A GFC reader sent me the following message about investing for the first time with his new financial advisor. Here's what he asked:
Now I left work and was told I needed to roll over my 401k. Not knowing what to do I asked my CPA, he told me to get a financial planer/adviser like Edward Jones or something on that line. Now it looks like and I am reminded it was a bad mistake. It cost me to get in and for the 3 months they have invested my money, it has lost money. Did I make a BIG mistake?
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So did he get screwed? Here's what I had to say:
Was I too nice?