Money, Money, Money
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- CincodeMayo
The wife and I need get our finances in order. We're recently married, thinking about kids, hoping to buy a home in the near future, etc. We also should probably have someone who knows what they're doing look at our 401k's, stocks, etc.
Can anyone recommend a good company to talk to? Not sure where to start and Google isn't leading me to the right places.
In person, online, whatever. Any thoughts?
- utopian-3
Read this page first...And good luck!
http://www.qbn.com/topics/698922…
- monospaced0
Same situation here. Ready to talk money. Should I just talk to the financial advisors available through my investment companies?
- whats your level of risk for investing?yurimon
- what's yours?monospaced
- 20020
Look for a financial adviser who is a certified financial planner (CFP). They're licensed and regulated, plus take mandatory classes on different aspects of financial planning.Consider the planner's pay structure. A planner who earns money based on commission rather than a flat, hourly rate could have an incentive to steer you in a particular direction.
Read the code of ethics that your financial planner adheres to. Look for the word "fiduciary" and language that requires planners to look after your best interests.
- georgesIII-3
my uncle can help you out,
his name is prince agumbolagaba,please send me your credit card # and the last four digits of youre ssn,
- 20020
http://www.cfp.net/utility/find-…
Find a CFP in your area and narrow down
Many wealth management will have asset minimum
Examples:
http://advisorservices.schwab.co…
- formed0
Not sure you need a financial planner, but that really depends on how much you want to do yourself. Like anything, you'll pay for their advice. The part I don't like is that they just have an investment firm that they'll recommend to you with basic mutual funds, then they take a percentage per year.
There's plenty of resources out there that will give you sound advice. The only reason I'd see a planner would be if you want to get things like life insurance, then it's worth doing it all at one stop.
But keep in mind a fp is NOT an investment adviser, so they won't know a thing beyond the package their firm is promoting (that some investment company sold to them).
- 20020
^ i dont agree
you can get financial advice from a professional for a fee without having an active relationship.
most advisors offer open architecture where they recommend products outside their bank or office.
CFP looks at your assets and your goals (short term or long term) - it is up to you execute them (unless you give them management).
there are lots of online resources but they are not personalize for your goal and your situation.
- Everybody's different. My cfp is helpful, but I would not rely on her firm for investments, that's another job (one I prefer to have control of)formed
- You get a CFA for that2002
- nah, I've done much better on my own, unless you have a ton you won't get any advice you can't find yourself (beyond someone selling their mutual funds)formed
- have you tried CFA or similar? if not, how do you know you are doing better?2002
- I am doing better than the majority of analysts, so I'll take it at that. I don't have $20mill for someone that knows what they are doing to pay attention.formed
- plus, I don't like paying for fees when I know as much as they do, if not more (about the relevant details)formed
- martinadolfsson1
I'm in a similar situation myself, I found personalcapital.com really helpful. Especially the retirement planner. - Never thought I would write these words...oh well
- mg331
Been thinking about this for a while too. We're in our late 30s and are over 14 years into our careers, so we've got retirement funds that have been building up for a while.
Best thing we've done in the past year is get life insurance after our daughter was born - and I mean policies outside of our employers.
I think the best thing you can do for financial planning is think as far enough ahead as possible to understand the benefit of any scrimping you have to do when you're younger to have more later. I know too many friends who either by situation or choice (when they have the opportunity) don't know anything about how to plan for retirement or just can't because of not having any money.
- ApeRobot0
....Must be funny. In the rich man's world. Tadadadada ta ta......
- CincodeMayo0
Good advice guys. Meeting with a CFP/CPA on Thursday. Initial meeting is free (tends to be with most of these) so it can't hurt. Sounds like he can help with future planning as well as handle our taxes. As long as his prices are fair, seems like it'll be a good idea to have him put us on the right path.