a financial advisers recommendation

[ExecConsult]

I only found this topic because I did a search on "taxes" to see if anyone had questions I could help answer. This is not the usual sort of post I'd jump into. However, I have a few thoughts I might offer. First allow me to introduce myself. My name is Mark and I'm an estate planning attorney. (See my profile for an abbreviated disclaimer.)

I am usually very pleased with the friendly responses that people receive as long as they are trying to help. The responses I saw here surprised me a little. It is obvious that black77 was only trying to help even though he must have known that what he said would be unpopular. I am grateful for his courage. I hope that no one feels I am bashing them here. That is not my intent. I just want to bring a different perspective.

I have been advising people on dinar related stuff for a long time. I hope the fact that I am advising them on taxes, estate planning, and asset protection instead of just being super wealthy and ignoring them doesn't make them feel my advice is somehow no longer wisdom just because I am teaching instead of doing. In my line of work, I know more financial advisers than I know attorneys (I am working with people's financial planning and I don't go to court anymore.) Usually I find the advice of the financial advisers I work with to be sound. They are a valuable resource and I hope that all of us will rely upon sound financial advice once there is an RV and you have money to manage. However, in divining the future of this investment, whether I know what I am talking about or a financial adviser knows what he is talking about does not really matter. Neither of us were trained on the structure of an Iraqi RV.

What this breaks down to is one person's educated opinion (RD first then RV) vs. the opinions (some educated and some simply hopeful) of people who frequent the dinar forums (RV without RD). I'm sure that the advice that black77 received seemed reasonable to him. Truthfully each of must realize that we are taking a gamble of sorts. The risk is small and the potential rewards are huge so we are willing to jump in. I can not fault black77 for taking a little different gamble. Does his adviser know something that we haven't been hearing in your little myopic world of dinar RV land? Instead of attacking the messenger, I'd like to know why the financial adviser thought there would be and RD first and then compare that to the information that says RV first or at the same time and see where I end up.

It might seem like I am thinking worst case scenario a little. That is because I am. That is my job; think of the worst case scenario and plan around it. What do I think will happen? I really don't know. As many have pointed out, none of us has had an experience that would tell us what to expect going forward in this speculative investment. The best any of us can do is get the best information that we can, share it, and receive the information that others share - then we decide for ourselves what to believe (at least for the moment). That process should not end until this is over (or you are worn out and just can't handle the roller coaster anymore).

I am not suggesting that the adviser that black77 sat with is correct. In fact I see a couple of problems with it myself. However, where there is information I want it. If it is information that might tell me I am wrong I feel it is even more important to look at. Each of us has been burned at some time in our lives by only looking at the information that agreed with us and ignoring or even discrediting the rest. So for what it is worth I gave black77 a positive for trying to help even when it is unpopular and if you are out there black77, I'd like to know why your financial adviser thought RD first. It may be the same stuff I've already heard, but I'd like to have the opportunity to see for myself.

Best of Blessings,

Mark

[jackster]

You're response may be partially true. I know of at least four Fin/Adv that i've dealt with over years whose combined wealth is less than mine. So i ask you who should be asking/advising who? Experience and a degree are nice but does'nt necessarily equate to sucess.

You're right. It does not always equate to success.

I think many in here would agree that teachers in our public school system could be a good example of this. I believe every teacher is required to have a teacher's certificate. And they get this sometime after acquiring a degree, maybe in education, and a short 'internship'.

I hated the majority of my teachers. But what did I know? I was just a kid. Some of my teachers were very good at what they did. Some teachers were there because it was a job. However, even the bad teachers, in general, knew more than myself.

Doctors. Why do we get a second opinion? Because the first doctor is stupid? We get enough doctors to look at our condition, we either find a doctor that can diagnose our condition properly or we get a consensus. They still might get it wrong. But we made a smart decision by asking 4 doctors, instead of 4 plumbers about our health.

Do you seek financial advise from those 4 that you mentioned? Probably not. Hopefully, you kept searching for someone that was worthy of you. Also, those financial advisers might be good at one aspect of their profession, but one that has many clients needed to be a good salesperson.

If someone wants to be a successful electrical engineer, then he must first get an electrical engineering degree. After that, it's up to him/her to become successful in their field. Can't be an engineer without a degree.

I made the mistake of helping a plumber with this electrical work. I got electrocuted. Then I had an electrician repair the plumbing on my dishwasher. It flooded the kitchen.

I hear your point, but it doesn't touch on the necessity for people to seek educated and experienced advise in any matter. If your car needs an oil change, either you do because its cheaper and you know how, or you take it to Jiffy Lube, because it's cleaner and faster. You wouldn't ask the kid at KFC just because he deals with grease that they cook the food in.

BTW, would you mind telling me what your vocation/occupation is or was?

[caz1104]

You're right. It does not always equate to success.

I think many in here would agree that teachers in our public school system could be a good example of this. I believe every teacher is required to have a teacher's certificate. And they get this sometime after acquiring a degree, maybe in education, and a short 'internship'.

I hated the majority of my teachers. But what did I know? I was just a kid. Some of my teachers were very good at what they did. Some teachers were there because it was a job. However, even the bad teachers, in general, knew more than myself.

Doctors. Why do we get a second opinion? Because the first doctor is stupid? We get enough doctors to look at our condition, we either find a doctor that can diagnose our condition properly or we get a consensus. They still might get it wrong. But we made a smart decision by asking 4 doctors, instead of 4 plumbers about our health.

Do you seek financial advise from those 4 that you mentioned? Probably not. Hopefully, you kept searching for someone that was worthy of you. Also, those financial advisers might be good at one aspect of their profession, but one that has many clients needed to be a good salesperson.

If someone wants to be a successful electrical engineer, then he must first get an electrical engineering degree. After that, it's up to him/her to become successful in their field. Can't be an engineer without a degree.

I made the mistake of helping a plumber with this electrical work. I got electrocuted. Then I had an electrician repair the plumbing on my dishwasher. It flooded the kitchen.

I hear your point, but it doesn't touch on the necessity for people to seek educated and experienced advise in any matter. If your car needs an oil change, either you do because its cheaper and you know how, or you take it to Jiffy Lube, because it's cleaner and faster. You wouldn't ask the kid at KFC just because he deals with grease that they cook the food in.

BTW, would you mind telling me what your vocation/occupation is or was?

My partners and I own 10 business(wide variety) in the ATL area. Our expertise & educational background also varies,but our focus is on trends,short term as well as long term. Thats a vague answer I know but its the best I'll give.

[cris]

Hey Cris,,How you been, its great to see you, Hows Arizona?

N. Az is cloudy and finally cooling off, hoping for some good rain soon

Hows the church going? Gotta get your ducks in a roll....RV is right around

the corner, buddy

[Carrello]

The financial advisor was referred to me by the branch manager at WF. He reviewed my portfolio and gave me his recommendations. Thats all there is to it. I found it to be sound advice.....I would also like to say: welcome home, Sarge and thank you for your service to our country....De Opresso Libre

Well, you comments, especially regarding Sarge, show that you know nothing at all about us (our friend Sarge has been home for decades and passed a few months ago... a friend has stepped in under his name). Yes, us. We are a tough bunch, a smart bunch, that does our research and analysis, and debates it, and if you knew us, you would know that. Why would you come here with that message? Saving people you don't know? Admirable. Saving us from an investment that even if it did go belly up, we would get almost all of our money back?

You should have known all this before you threw out your net, or gaffe. But then again, the pay was probably all the same, wasn't it?

We don't need to be saved. We are perfectly fine. Obviously you are not and I am sorry for anyone that follows your lead.

Adios Gringo.

[jackster]

My partners and I own 10 business(wide variety) in the ATL area. Our expertise & educational background also varies,but our focus is on trends,short term as well as long term. Thats a vague answer I know but its the best I'll give.

10 businesses? Cool.

Yes, a vague answer. But that's information that belongs to you. I'm fine with that.

[doctor robbins]

Truthfully each of must realize that we are taking a gamble of sorts. The risk is small and the potential rewards are huge so we are willing to jump in.

The risk is considerable, and the history of redenominations of hyperinflated currencies suggests that the potential rewards are minimal.

[Mo Money]

I got into this a year and a half ago. Didnt know anything about it, an aquaintance hipped me to it. Made a modest Dinar purchase. After researching,and seeing many suppossed "RV dates", on a monthly basis going back for years...decided I was best served to put my dinar in a sock drawer and forget about it. I come here every month or two,just checking whats up. Its clear to me MANY here just do not want to face the fact, WE ..MAY...have purchased some "magic beans" that will not grow a "magic bean stalk". Black77 was just letting you know what HE did. And the advice HE received. The paranoia here is incredible. black77 may be a "pumper" to get you all to sell back your dinar ? lololol MY GOD...GET A GRIP !!

[SgtFuryUSCZ]

***///

Thank you, CARRELLO.

Boy needs to learn to stand on his own two feet or live to rue the day he let someone else 'turn in his homework'..!

[ayrnay22]

I love how everyone does there homework and research means reads news about politics in iraq and listens only to the opinións of people that reassure a straight up rv when a rd is possible its speculation and if a financial advisor doesnt make millions then he isnt worth talking to i guess everyone here that believes it will rv is better suited to give black advise this site is going nowhere lately and i find myself in the lop and off topic forum more often no more okie i. rumors section so people start bashing anyone that isnt pro rv i also miss dinar thug he doesnt post as often i hope it rvs at even .05 cents but if it lops then it is what it is people need to grow up and be rational for a moment

[MovieMaker]

Good Job Mark, thank you 77!

[Rayzur]

Ditto.... Thanks much Mark... great words of wisdom nice perspective.... thanks

[uncirculd]

I wonder, did you sell your dinars to your financial adviser?

[rockfl9]

IF a registered FA, would be conflict of interest !

[caz1104]

10 businesses? Cool.

Yes, a vague answer. But that's information that belongs to you. I'm fine with that.

Thanks,and always looking to grow. Have a good 4th

[jackster]

Thanks,and always looking to grow. Have a good 4th

Thank you. We will enjoy the 4th, but without fireworks. We've had more than our share of fire.

[caz1104]

Thank you. We will enjoy the 4th, but without fireworks. We've had more than our share of fire.

Sorry to hear that,be safe. If nothing else have a nice steak on me.

[respectron]

JMHO!!!

A recommendation is basically an opinion and if you honestly believe in that opinion and are willing to except the consequences, then by all means its your choice. The heading reads in part "recommendation" not a fact or a rule that must be followed! Everyone here is either invested in this because they are knowledgable about Iraq and believes in a profit or has been told by someone elses opinion that the IQD is a good bet and you should buy, as I am guilty of . I don't regret it as I have learned more about another country outside the scope of their currency that I feel like I won in knowledge even if I lose a little money (and love making friends on DV!). Anyways alot of seasoned members have heard it all and are smart enough to know what path they want to follow and usually take opinions as just opinions not reality because someone else says it is unless they have irrefutable facts to back it up.

As I said I respect your input and it does value debate and thats what we all do best, in one way or another. It is the checks and balances of this investment, but when you use key words like reality then that opens a whole can of rebuttal and thats when you need the thick skin

Sorry to hear that,be safe. If nothing else have a nice steak on me.

Ditto jackster!

Edited July 3, 2012 by respectron