In my life I have always saved money. I grew up in a family, not poor, not rich, we had everything we needed but there was no luxury. I learned at a very young age to save if I wanted something. And I thank my parents for that lesson, 'cause that's why I can live the life I do now.
In my youth there were few if any credit cards, so my motto has always been "save first, spend later". Unlike today I understand, where people overspend left, right and center.
So I had to laugh today. Since about eight? years I have changed to a conservative bank. I have had many banks in many countries in my life, where the advisors have been dead wrong and cost me a lot of money. I have also had a family member giving me advice what shares, funds and whatsit to buy, but since some years I have taken over responsibility for my own finances completely. Which I probably should've done earlier.
Had a meeting with my bank today. It wasn't because I requested it, it was because they called me and my new "advisor" wanted to meet with me. Ok, fine with me, I could waste an hour if that's what they wanted.
I have no secrets when it comes to my finances, so were completely open. But here comes the laughing bit. No, I don't want any financial advice, 'cause every time I trust somebody else it turns out to be a bad idea. Every time I trust my instinct, it has always given a better return. And no, I don't need to hear your background and about your career, done it, been there and so forth. And I really question why there were two of you? The bank I have chosen to care for my money should not waste their time on a small time investor like me.
The problem is, I cannot think of another bank which would be better, and if I have to spend/waste an hour a year telling them about my investment strategy, I think I can live with that.
PS. They gave me a whole folder with papers about my finances (like I can't see that on internet banking whenever I want) to be stored and hopefully forgotten about. And another tree died.
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2 comments:
so the question is, why do you need a bank at all to manage your investments? Couldn't you just do it yourself? (sounds like that's more or less what you are doing)
B
Well I need a bank, since I believe that storing cash under the mattress is a bit oldfashioned and gives no return, but I certainly don't need the bank to manage my portfolio. That I do myself. But it seems to be their policy to review customers once in a while. I guess they want to make sure that I can afford the mortgage they've so kindly given me.
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