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Originally posted by: Roulette Man
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You make the statement that the study is meaningless and give nothing to back up what you said. It is totally relevant and drop the Edelman thing, because many others advocate what he does. Sheesh, you can't be this naive.
Originally posted by: Roulette Man
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Originally posted by: billryan
That study is meaningless to this conversation as It doesn't even look at the alternative I suggested. It compares someone who puts cash down on a house to someone who pays their mortgage off normally. Where did I suggest either?
What I recommended was taking a 15 year mortgage and trying to pay it off in ten.
Edelman awards are based on the size of the assists he manages, not on the returns his customers receive. It's a shame Forbes doesn't consider client retention as being as important as new clients acquired. I guess they think Citibank and Chase are the best banks since they are the biggest.
My sister became a client of his after attending a seminar Ric( call me Ric) put on , offering free steak dinners and copies of his book. Her husband and his family had just sold their family business and they had a chunk of change as well as about $300,000 annual income. After becoming clients, they were assigned a senior advisor to work with, and that advisor had a dozen or so associates that handled the day to day business. While I'm sure Ric may work with a few clients, my sister's main contact was a kid just out of school, who left to be replaced by another newbie. Ric was always a phone call away. Pose a question and in hours you'd get a reply- Ric says this, Ric says that.
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You make the statement that the study is meaningless and give nothing to back up what you said. It is totally relevant and drop the Edelman thing, because many others advocate what he does. Sheesh, you can't be this naive.
The study doesn't address what I proposed. Take out a 15 year loan and do your best to pay it down in ten. So, for purpose of this discussion it's meaningless.
Seeing how I called compound interest the most powerful force in the Universe, I'd say the point was addressed. One of biggest regrets with one of my biggest assets is they don't compound. They clear about 30% a year but thereon compound.