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re: Northwestern Mutual - Should I?
Posted on 8/19/14 at 6:53 am to baybeefeetz
Posted on 8/19/14 at 6:53 am to baybeefeetz
I'm pretty certain of a few things...
* anything other than most basic term insurance is a rip off
* NW Mutual funds will get hammered by a very basic ETF (S&P or something) over the long term due to their exorbitant fees
* Spend a few hours a week for a few months learning about retirement planning/investing and you'll be far ahead of the game in 2-3 months
Dump the NW guy and do it yourself. someone like Fidelity will help you do all of the things you need for fraction of the fees.
If NW nicks you for only 1%, and matches market performance which I'd bet they won't, over 30 years with a 100k initial investment, you'll be out $250,000 !
investment 100,000 100,000
return 7% 8%
years 30 30
future value $761,226 $1,006,266
good luck
* anything other than most basic term insurance is a rip off
* NW Mutual funds will get hammered by a very basic ETF (S&P or something) over the long term due to their exorbitant fees
* Spend a few hours a week for a few months learning about retirement planning/investing and you'll be far ahead of the game in 2-3 months
Dump the NW guy and do it yourself. someone like Fidelity will help you do all of the things you need for fraction of the fees.
If NW nicks you for only 1%, and matches market performance which I'd bet they won't, over 30 years with a 100k initial investment, you'll be out $250,000 !
investment 100,000 100,000
return 7% 8%
years 30 30
future value $761,226 $1,006,266
good luck
3
Posted on 8/19/14 at 8:37 am to Ole War Skule
quote:
Dump the NW guy and do it yourself. someone like Fidelity will help you do all of the things you need for fraction of the fees.
If NW nicks you for only 1%, and matches market performance which I'd bet they won't, over 30 years with a 100k initial investment, you'll be out $250,000 !
investment 100,000 100,000
return 7% 8%
years 30 30
future value $761,226 $1,006,266
good luck
This. Absolutely this.
Posted on 8/19/14 at 8:59 am to Ole War Skule
if an investment guy can't beat the index funds by more than his fee, an investment guy is completely useless.
This is why it's so important to get a good investment person, and why there are so few of them out there.
This is why it's so important to get a good investment person, and why there are so few of them out there.
Posted on 8/19/14 at 9:09 am to Ole War Skule
quote:
* NW Mutual funds will get hammered by a very basic ETF (S&P or something) over the long term due to their exorbitant fees
They do not have their own funds, so I don't know what point you are trying to make here. You open an IRA at Fidelity, you are doing the same thing at a place like Northwestern. They may have access to some different mutual funds, but there is no "northwestern fund".
quote:
Dump the NW guy and do it yourself. someone like Fidelity will help you do all of the things you need for fraction of the fees.
An Adviser should be able to outpace basic etf's, including fee's (if we are talking about a fee based adviser). Curious, but what Fee's does Northwestern have that Fidelity doesn't have (honest question).
This post was edited on 8/19/14 at 9:10 am
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