I have been a member of hotcopper for a while now that i am...

I have been a member of hotcopper for a while now that i am retired.

I have never posted before and get some enjoyment from reading the posts from time to time. Which i am afraid is not that often.

I retired from my job in early 2005 and had a lump sum of about 1.8million dollars to invest. So a banker friend recommend i see a very good financial advisor. It cost me at the time about $4200 for his advice and retirement plan strategy. Which i thought was very dear at the time but now look back at it as a blessing in disguise.

I live comfortably on about 2000 dollars a week from about 500,000. I put into a special management strategy. Which i will get for a the rest of my life indexed with inflation and the rest CPI>

The advisor also said to invest about 720k dollars in a company called Pivotel that is what i call it anyway. Its code is IPL. I also put another 500k in BHP as it was safe and secure and gave good dividend payments as well.

At first i thought that buying 40k shares in Pivotel was madness at 17.80 a share as the price bounced sideways for about 18months. It then started to rise after a very agonising period to where it is now.

Cut a long story short the IPL shares have performed far greater than my BHP over the last three years. So the advisor did have a lot of foresight in that respect.

About 4 weeks ago we decide to sell 2000 IPL at i think it was 138 dollars a share or there about.

I was then told to invest 135k in RDS and MAK which i have since done. I have not touched the BHP shares.

So cutting a long story short the advisor sees a good future in these two new shares in my portfolio now.

( I do have one regret and that is the advisor told me to buy FMG in 2005 and i did not follow his advice on that
one)

U live and learn.