2007-10-27 04:10:01 · 8 answers · asked by Delaney 1 in Business & Finance ➔ Personal Finance
I am ready to be your boyfriend. Then we can go on holidays, buy gifts for me..and many more things we can do.
2007-10-27 04:20:02 · answer #1 · answered by shiava02 4 · 1⤊ 2⤋
Talk to three independent Certified Financial Planners (CFP). First, ask them for a form ADV. Form ADV is a regulatory disclosure document. Just ask for it. Second, ask if they are series 7 licensed. If they are, it is not a deal killer, just be a little wary. A series 7 means you are talking to a stock broker, and MAY not be getting the "best" advice for your situation. A person with a series 65 on the other hand, has a higher legal duty to his clients. The most important thing is to talk to at least 3 professionals and go with the one you that clicks with you. You must feel comfortable in the situation. Also you should ask for 3 client references. Most investment professionals are honest and treat their clients very good. (Both brokers and registered investment advisers). A few bad apples have given the industry a bad name. If you are asking what to do with your money you probably should not be investing it yourself. Chek out the website FPAnet.org for more tips.
2007-10-27 14:13:53 · answer #2 · answered by Chris 1 · 0⤊ 0⤋
First off congratulations, your already better off than most Americans.
I would get a good book on personal finance, I'd been using "The Only Other Investment Guide You'll Ever Need" -Andrew Tobias, or one of the Idiot or Dummies Books. Again you want the one on Personal Finance. Investing would be the next step if you wanted to get more in depth & detailed with your investments. But for most people the information in the Personal Finance book will get them going in the right direction.
If you are talking 6 figures amounts and those books completely baffle you, or you have a lot of complex issues with your situation (like gravely ill parents, alimony issues, etc) you may want to see a Certified Financial Planner.
My only other advice is to spreadsheet out everything, it gives you a roadmap of where your finances are and where you want to go.
-G - Fellow saver/investor
2007-10-27 13:15:08 · answer #3 · answered by tiescore 6 · 0⤊ 0⤋
First, make sure you're putting as much as possible into retirement accounts, starting with a Roth IRA. (A Roth IRA is great because it grows tax-free, you can withdraw the money tax-free in retirement, and you can take out your basis anytime to pay for college or a first home.) Next, invest in no-load mutual funds. You'll get the best service and selection from a large mutual fund company such as Fidelity or Vanguard, and they'll also help you set up your retirement account(s). For easy diversification, pick one or more funds with a targeted retirement date, such as a Vanguard Target Retirement Fund or a Fidelity Freedom Fund. Pick the target year based on when you'll retire or when you'll need the money for a down payment on a house, etc. And read lots about investing at www.fool.com. Good luck!
2007-10-27 11:22:29 · answer #4 · answered by Isaiah 2 · 0⤊ 0⤋
Chris is right on the money. Get yourself a Financial Advisor for the best deals. Most Banks can handle that for you. They can put it in funds that are tax deferred until you draw on it.
2007-10-28 02:01:55 · answer #5 · answered by Anonymous · 0⤊ 0⤋
read the book Debt Proof Living by Mary Hunt
or read one of Suze Ormans books
2007-10-27 12:41:51 · answer #6 · answered by liajewelry 3 · 0⤊ 0⤋
How much do you have and what do you want to do with it? Do you need it readily available for the near future? Do you want to invest it to grow for the long term? These questions determine what is best.
2007-10-27 11:21:45 · answer #7 · answered by npk 7 · 0⤊ 0⤋
buy gold
2007-10-27 11:19:35 · answer #8 · answered by bingobum 3 · 0⤊ 3⤋