We are currently in our 30s and our planning for our future. Would like to have someone to recommend what we need and how we go about doing it. We do not have a lot of assets and investments that we would like someone to manage. So we are not looking for a long term relationship but more of a one-off consultation.
What we expect is someone to make recommendations on a IRA, identify any insurance products that we may need, etc etc. Would prefer someone who isnt a broker or RP who is looking to sell us on of their products but a more objective advise on the best options avbailable.
Pages
Recent questions
- Will Sap Finance Help Me In Career Growth?
- How Long Does It Take To Get Your Share Of An Inheritance From A Will If Its Not Being Contested?
- Crocheters, Do You Have A Pattern For A Crocheted Gingerbread Man Potholder You Would Share With Me?
- Do You Share Your Birthday With A Significant Date In History?
- Is The Stock Market Finally Correct Its Self For The Home Mortgage Debacle?
- Where Is The Over-all Share Ratio On Utorrent?
- I Need A Combination Of Color To Paint My Living Room- Dinning Room ( L Shape And They Share A Wall)?
- How Do I Share My Computer Hard Drive With My External Hard Drive .?
- How Do I Prove That Owning Some Of The Stock Works In Motivating Employees?
- Should Schools Emphasize Personal Finance And Nutrition More?
- Why Are There So Many Indian Investor’s On This Board?
- Do You Have An Original Recipe For Mochi That You Would Like To Share?
- Is A B Class/share Mutual Fund Good If You Have Less Then $5000 To Spend On It?
- Chemistry Help With Calculating Dilutions From Stock Please?
- How Can I Share Internet In My Local Network?
Google ads
Categories
Archives
5 Comments
Try a fee based advisor. Keep in mind that they will charge you what most any other professional might (several hundred bucks).
There are lots of good self help books out there that you might want to read. Tons of websites also.
If you want specific, personal advice from a professional, it’ll cost you (obviously).
My $.02 opinion:
Pay off high interest debt
Develop a realistic budget
Roth IRA, 401k (invest these dollars in good stock mutual funds)
life insurance, disability, health & an umbrella policy
estate docs (include a trust provision in your will if you’ve got kids)
529 accounts for college savings (if applicable)
Good Luck!!! Every financial advisor that I have ever ran across makes a majority of their money through the products that they sell. Even a fee-based financial planner will more often than not lose money on the advice that is provided when you take into consideration that industry average marketing cost to acquire a client tops $600 and a good average for an advisor is one client a week. This would mean to make a small salary of $30,000 per year the advisor would need to charge a minimum of $1,100 per financial plan written just to break even.
call up Vanguard. They will advise you. 1.800.662.SHIP
What you want isn’t all that easy to find. Brokers and investment counselors are paid to sell you investments and, although they have some very strict regulations to which they must adhere, they still have to make money. You can get an independent financial advisor, but they don’t have access to the investments you need. The best thing to do is educate yourself.
Consider three things. First, take a class in financial planning to help you get started with the “pyramid” concept and cut through some of the marketing BS. Second, get started with some mutual funds at a high performing discount wholeseller like Fidelity or Janus funds. It will spread the risk while you learn more about how to invest. You can find them online. Third, find a person you trust in the business and get to know him or her for awhile before you make any purchases. Have them make a couple of suggestions about how to manage your WHOLE portfolio instead of individual investment purchases. Check how their recommendation jive with each other. You’ll quickly find out who to trust,
You can search for a financial planner that charges hourly fees at websites like http://www.claroconnect.com which lets you screen advisors by criteria like location, qualifications and fees.