‘He even bragged about his Mercedes-Benz:’ I rejected two egotistical advisers. I managed my life savings and they tripled over 25 years. Did I do OK?

Group 1 - The article discusses the experiences of individuals with financial advisers, highlighting the importance of ethical considerations and the potential risks of high fees and aggressive investment strategies [1][4][10] - It emphasizes the significance of maintaining a modest lifestyle and the role of a well-managed retirement fund, which has grown significantly over time despite some investment errors [2][19] - The narrative illustrates the decision to avoid financial advisers due to concerns over their practices, ultimately leading to a more conservative investment approach that mitigated risks associated with market downturns [9][15][16] Group 2 - The article provides insights into the performance of investments, comparing the individual's returns to historical averages of the S&P 500, indicating that a 4.5% annual return is below the market's historical performance [7][14] - It discusses alternative investment options that are considered safer, such as bonds, CDs, and high-yield savings accounts, which can provide security and peace of mind [12][13] - The importance of understanding whether financial advisers are fiduciaries and the implications of commission-based compensation is highlighted, suggesting that transparency is crucial for investors [17][18]