Currently use Merrill Lynch, not confortable with their responses?
2007-01-29 06:43:23 · 5 answers · asked by Free Advice 2 in Business & Finance ➔ Personal Finance
You'd be better served asking for a different Merrill Lynch advisor first. They are a quality company though they typically only deal with accounts larger than 1 million.
After that...ask around. Talk to your neighbors. Don't ask for specifics about planning and such. What works for them (us) may not work for you. Simply ask about their financial advisor...does he/she provide them with appropriate and timely advice. ARe they responsive? Are they proactive? Do they take into consideration their risk tolerance when they recommend investments. If they are 100% enthusiastic about their advisor then make an appointment. Talk to them yourself. Be patient and be smart....more important than anything else is the relationship because in reality??? If you're putting enough money into your retirement you can throw a dart at an investment board and do ok on your returns.
2007-01-30 06:10:59 · answer #1 · answered by digdowndeepnseattle 6 · 0⤊ 0⤋
I'm not sure if you have any debts or not, but if you are, get out of debt first. That means being very focused on it. For more information on that, read The Total Money Makeover by Dave Ramsey. He talks about getting out of debt, saving and investing money, and building wealth.
It's a good plan to get you on the right track.
I wish you the best of luck.
2007-01-29 17:59:08 · answer #2 · answered by Jen G 5 · 0⤊ 0⤋
If you can, max out on 401(k), Roth IRA and IRA (after tax, but with new tax law, we can turn it into Roth later). I was divorced 15 years ago at age 30, with 3 year old kid. I didn't start my retirement saving immediately, but my retirement savings now is $200K, with 3 rental properties. Good luck.
2007-01-29 15:51:51 · answer #3 · answered by Pluto 3 · 0⤊ 0⤋
Find someone you are comfortable with. That's key. Then max out what you can in IRAs or whatever you have. Save the hell out of as much as you can now. What if someday you are not in a position to?
Good luck! ;)
2007-01-29 17:25:56 · answer #4 · answered by Anonymous · 0⤊ 0⤋
I'd start with the obvious things: top off your 401k. Look into index funds. Beware the heavy loads...
2007-01-29 14:48:08 · answer #5 · answered by tony1athome 5 · 0⤊ 0⤋