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Hi Sean, My financial advisor recommended that both my wife and I open a Roth IRA. Would you recommend we use one of our positions or some other method to invest with? Thanks, Paul T.

First off, I don't want to get in the way of any plan that you and your financial advisor have lined out for your specific goals and future. My advice goes out to the masses with varying ages, risk tolerances, goals, years until retirement, etc. But that advisor can get more specific about your particular situation/goals. So I don't want to conflict with that. But would our stocks be suitable/fine for a Roth IRA. I think so. But you can always consult them to see what they think as well. We generally buy large companies, but always value companies that are fundamentally sound. Hope that helps. But check to see what they say about your specific situation since I'm not allowed to be a personal financial advisor, one-on-one to someone, in my current capacity. I prefer my current situation because it allows me to help more people and for cheaper, individually. But there's always a place for a personal financial advisor too.


My initial reason for visiting with an advisor was to see if my finances were on the right path. He stated for my age and the number of years I have left to work that I was right where I needed to be. I showed him our portfolio and he was impressed. The only thing he recommended was the Roth IRA but we did talk about how I should invest in it. I've decided against using his services since I appear to be headed in the right direction and frankly, you've served me well as an adviser. I just didn't know how or what method I should use to invest within the Roth. Greatly appreciate the response though. PT


I rely on Sean's advice in both my wife's and my IRA's Traditional and Roth as well as my investment accounts. After all the bad advice I had gotten before, I don't trust anyone else.


I would agree with the notion that in the world of personal financial advisors, there is a wide diversity of philosophies regarding money. Inevitably you will find some that disagree with your way of thinking, or with Sean's way of thinking, or both. One has to be judicious in who you listen to. As SafetyPaul said, you have to watch out for those who would give you advice that turns out bad (I've found the same to be true of any advisor/counselor - pastors included)


There is a lot of bad advice out there because just because you get a financial license doesn't mean you know how to value stocks, etc. And the industry focuses more on "assets in and asset retention" the most. Its unfortunate.


You're welcome, Paul. I'm glad I've been helpful.