Ric Edelman retiring in the fall

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BeachPerson
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Ric Edelman retiring in the fall

Post by BeachPerson »

Ric Edelman stepping down
According to a statement the company released Monday afternoon, Edelman will stay on as a strategic adviser, a board member and the firm’s largest individual shareholder. Currently, Edelman serves as the firm’s chairman of financial education and client experience.
I catch Ric Edelman every week.

What will that mean for his firm???
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targetconfusion
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Re: Ric Edelman retiring in the fall

Post by targetconfusion »

2021 is a down year for Edelmans - Julian also hung it up in April.

https://twitter.com/edelman11/status/13 ... 2570170373

For our own personal finance journey, at least, both events have about the same significance.
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Re: Ric Edelman retiring in the fall

Post by iamblessed »

I liked his show a lot. A lot of good information on it.
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Re: Ric Edelman retiring in the fall

Post by nisiprius »

In 2009, Ric Edelman said that mutual funds were dinosaurs and that they would be gone in ten years (supplanted by ETFs). At year-end 2020, according to the Investment Company Institute, mutual funds collectively hold four times as much in assets as ETFs do.

In 2011, Ric Edelman said that Vanguard's low expense ratios on index funds were illusory and that Vanguard was (somehow) hiding fees of 1.4% per year. (He didn't explain, and nobody has ever figured out, why Vanguard index funds don't lag their indexes by 1.4%). Allan Roth called him on that and actually got him to issue some kind of non-retraction retraction. Two years later, in 2013, Edelman made the same claim again.
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bhsince87
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Re: Ric Edelman retiring in the fall

Post by bhsince87 »

He's 63. Seems like he's just practicing what he preached, and retiring on his own terms.
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Re: Ric Edelman retiring in the fall

Post by Bluce »

I think he is a jerk and won't miss him a bit. I used to listen to him regularly but got tired of his constant shouting and the hawking of his firm. He's just another in the long list of financial infomercials disguised as radio shows.

I've listened to his bizarre rationalizations probably three times as to why one should purposely hold debt, and it never made any sense to me.

Net worth = assets minus liabilities. My assets are my net worth, I have no debt. Sorry Ricky, I learned from my dad and have no regrets.
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TheDDC
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Re: Ric Edelman retiring in the fall

Post by TheDDC »

Won't really miss him, or his predictions. His "financial engines" are just running out of gas I guess.

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Re: Ric Edelman retiring in the fall

Post by denovo »

Oh, a thread on Ric Edelman. This is gonna be good.
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yules
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Re: Ric Edelman retiring in the fall

Post by yules »

BeachPerson wrote: Mon Jun 14, 2021 1:59 pm Ric Edelman stepping down
According to a statement the company released Monday afternoon, Edelman will stay on as a strategic adviser, a board member and the firm’s largest individual shareholder. Currently, Edelman serves as the firm’s chairman of financial education and client experience.
I catch Ric Edelman every week.

What will that mean for his firm???
Hopefully this means that no one else will get trapped in his Rick E Trust.

Yules
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Re: Ric Edelman retiring in the fall

Post by 123 »

The announcement includes the following: "As part of his stepping back from the company, Ric Edelman will also be giving up his weekly radio show, which he has hosted for 29 years. The final edition of The Ric Edelman Show will air during the fall, after which it will be renamed and feature a yet-to-be-identified host, the company stated."

It will be interesting to see who is selected to take over the weekly radio show. It seems to be their primary advertising vehicle so I would think they would have to bring a "name" in, they can't afford to be in the doldrums for a few years while a new talent blossoms.

I wonder who will take up the challenge, and potentially millions in compensation if successful. Will it be someone revered by Bogleheads who goes over to the "dark side"?
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Re: Ric Edelman retiring in the fall

Post by SteadyOne »

Health issue possible
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Ed 2
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Re: Ric Edelman retiring in the fall

Post by Ed 2 »

BeachPerson wrote: Mon Jun 14, 2021 1:59 pm Ric Edelman stepping down
According to a statement the company released Monday afternoon, Edelman will stay on as a strategic adviser, a board member and the firm’s largest individual shareholder. Currently, Edelman serves as the firm’s chairman of financial education and client experience.
I catch Ric Edelman every week.

What will that mean for his firm???
Looks like he retired way faster than Index Funds as he predicted .
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Re: Ric Edelman retiring in the fall

Post by Ed 2 »

nisiprius wrote: Mon Jun 14, 2021 8:03 pm In 2009, Ric Edelman said that mutual funds were dinosaurs and that they would be gone in ten years (supplanted by ETFs). At year-end 2020, according to the Investment Company Institute, mutual funds collectively hold four times as much in assets as ETFs
That’s when I stopped taking him seriously.
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Re: Ric Edelman retiring in the fall

Post by DB2 »

nisiprius wrote: Mon Jun 14, 2021 8:03 pm In 2009, Ric Edelman said that mutual funds were dinosaurs and that they would be gone in ten years (supplanted by ETFs). At year-end 2020, according to the Investment Company Institute, mutual funds collectively hold four times as much in assets as ETFs do.

In 2011, Ric Edelman said that Vanguard's low expense ratios on index funds were illusory and that Vanguard was (somehow) hiding fees of 1.4% per year. (He didn't explain, and nobody has ever figured out, why Vanguard index funds don't lag their indexes by 1.4%). Allan Roth called him on that and actually got him to issue some kind of non-retraction retraction. Two years later, in 2013, Edelman made the same claim again.
It's interesting how these some of the guys target Vanguard. I don't recall their names as it's been a while, but there were two guys who owned a financial mgt. firm whose show aired after Edelmen's timeslot in my area. They would regularly state how the "Vanguard S&P 500 index fund" lost almost 40% in 2008. However, they always gave the impression (to the ununiformed listener) and alluded this was a permanent loss and that investors were wiped out for good. "How horrible would it be to lose almost 40% of your retirement or investment? Can you imagine the horror? All of those years you saved your hard earned money and that happens!" would be the type of phrasing, etc. "Let us manage your money so it doesn't happen" or something to that effect would be said. Never once did they mention how well the index recovered in a relatively short period of time or how well it's done since 2009. Nope. The uniformed were left with the impression that the "Vanguard S&P500 index fund" lost nearly 40% in 2008 and that was the end of it! And that you better let them manage your money; you need to call now!
Last edited by DB2 on Mon Jun 14, 2021 9:48 pm, edited 18 times in total.
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Re: Ric Edelman retiring in the fall

Post by UpperNwGuy »

Who is Ric Edelman?
123
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Re: Ric Edelman retiring in the fall

Post by 123 »

UpperNwGuy wrote: Mon Jun 14, 2021 9:24 pm Who is Ric Edelman?
https://www.edelmanfinancialengines.com ... man-radio/

His radio informercial program is broadcast around much of the country on Saturdays and Sundays, scheduling varies by local radio market.
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renter
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Re: Ric Edelman retiring in the fall

Post by renter »

Won't miss him. Does that leave just the Lazer Fund guy to pick on (on national financial radio)?
sabhen
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Re: Ric Edelman retiring in the fall

Post by sabhen »

i agreed with his point on holding to mortgage debt, especially at these extreme low levels. I stopped listening to radio talk years ago. Hate commercials and the push for their products/services/agenda....
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Re: Ric Edelman retiring in the fall

Post by Ed 2 »

sabhen wrote: Mon Jun 14, 2021 11:58 pm i agreed with his point on holding to mortgage debt, especially at these extreme low levels. I stopped listening to radio talk years ago. Hate commercials and the push for their products/services/agenda....
That is only one thing I was agree too. Everything else was pure speculation fear mongering and trash, especially when he was saying that future of Roth IRA is very uncertain. I am glad he is off air just for this.
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Re: Ric Edelman retiring in the fall

Post by Stubbie »

123 wrote: Mon Jun 14, 2021 9:09 pm The announcement includes the following: "As part of his stepping back from the company, Ric Edelman will also be giving up his weekly radio show, which he has hosted for 29 years. The final edition of The Ric Edelman Show will air during the fall, after which it will be renamed and feature a yet-to-be-identified host, the company stated."

It will be interesting to see who is selected to take over the weekly radio show. It seems to be their primary advertising vehicle so I would think they would have to bring a "name" in, they can't afford to be in the doldrums for a few years while a new talent blossoms.

I wonder who will take up the challenge, and potentially millions in compensation if successful. Will it be someone revered by Bogleheads who goes over to the "dark side"?
Maybe one of the "Ramsey Personalities" will step in to fill the void. Their investment "expert" Chris Hogan could start selling Edelman Financial Engines instead of Ramsey ELP Pros with their 5.25% upfront commissions.
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Re: Ric Edelman retiring in the fall

Post by Cheez-It Guy »

Thank God we still have Dave Ramsey to guide our investments.
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Re: Ric Edelman retiring in the fall

Post by stinkycat »

Bluce wrote: Mon Jun 14, 2021 8:20 pm I think he is a jerk and won't miss him a bit. I used to listen to him regularly but got tired of his constant shouting and the hawking of his firm. He's just another in the long list of financial infomercials disguised as radio shows.

I've listened to his bizarre rationalizations probably three times as to why one should purposely hold debt, and it never made any sense to me.

Net worth = assets minus liabilities. My assets are my net worth, I have no debt. Sorry Ricky, I learned from my dad and have no regrets.
One thing about the Bogleheads approach is that it is pretty much independent of financial personalities. Once I had the basic strategy down it was pretty much set it and forget it.
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Re: Ric Edelman retiring in the fall

Post by sureshoe »

sabhen wrote: Mon Jun 14, 2021 11:58 pm i agreed with his point on holding to mortgage debt, especially at these extreme low levels. I stopped listening to radio talk years ago. Hate commercials and the push for their products/services/agenda....
But the money I've made on sports investing is unreal.
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Re: Ric Edelman retiring in the fall

Post by sureshoe »

123 wrote: Mon Jun 14, 2021 9:09 pm The announcement includes the following: "As part of his stepping back from the company, Ric Edelman will also be giving up his weekly radio show, which he has hosted for 29 years. The final edition of The Ric Edelman Show will air during the fall, after which it will be renamed and feature a yet-to-be-identified host, the company stated."

It will be interesting to see who is selected to take over the weekly radio show. It seems to be their primary advertising vehicle so I would think they would have to bring a "name" in, they can't afford to be in the doldrums for a few years while a new talent blossoms.

I wonder who will take up the challenge, and potentially millions in compensation if successful. Will it be someone revered by Bogleheads who goes over to the "dark side"?
I think Dave Ramsay has a better approach. He is bringing in lots of alternative "personalities" and building them up as he fades into the background so there is a bench of talent he can draw from.

The difference is Ramsay is about legacy building, whereas I get the feeling Edelman is about making a buck and didn't I see that he's worth $100M+? So he'll probably be OK.
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Re: Ric Edelman retiring in the fall

Post by mptfan »

I remember he promoted having as much mortgage debt as possible and he had a list of reasons why that was a good idea. I think that was bad advice.
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Re: Ric Edelman retiring in the fall

Post by Jags4186 »

I haven’t listen to Ric Edelman in a long time. The only good thing about the show compared to Dave Ramsey is that the people who called generally were middle class to upper middle class and the questions relatable to me. Almost everyone who calls into Dave Ramsey is broke. All the Jesus stuff has also turns me off of Dave Ramsey.

At least we have Paul Merriman, although he’s doing a lot of interview shows lately. Something about him just rambling on and on reading off of spreadsheets was oddly hypnotic.
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Re: Ric Edelman retiring in the fall

Post by GG1273 »

123 wrote: Mon Jun 14, 2021 9:09 pm The announcement includes the following: "As part of his stepping back from the company, Ric Edelman will also be giving up his weekly radio show, which he has hosted for 29 years. The final edition of The Ric Edelman Show will air during the fall, after which it will be renamed and feature a yet-to-be-identified host, the company stated."

It will be interesting to see who is selected to take over the weekly radio show. It seems to be their primary advertising vehicle so I would think they would have to bring a "name" in, they can't afford to be in the doldrums for a few years while a new talent blossoms.

I wonder who will take up the challenge, and potentially millions in compensation if successful. Will it be someone revered by Bogleheads who goes over to the "dark side"?

Kenneth Fisher?
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Re: Ric Edelman retiring in the fall

Post by 260chrisb »

Bluce wrote: Mon Jun 14, 2021 8:20 pm I think he is a jerk and won't miss him a bit. I used to listen to him regularly but got tired of his constant shouting and the hawking of his firm. He's just another in the long list of financial infomercials disguised as radio shows.

I've listened to his bizarre rationalizations probably three times as to why one should purposely hold debt, and it never made any sense to me.

Net worth = assets minus liabilities. My assets are my net worth, I have no debt. Sorry Ricky, I learned from my dad and have no regrets.
I've listened to him over the years and while I never did any business with his firm he seemed better than most of the Dave Ramsey type guys. He does advocate never being without a mortgage as home equity can't be used to build an investment account with his firm.
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Re: Ric Edelman retiring in the fall

Post by sunnywindy »

Ric Edelman seems like a salesman to me (nor do I really know anything about him, either), but I think he is correct that mutual funds are dinosaurs. They only have one clear advantage over ETFs and that is that you can close them to new money (there are some other more esoteric reasons mutual funds can do things ETFs can't which revolves around liquidy - I think). For certain strategies and/or funds, that is important (think Dodge & Cox International -DODFX- it closes on occasion); for total market Boglehead funds, it doesn't matter but ETFs are always cheaper to manage.

His 10-year prediction is probably off by 10 years (In 2031, I say ETF's will have more assets and they will be in 401k etc...).
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Re: Ric Edelman retiring in the fall

Post by UpperNwGuy »

123 wrote: Mon Jun 14, 2021 9:35 pm
UpperNwGuy wrote: Mon Jun 14, 2021 9:24 pm Who is Ric Edelman?
https://www.edelmanfinancialengines.com ... man-radio/

His radio informercial program is broadcast around much of the country on Saturdays and Sundays, scheduling varies by local radio market.
Oh, he's a pundit. I make a point of not watching or listening to pundits. In fact, I don't even know who most of them are until their names show up here in boglehead threads.

I'm still astonished that bogleheads watch and listen to all this punditry.
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Re: Ric Edelman retiring in the fall

Post by UpperNwGuy »

mptfan wrote: Tue Jun 15, 2021 7:07 am I remember he promoted having as much mortgage debt as possible and he had a list of reasons why that was a good idea. I think that was bad advice.
Many of us here think that's good advice if the rate is low and the house is affordable. And it becomes especially good advice when inflation rates increase.
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Re: Ric Edelman retiring in the fall

Post by SGM »

I have listened to him only because I was driving and I like financial subjects. I could only listen to him for a short time before he said something foolish and I switched to another station. His radio show was basically a commercial for his company. Holding as large a mortgage as possible meant you had more to invest with his company's advisors. He was on the radio doing a direct commercial this morning and he asked people to call and get advice on taking a pension vs. a lump sum. He said usually his company advised people to take the lump sum. Again that would benefit his company bottom line if they were to advise you.

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Re: Ric Edelman retiring in the fall

Post by hnd »

After I was married in early 2000's, we did our budget and I found there was money left over. what to do with this money? invest it of course. So i went to the library and there sat Ric Edelmans New Rules of Money book it was about 5-6 years old but hey probably good. I got it. read it. Rule 36 is about 6-7 pages (the longest rule if i remember correctly) on how index investing is basically the stupidest thing you could ever do. And I believed it.

I heard his show on the radio some time ago, at a time when I was already on my transition plan into index investing and someone called in and he recommended to them that if they didn't have the desire or time that the best option was index investing. I could not believe it.
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Re: Ric Edelman retiring in the fall

Post by 123 »

UpperNwGuy wrote: Tue Jun 15, 2021 9:14 am Oh, he's a pundit. I make a point of not watching or listening to pundits. In fact, I don't even know who most of them are until their names show up here in boglehead threads.

I'm still astonished that bogleheads watch and listen to all this punditry.
There's a certain entertainment value in listening to points of view you don't agree with. Just like when you hear political views you don't agree with, you wonder how people can have their heads screwed on backwards.
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Re: Ric Edelman retiring in the fall

Post by mptfan »

hnd wrote: Tue Jun 15, 2021 9:31 amRule 36 is about 6-7 pages (the longest rule if i remember correctly) on how index investing is basically the stupidest thing you could ever do. And I believed it.
...
I heard his show on the radio some time ago... and someone called in and he recommended to them that if they didn't have the desire or time that the best option was index investing. I could not believe it.
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Re: Ric Edelman retiring in the fall

Post by sureshoe »

Jags4186 wrote: Tue Jun 15, 2021 7:09 am I haven’t listen to Ric Edelman in a long time. The only good thing about the show compared to Dave Ramsey is that the people who called generally were middle class to upper middle class and the questions relatable to me. Almost everyone who calls into Dave Ramsey is broke. All the Jesus stuff has also turns me off of Dave Ramsey.
I think most people here actually would fit the Dave Ramsay model, which is fundamentally: don't spend money you don't have, increase your income, save/invest a large portion of your income. He basically operates under the principle that "all debt is bad", and for the majority of people, he's right.

His first 4 "baby steps" are: get an emergency fund, pay off all your debt except your house, have a 3-6 month emergency fund, save 15% of your income for retirement. I would argue that if a family/person can do that, they are likely going to retire wealthy.

Where I start disagreeing with Ramsey is that he tells people to pay off their house early, never use credit cards, etc. I would argue that smart adults don't need to do this, but I can't argue that for most people he's right.
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Re: Ric Edelman retiring in the fall

Post by Jags4186 »

sureshoe wrote: Tue Jun 15, 2021 11:05 am
Jags4186 wrote: Tue Jun 15, 2021 7:09 am I haven’t listen to Ric Edelman in a long time. The only good thing about the show compared to Dave Ramsey is that the people who called generally were middle class to upper middle class and the questions relatable to me. Almost everyone who calls into Dave Ramsey is broke. All the Jesus stuff has also turns me off of Dave Ramsey.
I think most people here actually would fit the Dave Ramsay model, which is fundamentally: don't spend money you don't have, increase your income, save/invest a large portion of your income. He basically operates under the principle that "all debt is bad", and for the majority of people, he's right.

His first 4 "baby steps" are: get an emergency fund, pay off all your debt except your house, have a 3-6 month emergency fund, save 15% of your income for retirement. I would argue that if a family/person can do that, they are likely going to retire wealthy.

Where I start disagreeing with Ramsey is that he tells people to pay off their house early, never use credit cards, etc. I would argue that smart adults don't need to do this, but I can't argue that for most people he's right.
I’m talking strictly from a show standpoint, it gets kind of boring hearing the same “you have too much car, sell your car, how much debt do you have, how much is your house payment, you have an income problem, go find yourself a good church, scripture of the day” which is 95% of the show.

Ric Edelman show deals with some more sophisticated questions and he gives more nuanced answers.

That said, I don’t really listen to either of them anymore.
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Re: Ric Edelman retiring in the fall

Post by sureshoe »

Jags4186 wrote: Tue Jun 15, 2021 11:09 am
sureshoe wrote: Tue Jun 15, 2021 11:05 am
Jags4186 wrote: Tue Jun 15, 2021 7:09 am I haven’t listen to Ric Edelman in a long time. The only good thing about the show compared to Dave Ramsey is that the people who called generally were middle class to upper middle class and the questions relatable to me. Almost everyone who calls into Dave Ramsey is broke. All the Jesus stuff has also turns me off of Dave Ramsey.
I think most people here actually would fit the Dave Ramsay model, which is fundamentally: don't spend money you don't have, increase your income, save/invest a large portion of your income. He basically operates under the principle that "all debt is bad", and for the majority of people, he's right.

His first 4 "baby steps" are: get an emergency fund, pay off all your debt except your house, have a 3-6 month emergency fund, save 15% of your income for retirement. I would argue that if a family/person can do that, they are likely going to retire wealthy.

Where I start disagreeing with Ramsey is that he tells people to pay off their house early, never use credit cards, etc. I would argue that smart adults don't need to do this, but I can't argue that for most people he's right.
I’m talking strictly from a show standpoint, it gets kind of boring hearing the same “you have too much car, sell your car, how much debt do you have, how much is your house payment, you have an income problem, go find yourself a good church, scripture of the day” which is 95% of the show.

Ric Edelman show deals with some more sophisticated questions and he gives more nuanced answers.

That said, I don’t really listen to either of them anymore.
You're totally right. Any show that has mass volume has this problem though. Kitchen Nightmares, same show every week. Maury, same show. Etc.

Before Talk Radio became what it is today, there was a guy called Bruce Williams that I loved who covered all sorts of questions about business, money, etc. Loved it. The problem is, these type of more complex questions just don't have the broad appeal of "should I live with my mother and borrow money to buy a new car?"
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Re: Ric Edelman retiring in the fall

Post by Bluce »

sureshoe wrote: Tue Jun 15, 2021 11:18 am Before Talk Radio became what it is today, there was a guy called Bruce Williams that I loved who covered all sorts of questions about business, money, etc. Loved it. The problem is, these type of more complex questions just don't have the broad appeal of "should I live with my mother and borrow money to buy a new car?"
Yes! I loved listening to Bruce Williams. He was on here around supper- and dish washing time so I listened to him nearly every night.

The guy had been around during his life, did a lot of different things, and picked up a lot of interesting bits of knowledge learned from the proverbial "school of hard knocks."
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Re: Ric Edelman retiring in the fall

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SGM wrote: Tue Jun 15, 2021 9:21 amHolding as large a mortgage as possible meant you had more to invest with his company's advisors.
Right. Your debt is his asset.

Brilliant!
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Re: Ric Edelman retiring in the fall

Post by AlwaysLearningMore »

sureshoe wrote: Tue Jun 15, 2021 11:18 am Before Talk Radio became what it is today, there was a guy called Bruce Williams that I loved who covered all sorts of questions about business, money, etc. Loved it.
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Re: Ric Edelman retiring in the fall

Post by iamblessed »

SteadyOne wrote: Mon Jun 14, 2021 9:18 pm Health issue possible
I would have not guessed that. This is the guy that said we are going to be living to 100 to 120.
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Re: Ric Edelman retiring in the fall

Post by socaldude »

The more I listened to Ric E. over the years the more nauseated I became. "My number one selling book..." " The top financial advisor company in America.." "I was voted best advisor.." and on and on. He constantly praised himself, his ego never slept. Also, Ric would take 5 minutes to explain to the caller what a decent advisor could do in 30 seconds, and half the time the caller and listeners were more confused than before. Edelman would yak and yak and make a simple problem worse. I also happen to read on a finan. blog where a person shared his experience with a Edelman advisor, (paraphrasing) ".. he put my money into the 'ten funds' and I was charged monthly fees that were very high... I was unable to get a phone call returned most of the time and realized I was just a peon to this advisor, it was terrible, after several months of this I switched to another company and am so glad I did." Edelman and his wife act like they really care about you and they support good org./charities around America, but I wouldn't turn my money over to him... EVER. I have studied finance my whole adult life and I tell friends to avoid Edelam companies like the plague. He advises against index funds and RothIRA's much of the time and pushes callers to embrace his "ten fund strategy." Many times paying off your house IS the right thing to do, but not for Ric. When you cleared away the smoke it was mostly about Ric getting his commisions. A strange man, how many times did he talk about inventions in the future and how our lives will be different..? about 100 times ? what a waste of our time. He amassed ( and is still raking it in as we speak..) a fortune from the commisions he is charging. When you think about someone like Edelman you realize he doesn't care about anyone at all... the #1 priority was and still is, Ric's ego & Ric's money.
JakeyLee
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Re: Ric Edelman retiring in the fall

Post by JakeyLee »

I tried to get into Ric’s show. Didn’t take long to realize it was an infomercial for his “services”.

I miss Bob Brinker and Moneytalk. He and the show helped motivate a 20 something year old me decades ago. But I guess even Bob had something to sell.
SteadyOne
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Re: Ric Edelman retiring in the fall

Post by SteadyOne »

iamblessed wrote: Tue Jun 15, 2021 11:45 am
SteadyOne wrote: Mon Jun 14, 2021 9:18 pm Health issue possible
I would have not guessed that. This is the guy that said we are going to be living to 100 to 120.
I do not see any other reason for someone like him suddenly quit.
“Every de­duc­tion is al­lowed as a mat­ter of leg­isla­tive grace.” US Federal Court
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Re: Ric Edelman retiring in the fall

Post by LadyGeek »

I removed a post making a political reference to Covid-19. As a reminder, see the sticky at the top of the Forum Issues and Administration forum: Please read before posting on coronavirus/COVID-19
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Makefile
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Re: Ric Edelman retiring in the fall

Post by Makefile »

sunnywindy wrote: Tue Jun 15, 2021 8:17 am His 10-year prediction is probably off by 10 years (In 2031, I say ETF's will have more assets and they will be in 401k etc...).
Collective investment trusts - CITs - seem to be the go-to replacement for mutual funds inside 401(k) plans at least from the many threads that keep getting asked about them. I'm not sure whether they are any easier or worse to run than ETFs (or possibly even make for an easy, 401k-friendly container for ETFs)

As to the thread topic, I've also had a bad impression where I was in an old 401(k) plan that kept sending pushy marketing - emails, postcards, etc., trying to get employees to enroll for Edelman Financial Engines to run the account (in fine print, it disclosed that after the first X months there was an extra fee). This, when the default investment was already a Fidelity Freedom Index target date fund. Several of us noticed that the postcards were sent first-class so we could write REFUSED on them and drop them in the mailbox.
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1789
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Re: Ric Edelman retiring in the fall

Post by 1789 »

Cheez-It Guy wrote: Tue Jun 15, 2021 6:33 am Thank God we still have Dave Ramsey to guide our investments.
He wont retire until all Americans are out of DEBT :twisted:
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mikejuss
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Re: Ric Edelman retiring in the fall

Post by mikejuss »

And the Bogleheads care why? :confused
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Re: Ric Edelman retiring in the fall

Post by Elysium »

I don't know if Ric Edelman is a good guy or a bad guy to his clients. I've listened to his radio show once in a while driving on Saturday mornings, and he is very entertaining.

As for his financial advice, I only got one that really mattered back in late 90's when I was still learning to do stuff correctly, he said S&P 500 was a "bad" index due to all the front running and instead the better index is the Total Stock Index, since I've never heard of that fund before I decided to look it up, the search hit took me to the Bogleheads group on Morningstar, where a group of genial folks argued endlessly about which index funds were better, and it was all fun since then.

So, I guess Ric in a way led me to a lot of financial learning, should I then say he is a good guy :confused
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