My in-laws are in their 70s and parlayed two US federal government jobs into high quality retirements. Snowbirds with homes in 2 states, cruises (pre-pandemic) and annual trips , no debt. Deeply respect them. Their advice is that my wife and I start out doing what they did: use a financial planner to help them make the most of their investments so their savings don't stagnate in savings accounts.
Now, I know that people at r/homeimprovement balk at hiring contractors for what folks their consider simple fixes and people at r/fitness fly into a rage when I even mention a personal trainer. But a financial planner really does sound like it makes sense for us. Has anyone here had experience with one? What do you look for? And what do they cost?
Holdddddddd AMC to Pluto
I recently sold my home after moving in with my fiancé. We own her home and are getting married at the end of the month. We spoke with our financial planner who suggested holding onto most of the cash to see if the market volatility continues.
I don’t disagree about holding cash but am wondering what other options I should be looking into. We don’t want to buy more real estate right now. We have a stock portfolio about 75% of the size of the available cash and both have retirement plans through work. We both already max our Roth.
Should I look into buying something like gold? Put a chunk into a more conservative mutual fund? Pay down our other mortgage? Crypto I know is a gamble but an option…
Basically I’m wondering what else is out there that my financial advisor hasn’t suggested and we might not know about.
In my last post, I said that for my partner and I to reach our goal to save $100,000 each year from the start of the next financial year, we would have to have a strict budget.
See last post with budget here: https://www.reddit.com/r/fiaustralia/comments/n2dnj1/our_strategy_to_fi_will_this_work/
As a background on our eating habits - we don't eat breakfast and most of the time don't eat lunch. We mostly snack through the day and have a large dinner meal.
Budget Goal:
$125 pw for 2 people's necessary food and some luxury.
$100 pw each ($200 combined) 'fun money'. Half of this will probably go to food but will not be dependant on.
Currently we probably spend $200 minimum, which is far too much for us to be able to reach our goal. We eat at restaurants and get take away a lot. We also seem to waste most of the meals we make at home. I am very guilty of wanting to eat out much more than we should, especially after a hard work day. I am also guilty of wanting a different meal every day and not wanting to eat leftovers from the previous night. So sticking to this meal plan may be a little bit difficult.
I have created a spreadsheet to meet these needs. See below:
https://docs.google.com/spreadsheets/d/1ubLtwC-5k5f5PcysCapN7dndLdwVVSLuB9X0zVv_9AE/edit?usp=sharing
There are quite a few sample weekly plans and recipe ingredients.
I have tried to keep the night meal budget to around $95 which leaves about $30 to spend on snacks, fruits, lunches etc. The $30 I will not be budgeting for as I will likely just choose things that are on sale or things that we feel like eating throughout the week.
Looking for some feedback
- More meals to add to lists. Looking for cheap, filling, healthy meals. With possibility to eat over 2 nights.
- Nutritional value and how to involve that.
- General feedback of what can be made to keep our budget.
- My partner spends about $50 during the working week for lunches. What things can I make him at home to take to work so he doesn't do this?
I have inherited a few small retirement funds that I want to roll over into something like a 401k and got a suggestion from someone to pay a certified financial planner for an hour or two of their time to help me find the right place to roll it over into. How does one go about finding a good certified financial planner to deal with a relatively small amount of money (under 100k)?
Thanks for any ideas on what to look for.
Update: thanks for all of your responses and especially the link to the wiki. I decided to do the research that people suggested, and ditch the financial planner idea entirely. I appreciate your help.
Looking for recommendations as I don't currently have a financial planner. Not looking to invest etc; just need some help to make a timeline to achieve goals, get a snapshot of retirement options (still have 10+ years of working life).
So I just graduated college, moved into my own apartment, and started a new job. I have a good bad saved up and know my expenses are less than my income, but that’s about it.
I’ve tried reading articles online for advice and saving strategies, but just find myself seemingly disorganized financially at the moment and would really just like to pay an advisor to sit down with me and go through my stuff and help me plan.
Things I’d like help with:
- Organizing my money to easily keep track of expenses
- Creating a saving plan to build up emergency fund as well as another utility fund for other things like an eventual house, car, etc.
- Retirement planning
- Budgeting
I’ve looked around but it seems most are investment-first, which is nice as I do invest and plan to keep doing so, but that also means (at least according to my findings) they have a hefty fee and often require higher minimum investments than my current net worth lol.
So, are there any services you could recommend to me that may check some of these boxes I’m looking for? I’d prefer someone in person, but an online video call company would work too. Also, again I’m just starting out so a more affordable service is preferred.
Thanks in advance!
I'm about to start a new job which will be putting me into a high earning category. I've never had a tax accountant or accountant or really any guidance in financial matters nor have I had complicated financial positions before.
If I'm seeking financial advice generally is this a job for an accountant or a financial planner or both? I'd be looking for someone to help me I guess plan out what I need to be doing in addition to maybe dealing with my tax. Is there like a magic income threshold where you should seriously consider getting an accountant or similar?
Sorry if this is a noob question (I did check the FAQs first).
Hi there.
I’ve been ok at saving money and investing on my own using ETFs, TFSAs and RRSPs.
My partner isn’t as good with money and doesn’t know what to do with what she saves. We have separate accounts with a joint account for joint expenditures. We’d also like to save for a house sometime in the future when it doesn’t cost and arm or a leg or when we have much more money saved up.
I’ve tried to encourage my partner to read up on the topic, suggested a couple short books on the topic but she just finds it boring. She thinks it would be more helpful to meet with someone who can help with her financial planning.
So from that perspective what should I be looking for in terms of a financial planner?
I don’t mind helping her figure out what to do but I also think it might best for her own sake that she both understands how to save money and how to invest it.
Hi,
I am offering Investment Advisory + Tax planning + Financial Planning services.
You can have your first session with me for Absolutely NO Charge (one-to-one session).
I am a Fee based financial advisor (not commission based). I can help you out with :-
- Tax planning
- Filing ITR (tax returns)
- Short term/ long term mutual funds.
- Debt
- Gold
- insurance
- and various other topics.
Fee is applicable only if you like my first free session and wish to continue with it.
Starting early with your financial planning is the one of the best thing to do because Time = Money.
Send me a chat and i'll share my contact details.
I am 24 and graduated from college in May and am about a month into my first full time job. A friend of mine who works with a financial planner gave him my number as a potential client and we sat down for an hour or so phone call talking about his financial planning services. My question is, does a financial planner even make sense for me?
I graduated with no debt and was able to save money through internships and invest it to the point that I have ~40k in low expense ETF’s in my Roth IRA and another ~5k in acorns that I will be moving to a real brokerage account soon. I’m investing the percentage into my 401k to get the max employer match contribution and will likely switch it to a Roth 401k soon and increase my contributions once I get a rainy day fund built up in my savings account. I’m a fairly frugal person and have no problems sticking to a budget and saving a big chunk of my salary for IRA/401k and other longer term financial goals like a deposit on a home.
I personally feel like I have a pretty good handle on my finances and I’m not sure if the benefits of a financial planner make sense for me and outweigh the 1-1.5% fee. I was pretty interested when he mentioned that people who work with a financial planner/advisor typical return 3% more on investments but after I did a little more reading, that benefit is pretty much negligible for someone like me who is already invested into diversified ETFs and probably won’t be greater than the ~1% difference in his fees vs the ~0.5% expense I’m paying for my current ETF.
I would love some outside opinions on if you’d recommend someone in my position work with a FP or if there are things I might not be considering. Thanks!
In your opinion, at what investment amount or net worth is a fee only financial planner a better investment? I understand the inherent advantage of impartial advice as opposed to possibly influenced by commission advice but there would be a minimum amount at which the investment into such a planner is worth it i.e. if you are investing INR 1000 a month (random number), would a INR 15k price point be worth it (which is around the minimum charged by such planners). Or do you feel that over time the value of the advice would pay for itself either in terms of difference in selection of financial instruments or lack of commissions or something else. Any experiences with fee only financial planners?
Ano po pagkakaiba nila? Also, FAs are licensed. So nagagawa din ba nila ung nagagawa ng mga RFP?
Was wondering if any of my fellow hamsters have a local financial planner that they’ve been pleased with. Ideally, I’d like to find someone who isn’t connected to a financial institution and is trying to sell an investment product.
With the housing market going from bad to worse and now inflation rearing its ugly head, I‘m not ashamed to acknowledge my limitations of understanding this stuff and seek out good help.
Thanks in advance..
I am newbie to financial planning. I had never really bothered to organize my finances till now. I just spent when I felt like it (thought I have not spent much) and save nearly the rest of my income (which is nearly 50-70% of my total income) in FDs or crypto. The raging pandemic now has made me rethink my strategies to at least sort my finances out in case of any emergencies, chart out a plan for investments, formulate a framework for retirement and since I've got some time on my hands I thought I will hire a financial planner to help me navigate complex world of finance and investments.
I am looking for someone who can help me strategize my finance and guide me through the processes of investing based on my goals (these goals and strategies may evolve over time as my priorities and understanding of the world of finance evolves). I am looking for someone who is patient enough to guide a newbie and at the same time enables me to learn for myself so that over time I am fairly knowledgeable and make decisions with a great degree of independence. I understand that most of this sub might eschew hiring a financial planner and would rather prefer its' user to use the sub material and make decisions for themselves, but I feel that I might not be ready for that yet. And since I am a newbie I would feel comfortable if I can have someone experienced guide me. There are not many in my family who're experienced with financial planning or are pretty conversant with the investment lingo and financial systems. Therefore, hiring a financial planner at this stage seems to be the wisest option for me.
Upon researching about this a bit on YouTube and Internet, I feel that a fee-only SEBI registered financial planner might be the best choice for me. I am based out of Bangalore, and therefore I think I'd rather hire a good financial planner in Bangalore. A couple of my friends have recommended BasuNivesh with glowing reviews. I spoke to him, he seemed pretty knowledgeable and amiable. He said that his charges are ₹15000 +GST for a comprehensive plan for the first year and ₹5000 + GST for subsequent years. A couple of others have recommended [SriNivesh] (https://srinivesh.in/). I had a word with him as well and he charges ₹18000 +GST for a comprehensive plan for the first year and ₹7000 +GST for subsequent years. He also seemed pretty open and knowledgeable. I also scouted a couple of other financial planners through online search.
Now, befor
... keep reading on reddit ➡AMC to ape’s designated planet
My Mum is approaching retirement and looking for a flat fee financial planner/adviser. Any recommendations for financial adviser/planners based in Wellington?
Just got off a zoom conference with a presention by FSRA (Financial Services Regulatory Authority of Ontario - the gov't regulators).
They are working on requirements to use the titles Financial Advisor and FInancial Planner. They're calling it 'Title Protection Framerwork". There are currently no regulations around these titles.
they're going to allow credentialling bodies (CB) to get approved by FSRA, and the CB's will then delegate the individual titles.
There will be minimum standards required for use of the titles. The intention is to encourage consumers to seek out and have confidence in the users of these titles.
CB's must have a code of ethics and standards, and the necessary expertise to implement the titles.
Grandfathering of title users will be not be allowed. There will be a transition period.
Expected timeframe launch late fall/early winter next year.
I know myself along with many other apes on this sub have never had the responsibility of managing wealth before and I feel that it is super important that we take the proper steps to secure our new wealth after the squeeze is over. I have been doing a little research on financial advisors and estate planners in my area but honestly have no idea what to look for when it comes to choosing an advisor that would suit my needs best. If any wrinkle-brains out there could make a guide to choosing advisors for post-MOASS "dream teams", it would be greatly appreciated as I'm sure many of us (including myself) are somewhat clueless about where to start when it comes to this.
Please give some recommendations around the capital region with reasons why. Looking for a planner/group who will not go overboard trying to sell me specific products such as insurance. Looking for someone to advise how to save/invest and distribute a large sum of money. Thank you for any recommendations.
Anyone know of a pay-per-hour financial planner that I can run ideas by? I don't want one of the FPs that are selling their own stuff like Quadrus, Primerica, etc. Just straight up pay to play.
Valley preferred, but I guess anywhere in NS is good as long as they can do Zoom or whatever.
Thank you in advance for any help.
Hey there!
I want to hire a good CA who can help me with taxation and a decent financial planner who can help me convert my cash into wealth.
How do I go about finding one in the city? If you have reference do DM me.
Thanks!
Hello everyone.
Does anyone have any good recommendations for financial planners? I’m looking for someone that’s very patient as I’m very ignorant about investing and all that goes with it. Preferably someone that does not work for a major bank and charges reasonable fees?
Pro-tip from an old fart who's seen a lot of threads on here where one family member is finally making a good salary -- and wants to help -- but others don't understand what's prudent:
Go see a pro. Even if it's just once, even if it's a mall kiosk or online YouTube video series. Tell everyone you're doing it, that you're getting professional advice on how to make a long-range plan that will help the most over time.
Then when someone you love wants you to buy them a $$$ flat screen and you know that money is better off in the RothIRA, don't tell them you know it -- tell them
"The financial advisor said I need to be putting X plan into place if we all want to be secure in the long run, and this doesn't fit the plan".
or even -- "Gee, I've got everything set up on autopay so I can't possibly mess it up, and there just isn't enough in that account."
In cultures that value age/experience, where you've got older people pressuring (you) the younger ones, passing the buck to an outside authority figure -- or settled plan -- can sometimes cut through a lot of stressful family dynamics.
Throwaway account here.
I'm a US citizen permanently based in the UK, and an additional rate taxpayer. Between property value implications ($250k+ growth), restricted investment opportunities, and earnings thresholds, I'm at the mercy of some pretty restrictive US expat tax laws. I'm therefore the point where I need to get some financial advice to help me plan my FIRE journey.
Does anyone here have any recommendations for UK Planners? I've looked at the theamerican.co.uk, but there only seem to be a few and I can't tell how well they've been vetted.
I've had a bad experience with financial advisors in the past, so am fairly cautious and will only pay on a per-hour basis for planning advice.
Thanks in advance for any testimonials or recommendations.
Hi guys, my firm is currently recruiting and you can apply on Linkedin here:
https://www.linkedin.com/jobs/view/2559917785/
If you would like to know more about the career I have done a write-up on the pros and cons of such a role. Do drop me a note here if you would like to know more
https://myfinanceacademy.wordpress.com/2021/02/20/pros-and-cons-of-a-career-in-financial-planning/
This was not formal in an office environment. It was a family that invited my family for dinner. We were staying or lived on St. Simons Island.
My niece had recently married said CFP. I'm trying to keep my grandchildren corralled when I heard him talking to another couple about inflation.
Walked past him and handed him a scratched up Britannia, 10 minutes later we were having a discussion about silver. He told me that he had a client that wanted to buy silver and his research and the information per his company was that this was volatile given the prospectus age.
He then mentioned First Majestic. "Are you talking about AG and Sprott"?
Apes are everywhere.
My husband and I have booked in a meeting with a financial planner in the coming week. Just wondering what we should have prepared before going in to maximise our time. Thanks.
