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Financial advisor

edited February 2016
I think I need one, in part because of home/sale purchase, in part because I'm trying to figure out how best to deal with my student debt, and in part because I know I need to save more for retirement but no real clue how to do that besides just shoveling more money into my IRA.

But I have no idea how to find such a person! I want someone like Suze Orman who will just help answer questions for me. All of the "financial advisors" I can find seem to be targeted to wealthy people making big $$$ investments and that sort of thing.

How do you find a person like this?

Comments

  • what a great question!!! if you find out, tell me!!
  • I tried to talk to somebody supposedly chill and they were like you need a net worth of $250k and make $100k a year and it's $120 an hour.

    WTF

    Rich get richer
  • Our union has financial advisers we can consult with. I realize that's not helpful for you. :(
  • edited February 2016
    If you are employed and have a 401(k) see if your employer offers FI services, many do and it's seldom used by employees.

    Or Google fee-based financial planners, call one up in your area and talk to them about how they are compensated and ask specifically if they are obligated to follow the fiduciary standard.

    https://www.reddit.com/r/personalfinance
    http://firemyadvisor.com/what-is-the-definition-of-fiduciary/
    http://www.thinkadvisor.com/2014/12/03/why-arent-cfps-always-subject-to-a-fiduciary-stand

    EDIT: I wish I would have read this at 18 years old: http://jlcollinsnh.com/2013/06/04/my-path-for-my-kid-the-first-10-years/
  • Oooof, though, in that dude's advice: "Spend the next decade or so working your ass off building your career and your professional reputation."

    Your twenties are supposed to be fun! Maybe do something fun and punk or non-capitalistic! Don't ruin them by working your ass off!
  • I mean, I had *jobs* all through my 20s but I also ran an all-ages music venue and went to grad school and lived in 3 different places and skateboarded a bunch. The job was always secondary.
  • I haven't even started building my career, and I'm #pushinforty.

    It's partially a scary problem, and partially just the way life unfolds 8-X
  • There is a great book called I Will Teach You To Be Rich. I read it in my 20s and got my shit together with my monies. Now I have no debt and fully own my car/education/etc... The book is great because it is 100% actionable. You start at the beginning and move through the end.
    I did have an issue with my 401k recently, and I used Alex's suggestion of this guy, who was great: http://www.pembrokeassetadvisors.com/ He fixed my issue and got me more money.
  • I actually never talked to that guy, prolly should though ;)
  • I started my career at the age of 37

    Mozart had been dead for two years by this point in his own life

    nbd
  • edited February 2016
    Punk and anti-capitalism can co-exist with working your ass off and building your career/rep, right?! But yeah the world he paints requires a much more type-A lifestyle than I would ever be able to live.

    I guess I focused more on the parts where financial independence is as much (or more) about your expenses as your income. And putting your money in broad-based market indexes like VTSAX rather than trying to game the system with fund/stock picks. Oh, and that houses aren't investment vehicles. Stuff like that.

    A 15-instead-of-30-year-mortgage here, a little bit of savings discipline there, and I could be one of the " semi-retired software engineers" that always seem to pop up in any Oregonian article set in SW Portland.
  • I was AM one of those weirdo over-achiever kids that always had too many jobs. It paid off when I graduated from college with no debt and $10,000 in the bank. I had an ulcer and a bum liver to work with at age 21. BUT "being responsible" has made me cripplingly afraid of debt.
  • While it seems cozy, I'm so terrified of buying a house! How do you deal?
  • Why terrified? It hasn't seemed much different from renting. Except (if this refinance works out) I'll actually lower my "rent". How often does that happen in an actual rental?
  • A house is good debt! You're building value rather than pissing your money away to a landlord.

    Plus it's really good for tax deductions.

    Plus you can do whatever you want with it.

    Plus if you can figure out a 15 year mortgage, you'll only have that debt for 15 years and then NO MORE MORTGAGE.

    That being said, mortgage IS French for Death Grip, so maybe you're right.
  • private property is bullshit but everything Alex says is also true and just good ol' common horse sense for life in late capitalism
  • Big downside to buying: potentially harder to move (though in our housing market...)

    Big upside: lock in your mortgage at today's housing rates. In markets that are falling, that can be a bad thing. But again, in our housing market...
  • Mr. Money Mustache
  • The long-term indebtedness is the most terrifying. Also the fact that you just bought a huge thing that could need another 1-20K dumped into it at a moment's notice.

    My little brother just moved back to my hometown and keeps talking about all of the incredible houses on the market for $30,000-80,000! Our neighbor here in Anacortes just sold a TINY 1 bedroom, 1 bath for $275,000! I'm having a hard time wrapping my head around the massive swings.

    Most landlords are pretty shit, but I feel like we finally have good landlords both of our apartment and our shop.
  • When you have as much student loan debt as me, the long term indebtedness is more familiar and less scary. :/
  • You don't have to be in debt long term. You do have to trust the economy a bit, but you could just own the house for 5 years and then skate.

    If you have to dump like $3k into a new furnace, at least the new furnace adds value for when you sell the house.
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