even concede that his bond funds should go in his non-taxable account rather than taxable. How do you rank him compared to the general population?

[ QUOTE ]
Optimal low-cost, low-effort would be to get a recommendation from a local, fee-only fin'l advisor. Talk to the guy twice a year, pay $25-100/hr or whatever, and get a complete fin'l plan that incorporates all aspect of your life, or investing life.

[/ QUOTE ]

Absolutely, this is great advice. But how many people are doing this?