There's many different types of financial professionals and services that can help you with your retirement. Learn how to work with them and what to expect.
- There are a lot of people out there…who want to manage your money for you.…And some of them offer terrific services.…Some of them not so terrific.…So here's how to find the terrific ones.…To begin with if you're struggling to make ends meet…and you're not even close to thinking about…how to save for retirement…it might be a good time to meet with a financial planner.…Look for people with professional designations…like a Certified Financial Planner.…These professionals will review your finances…and build you a plan that can get you…on the road to financial stability.…
And for a fee only planner…you'll know exactly how much you're going to be paying.…When you meet they should bombard you with questions.…And they're going to want to see all of your spending records…and income statements.…And when they're done you should get a written plan…that extends for more than a year.…Now if you're ready to build a retirement portfolio…you may be in need of some investment advice.…Look for someone who is a fiduciary.…These are professionals who must act in your best interest.…
- Recognize the strategy used to combat inflation while still working.
- Determine whether investing in a company or working for a company is more profitable.
- Summarize the concept of Dollar-Cost Averaging.
- Identify the simplest, easiest investment opportunity available for young workers just starting to invest for retirement.
- Explain what “diversifying” means by using an example.
- Determine whether incurring debt can have a financial advantage.