You said, "The plain and simple of it is - if people could get wealthy on their own, everyone would be wealthy, but as you know, that is not the case." Since we know the second part is false, everyone is not wealthy, that implies that the first part, people can get wealthy on their own, is false. I simply took it to the next logical step that you were not only implying, but stated - that "I believe in order for non-investment professionals to get wealthy, they need an advisor."
"Never did I say the "individual investor has NO chance of getting wealthy on their own"". But in a previous post, you stated "I believe in order for non-investment professionals to get wealthy, they need an advisor." I'm not misunderstanding or ignoring anything, just quoting. How do you read these 2 quotes? Just because I chose to use the Chilton's manual for my 69 Camaro and not go to a mechanic doesn't mean the car won't get fixed. It may take more time and maybe even more money, but what my time is worth is up to me.
"What I am saying is that if everyone understood how to reach their goals (ie. lead a comfortable retirement without any concern over income, or any other goal you may dream up) they would do it! Now please respond and tell me if you beleive that is a correct statement...then tell me why people don't do it." No I don't think this is correct. Many people understand, many don't, what it would take to reach a certain goal, but are not willing to make the sacrifices it would take to get there. Right or wrong, this is their decision. I knew what it would take for me to get a 4.0 in college, I just didn't feel the requirement were worth it.
Do you use a FA? Just because you are in the industry, doesn't exempt you from your own advice. Or are you able to remove all emotion from your own situation and make all the right moves all the time? If you believe that you can do this but no one else can then the pompous shoe fits. Being in the industry doesn't make you any smarter than the rest of us.
I do believe that the level of financial education in this country is pathetic. I received virtually no monetary training from my parents or schools. There was an article in the local Phoenix paper that showed the majority of high school students thought the best return they could get on their money was in a checking account. How wrong is that? If you need to hire an advisor to get these things explained, then please do. Do whatever it takes to understand your financial situation because if you don't then no one else will.
Why I am I from Mars simply because I don't agree with you? I have stated repeatedly that there are many good FPs and many people should use them. It is not a requirement to achieve the end goal, whatever that may be.
There are people who are wealthy and got there by using a FA and there are people who got there themselves. There are also those who got to a certain wealth position and then started using an advisor. Why do you refuse to believe that the "real world" is any different?
[This message has been edited by bwilk (edited November 30, 2001).]