Financial Planner
- Thread starter DoWhat
- Start date
PeoplesElbow
Well-Known Member
In the end all they do is give a bit of advise, only you know what you want, what your risk tolerance is etc. No matter how good a financial ad visor is, unless they know every single thing about you they can't do that great of a job.
Most people see them as someone else to thrust their responsibility for their financial well being off onto, that is the farthest thing from the truth. Only the very rich can afford to take someone else's advise without learning about what to do for themselves.
In my opinion they exist because people want someone else to tell them what to do and people don't want to think because "like you know math is hard and stuff".
I am not a big Suze Orman fan but this is the first book about finance that i read and it isn't bad. http://www.amazon.com/The-Road-Weal...sr=8-1&keywords=suze+orman+the+road+to+wealth
At the very least it was a good start. I suggest reading a couple fairly recent books (2000 or later) on the subject.
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Thank you.
I am a big Suze Orman fan, as far as *most* of her financial advice goes. I am not a 100% fan of her political views, however, I think she gives very solid, fiscally conservative, financial advice.
Www.suzeorman.com
Another one who gives good financial advice, and is also an all around great consumer advocate "guru" is Clark Howard. Www.clarkhoward.com
Www.suzeorman.com
Another one who gives good financial advice, and is also an all around great consumer advocate "guru" is Clark Howard. Www.clarkhoward.com
Then there's Dave Ramsey. www.daveramsey.com
LibertyBeacon
Unto dust we shall return
I wouldn't bother unless your net worth is > $1m. You can DIY with a bit of help. "The Truth About Money" by Ric Edelman is a good place to start. If you decide on an advisor, you want a fee-only advisor. Expect to pay at least $200/hour for competent advise. Interview several -- face-to-face interviews over a cup of coffee -- and select the one that best lines up with your philosophy.
ProfMoneyWise
Member
Never buy anything you do not fully understand and never shy away from paying for learning, knowledge and expertise.
Five places I don't cut corners. Doctors, Lawyers, Accountants, Financial Advisors and Pilots.
Remember, they advise, you still make your own decisions.
Five places I don't cut corners. Doctors, Lawyers, Accountants, Financial Advisors and Pilots.
Remember, they advise, you still make your own decisions.
tipsymcgee
Active Member
What is the real difference in a "financial advisor" versus dealing with a rep from Edward Jones or Merrill Lynch, etc, if there is one.
ProfMoneyWise
Member
None. The only difference would be if you had an independent advisor who was not affiliated with a company. I am a long time Edward Jones customer and very satisfied. I also have used an independent advisor in the past and was satisfied there as well.
ProfMoneyWise
Member
Depends on what they are advising you on. I can be called one but I advise on getting out of debt, having an emergency fund, importance of being properly insured, budgeting, and making sure you build a team of advisors as needed to assist you with things that require certifications. Insurance agents, Investment Reps, CPA's, Estate Planners, all need to be certified and for good reason.
I was once asked if I had insurance in case I was sued. I told the person I would gladly stand in court and admit I advised to get out of debt, have a budget, emergency fund, plan for known/unknown expenses and live on less than made and once out of debt always be saving something. If there are crimes there I'll take the hit.
PM me and I'll let you know my opinion on the best money book going. The rules of the forum do not allow me to post it here . . . a little mystery is good for the soul (hint, hint, on that last word).