The investerati has convinced the public that if you save a few extra dollars or come into some money, that you need to 'invest' it in the stock market. This is simply not true, there is nothing wrong with a nice safe CD or money market at your local bank.
Having said that, if you have decided to invest, do yourself a favor and invest on your own and save a fortune.
The investment community are masters of marketing and have you convinced that you cannot invest on your own.
Here's the scoop. 91% of money managers cannot beat the S&P 500 and neither can your stockbroker of financial advisor.
How do I know? I was a great salesman and convinced alot of people to take on more risk in stocks and got paid well for doing it. The dirty little secret is that you can do the same thing yourself and save alot of money, hundreds of thousands over a lifetime!
Most stockbrokers or financial advisors are genuinely good guys interested in your accounts well-being. The problem is that stockbrokers (and thus the brokerage firm they represent) get paid by assets under their control and charge you a management fee of 1%-5% to do nothing more than you can do. Value added, are you kidding? How did you do over the last year?
Stay tuned for exactly what to do.