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‘I don’t trust my financial guy.’ I’m 67 and trying to live on $2.2K-a-month Social Security. I have $500K with an adviser, who charges 2%, but last year the return was 26%. What’s my move?

MarketWatch
Summary
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71% Informative

I'm 67 and trying to live on $ 2.2K -a-month Social Security .

I rolled over a roughly $500,000 IRA to him without really digesting how much his 2% AUM fee would add up to.

He invested in about six different funds, Class A, which cost a lot up front.

If you don't trust your adviser, get out of this situation.

Going the robo route is typically cheaper than going the human route.

If you want to talk through your investments with someone, a human adviser can be a great option.

CFPs must uphold a fiduciary duty and put the best interests of their clients ahead of their own.

VR Score

65

Informative language

58

Neutral language

38

Article tone

informal

Language

English

Language complexity

39

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not offensive

Hate speech

not hateful

Attention-grabbing headline

not detected

Known propaganda techniques

not detected

Time-value

long-living

External references

11

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