Yeah, That Was A Fun Little Exercise, Wasn't It?
It's pretty obvious by now that the team I was going to join has had some bigger issues to deal with, such as hiring the replacement for Mr. Crazy Random Who Needed To Retire And Finally Did.
Would I still join if they approached me, so much later after giving me the verbal offer?
I don't think so.
I have had a really good summer and gained some key clients, so I think I am going to stick to this route instead of that one.
I am glad it didn't work out because I would not have been able to see the upswing this summer brought my way.
Just goes to show, you never know how things will truly work out to your favor.
Cost of Kitchen Remodel
I have dreaded and looked forward to this project for 8 years now: Kitchen Remodel!
Gutting it and removing a wall and everything Brand New.
It's a little anxiety-inducing, however.
As in, $80,000!
That's alot of money.
However, we have done almost everything else to this house, and this will be a kitchen for decades and for whenever down the road we sell it.
After next week we start packing everything up and going out to eat for all our meals for about 6 weeks.
I also feel good about the fact that we now have over $600,000 towards retirement.
I will just ground myself around that number when I start hyperventilating!
Yet Another Step
I met 2 more members of the team yesterday.
Even though I have been given a verbal offer from the decision maker (that happened a couple of weeks ago at that breakfast), I am still in limbo until Crazy Pants' replacement is hired, which could take awhile, because it's a VP position.
I hit yesterday's meeting out of the park, so I am at peace with what I could have done.
This process has now gone on for 5 month.s
It started early December.
I no longer am emotional about it (as in, I don't have that 'excitement' you have when you want a job really bad) and I think that's a good thing.
I still want it, but am not really focusing on it right now too much, mostly because my LLC is doing really well and I have gotten some new clients lately.
I haven't had it up and running for a year yet but am really happy with how my first year went.
The first couple years are the hardest because of all the seed planting that is being done, but i have confidence things will work out the way they are meant to.
Tomorrow Is, Finally, THE Day
Tomorrow morning Breakfast meeting. This is it. Holy, I can't believe how long this has taken.
This Is Driving Me Insane
Heard from the recruiter on Monday.
Said I'd hear back 'end of this week'.
It's now 4pm on Friday.
Nothing.
I really don't want this to drag on anymore.
But it looks like it is and that I now have to go through the whole weekend until next week now.
*sigh*
Well Wouldn't You Know It: Amazing As App!!
I think it was the best I have ever had. I was ON. But let me back up for a minute.
I haven't ever quite gone through such a process as this one, and it has definitely been frustrating at times.
But my contacts in the group have been supporting me and saying I am the #1 candidate and why that is.
When I finally got the As App on schedule (which took a month) and then the actual day arrived (last Thursday, another few weeks), I was prepared.
Simply put, I got the job.
I don't have the offer yet, but got a verbal.
This team is an amazing team with respect to calibre of knowledge and skill at their craft. I also like how it is a team based approach and holistic (trusts, estate planning, portfolio management, premier lending).
Now I have a very, very big decision to make.
As App Is Tomorrow; Can You Believe It?
You might as well say ok I think tomorrow you will be getting on a rocket and going to the moon, that's how odd and unreal this whole process has been.
I have 2 phone calls today with others in the group to help guide me to what in the world to expect from this tomorrow.
I mean really, it's been over 2 months; it's the strangest process (or lack thereof) I have been through.
It's hard to really take it seriously.
I Am Breaking Up With Russell International Growth
Gave it a go for 4 years as it was MSFT's first international fund (at least that I liked) to their 401(k) participants.
But it's been underperforming against it's benchmark, MSCI World Ex-US Growth while charging us .59% expense ratio.
So I am switching to the Russell International Value SMA instead (these are the best international funds offered in the 401(k) plan. I wish there were more and I wish they were passively managed but I am working with what I have here).
The Russell International Value SMA has a slightly higher expense ratio at .61% . Yet we need international diversification so there it is.
It's done a better job of at least meeting and actually exceeding it's benchmark, the MSCI World Ex-US Value.
This is a newer SMA for the 401(k) plan. It's only been offered for a couple of years. I was hesitant to switch to it earlier because I needed to find out more about it first, and I have.
I moved 50% from the Growth SMA to the Value SMA last week and am moving another 50% today.
I don't like making bulk moves (e.g. all at once) because I believe in averaging in and out of positions to buffer against any drastic one - day activities.
So buh-bye Russell International Growth SMA, I gave you a good 3 years but you did me wrong.
Dear Public, We Have Failed You
Yes it's a vociferous thing to say, but not all people who call themselves financial advisers have your best intentions at heart nor are they required to even remotely be qualified.
Why?
Because anyone can call themselves a financial adviser, and pretty much those that sell financial products do call themselves that, instead of what they really are: Financial SalesGuys.
But how about
an actual Financial Planner?
That's where the client is truly served by someone with no inherent conflict of interest, because
they are not using the Financial Plan as a means to sell you product.Only a Financial Planner who is compensated by you, not by an annuity company, mutual fund company, insurance company,
will be working for you.
Why?
Because the one who writes the check (you) is the one they work for.
I Can't Believe I Am Saying This: I Have The As App And Could Care Less
Yep, it finally got scheduled.
Lots of apologizing from the Hiring Manager and 'encouragements' (FWIW) that I am The Candidate (which I confirmed from my other contacts there).
I actually pushed it out a bit, so it'll be awhile before it happens (always a good thing).
But sheesh I am resigned to not going there now, due to this process (lack of) and how long it's taken (my work style is very very different from being measured in weeks, as it seems to be there).
Yet I don't want to burn bridges; that's very stupid.
I really like the team but I need to know more about the people I haven't even met yet. And I got super turned off on this opportunity by the Mr. Random (aka Hiring Manager), who really should have retired by now.
So, I will go, prepared of course, but I will be asking some pretty pointed, but fair, questions.
My AsApp is with the SVP but I don't care I am asking the questions anyway, SVP or no.
I just signed on 2 new clients this week and that makes me just that much more settled and happy about what I am already doing.
Latest Update: Total Train Wreck
So I contacted Mr. Random to see what in the world was going on with the AsApp (I have been told I have it but that it's now a function of getting in front of the SVP).
I have been ambivalent about this all along, because I am in a pretty sweet spot. However I really like this team and how they function (as well as the fact that it's not one of the financial services institutions).
And it's a very good position.
However, Mr. Random really needs to go before I would seriously consider a move over there.
He did contact me after I pinged him to find out if he died or just got lost in his way to work one day.
Without getting into specifics, his response was raising some red flags for me, even though in general it was positive and telling me they can't wait to make me a final offer.
But I am not interested in having more drama in my life so I am going to pass.
I may reconsider after he has gone (which is in the next year, maybe even sooner), because I really like the team, the overall group, and the company.
Will The Real Financial Planners Please Stand Up?
If you go to Ameriprise, or MetLife, or Edward Jones, or any other financial services 'institution' please acknowledge that you are dealing with a Financial salesperson that has conflicts of interest and not an actual Financial Planner who is providing you objective, tailored advice.
If you are not paying directly for the service then
you are getting sold financial products and the compensation is coming to them from the products they sell you (you don't really think this is all free, do you?).
If you aren't personally writing a check to the Financial Planner for their services, then
you likely are getting taken for a sweet ride (not sweet on your part though).
I've said it alot on this blog and it is still starkingly true: If you aren't working with an Hourly Fee-Only Financial Planner you are dealing with someone who has an inherent conflict of interest.
Why?
Because you aren't the one paying them.
The one who writes the checks is the one who the person works for.These financial salesguys are, at best, advising you to buy financial products that may still be suitable, but
are not necessarily the best fit for you.
Only Fee-Only Financial Planning, practiced by someone who has also at least passed the Certified Financial Planner (tm) Board exams,
is objective and knowledgeable enough to provide actual, tailored, financial planning with no conflicts of interest. You can find an Hourly Fee-Only Financial Planner through NAPFA or just do a Google or Bing search for one in your area.
Financial Planning and buying financial products (e.g. actively managed mutual funds, cash value life insurance, annuities) are not the same thing by a long shot.
Or Maybe Not
What the hell is it with people in this industry?
As if I needed more randomness/unprofessionalism after Mr. Gold Link Bracelet.
I really would not have expected it from such a highly regarded firm.
Nor from people I have been networking with for almost a year now (granted, they aren't the Hiring Manager, but still).
And I didn't even pursue this one, they approached me.
Yet after having met with them the second week of December, then getting a follow up the third week of December that I'd be in the final round and that that would be set up the week of January 10, and yet, no word still?
It's beyond rude and I am beyond pissed. I don't want it now anyway but for the Love of All That Is Good can't you give me the effing courtesy to let me know one way or the other instead of leaving me hanging like this?
Totally disgusted with the Hiring Manager.
I am so glad my LLC is doing so well and that I have a pipeline going.
Because if I didn't this would have really shaken me to the core.
Instead it just irritates me and I can live with that.
Just One More Way That Chase Sucks
Our Health Savings Account (HSA) is with Chase.
It was the only option available for our health insurance, which is with Cigna.
In order to have an HSA, you need to have a High Deductible Health Plan (HDHP), which we do through Bear's employer.
If you are a reader of this blog you know already that I am a huge fan of HSAs and that I am very excited we are able to participate in one.
So basically when Bear's employer provided an HDHP with an HSA as a Health Insurance option, we jumped all over it.
So we have been contributing to it for 2 years now and it has a nice balance on it that is becoming a pretty big number as opposed to just a rounding error on the balance sheet (well, it's still tiny on the balance sheet, but it is almost 5 digits so I am paying attention to it).
I looked up options to just having it in savings.
There are very restricted options, but they are there.
They are some index funds provided, of course, by JP Morgan (part of Chase).
But that's fine. Index funds are more or less index funds. There are some minor differences in them regarding how they track to an index but in the grand scheme of things are minor.
But in order to buy them I'd have to 'open an Investment Account'.
Care to know how much THAT would cost?
Try $2.50 a month!!!
Are you kidding me?!?!?
$30 a year just to open an account and then of course on top of that they still get their fees through the expense ratio for each of these funds.
I am so pissed.
I so hate Chase.
I can't even believe how crappy they are.
Again and again and again every single time I have had to deal with them has been a Massive Nightmare.
And believe you me as soon as Cigna has any other option for an HSA I guarantee you I will be the first customer in line to switch.
$30 a year, total rip off!!!!
