Retirement and income investment accounts

[Shrek]

Do you prefer handling your own online or through a local investment office?

When I left my industrial sector I rolled my company retirement savings over to a IRA with the local investment firm where I do my active income trading and I prefer being able to go into the office to DCA my mutual fund , buy stock, sell stock or take some income out to augment my company pension when needed.

Although I still do my research and discuss investment concerns with the now retired adviser I started out with in 1982, I like having the current young guy running the office to bounce my thoughts off of while trying to grow my small investment holdings nest egg and emergency fund while at the same time keeping enough safe for when I am officially a way deep into the golden years retiree.

Sure I have to pay a few fees for the privilege of being able to walk into the local office for a face to face when I want it but dealing with online or over the phone cheaper firms leaves me thinking of the movie Boiler Room and the Bernie Madoff Ponzi, so I stick to the old fashion approach.

Another thing I like about dealing with a local office firm is when my tax guy does my return if there is a question about my investment accounts , my accountant knows my adviser and can quickly call and tell him exactly what he needs to finish preparing my return.

So what are your preferences? Walk in offices and face to face meets for a fee or lower cost automated?

[Ramblin Wreck]

Well, I let the state's Teacher's Retirement System do all the work on the pension, and that suits me fine. I lost money every time I invested in stocks and made very little with bonds. For my other investments (cattle and timber land), I personally watch them (and their respective markets) closely. There are goats also, but they are my loss leader...and aggravating to no end.

[Micheal]

My brokerage account is "on-line" although they are only an 800 number or e-mail away. They also have local offices 60 miles west or 80+ miles east for a face-to-face if needed/wanted.

Many, many, years ago I dealt with a local broker and found that with doing my own research etc he wasn't any "smarter" nor knowledgeable than I was........ specially not for the added costs.
Guess that's the advanage of the internet, I can get as detailed as I care to where as the broker has to know a little about everything and usually any detailed info given out is more or less "boiler-plate" from somewhere else....

[Bentley]

One word. " Vanguard".

Low cost funds, and the ability to buy/sell equities at any time.

This works well for me

B

[agmantoo]

No one knows my risk taking capability and my financial goals as well as I know mine. Therefore, IMO no one is more qualified to guide what I do for myself than I am.
I have been the executor a number of times for various decedents. I have witnessed what others did for these people. Each and every time the persons handling their affairs were only looking out for themselves. Professional investors rarely explained back end loads or even front end ones. Commissions were shared, finder fees paid, money was misappropriated and money was outright stolen. With the internet there are legitimate brokerage firms that allow individuals to handle their accounts themselves. Doing research and trading stocks and mutual funds is easy and swift. Positioning trades without requiring the personal attention of a private investor is just a matter on sitting down to a computer at any hour. Access to ones account for adding or withdrawing funds is straight forward and prompt.
Before using an invester just stop to think that he is most likely working to a larger outfit. If he was as capable as he would lead you to believe he would be working for himself managing his own assets.

Most folks work 40 plus hours a week for many years. Why is it that they cannot spend some time each week managing that income?

[MoonRiver]

My accounts are all online accounts. I subscribe to a newsletter and use their recommendations for most of my stock purchases.