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A financial advisor is a person who advises people of all walks of life on financial affairs. He is a very valuable servicer in the area of saving money and making investments. He makes investment decisions, manages your finances and gives you all financial advice. Thus he influences the vital decisions in your life, career, business and future.

So the financial advisor should definitely be a qualified and experienced person who has experience with various financial matters. In matters related to money, experience counts. Practice makes perfect, says the proverb. You can never risk your career and money for unintelligent advice. So qualification and competence matter.

How will you check a financial advisor?s credentials? Of course the reputation and references are important. Credentials must also be considered. The designations may sometimes vary, like financial consultant or certified financial planner. They of course are professionally qualified for the post.

Next is the educational background. Here you have strike the right balance. You might find some very brilliant and competent financial advisors who have made a name Read more…

Competent financial advisors don?t have a particular look about them, even if they claim to have proof of their ability. To protect yourself, it is important to ask the kind of questions that will indicate whether the potential advisor has the requisite level of skill to handle your financial affairs, or whether you should look elsewhere. The following simple questions will help you determine if the advisor under scrutiny can really help with your financial affairs.

The first enquiry you should make relates to education. Competence and quality with advisors comes in the form of a relevant tertiary education, professional memberships of financial advisory groups, and certificates or further qualifications that show ongoing professional development. It is also important to enquire about length of experience in the financial industry, and in particular how long the individual has been working as an advisor. This should be considered the first step in your financial advisor selection process.

The second avenue of enquiry relates to payment for services. This question is important as financial planners can bill hourly, work for retainer and some work on a commission basis. Each of these payment channels attract differing fee levels, and this information will influence your choice of financial advisor. It pays to know up Read more…

When hiring a financial advisor you don?t want to simply hire someone who looks like they know what they are doing, but rather a financial advisor that knows what they are doing and has proof. You will need to ask your potential financial advisor several questions in order to get a real feel of whether this financial advisor is skilled or has no clue how to advise you on money matters. You will be able to find a financial advisor who is going to really help you with your finances by simply asking the following questions.

First of all, you want to ask the potential financial advisor what kind of education he/she has. This is important because a quality financial planner will have educating supporting this field of work, as well as credentials, continuing education certificates and the like. You will also want to ask what kind of experience the individual has as a financial advisor and how long the individual has been working as a financial advisor. This information will enlighten you as to the type of financial planner you are considering hiring.

Another question that should be offered to the potential financial advisor is how they receive payment. Does this particular financial advisor charge an hourly rate, work only on commission, or have some other fee schedule? You will need to Read more…

The following tips will help get you in gear to start your financial planning. Once you have made financial planning part of your routine, it won?t seem so difficult. But getting your financial planning started can be the most difficult thing. These tips will help motivate you to make financial planning one of your main goals.

Financial Planning Tip #1 Pay off Debt

One of the biggest factors fighting against financial planning is debt, especially credit card debt. If something starts off as a small debt it turns into a big one simply because you were not paying off the debt. Financial planning means you have a plan and paying off debt should be the first goal of your plan.

Financial Planning Tip #2 Invest

Another financial planning tip is to invest. Financial planning means you are saving for the future in many cases, so you will want to take money you earn today and invest in the stock market, in bonds, IRAs, 4019k) or a mixture of all of the above. Saving your money with the help of financial planning will help money grow all on its own.

Financial Planning Tip #3 Spend Less Read more…

Nobody likes to pay banking fees, but if you aren’t active in trying to reduce them, you are probably paying more in fees than you need to be. One of the most important actions to take in order to reduce the banking fees is to figure out exactly how you use your bank. Consider what your average balance will be and how low the balance may dip. Also consider the type of transactions you make and what types of services you need. Once you have a better understanding of how you utilize the bank, you are in the position to get the most out of it while avoiding fees for services you don’t need or use.

Probably the best move you can make is to try and qualify as a member of a credit union. Credit unions are not for profit organizations meaning they don’t have to worry about making a profit. The qualifying factors to join a credit union vary from institution to institution, so you will need to check with each. The good news is that there are a large number of credit unions associated with a wide variety of organizations. Qualifying for inclusion has been broadened a great deal over the years, so it is much easier to find a way to qualify.

Since credit unions are there for their members and not out to make a profit, they are much more likely to offer completely free checking or free checking with a small minimum balance. In most cases, they also charge lower banking fees and their interest rates on accounts are higher. The one big drawback is that they tend to have fewer branches and automatic teller machines (ATMs) than major bank networks which can be costly if you are an ATM addict. You can begin your search to locate a credit union near you at the National Credit Union Administration: http://www.ncua.gov/siteoutline.html

If a credit union isn’t a possibility, then you need to take a look at the different types of banks. While the major banks will have a better distribution of ATMs and a greater variety of services, their fees can be as much as 50% higher than those of local banks. It is also worthwhile investigating Internet banks since their fees still tend to be lower than those of major banks.

Once an appropriate bank has been chosen, reducing the standard fees they charge is an important. Although there are a wide variety of checking accounts offered, most banks will offer at least two typical checking account alternatives. A basic checking account will have a lower minimum balance requirement, but it will usually have restrictions on the number of no cost transactions you are able to make each month. A premium account will usually offer interest and allow for more no cost transactions, but will require a larger minimum balance to avoid monthly fees. Not meeting the requirements of either of these can be quite costly, so it pays to chose the checking account style that best fits your use.

Although an interest earning checking account seems like the obvious choice to make, there are a variety of situations where you’re better off choosing a no interest checking account. If your account balance fluctuates quite a bit so that you are likely to go under the minimum balance required for the account even a few times during the year, you are likely Read more…

It is so easy to put certain things off. Things that do not demand our immediate attention. Things that do not need to be constantly monitored or watched or baby sat. Things like that extra load of laundry, the timely payment of the minor bills, the simple note of appreciation for a kindness extended in your direction, or our planning for the future.

Time passes so very quickly. Things we really meant to get to are yet left undone. Some of them are even postponed until it really is too late.

One of the saddest statements I have ever heard or read is the one that says, ?The family would like to thank those who have so graciously given their sympathies, and would request a cash offering in lieu of flowers.?

How sad that yet another person has passed on and left it to someone else to struggle out their financial affairs.

The solutions are so simple, so easy, yet they do require one to take the time and initiative to set things in proper order.

There are three basic considerations in life that are so easy to plan and set in motion to secure our futures. They are (1) getting out of debt and staying debt free, (2) planning for retirement, and (3) securing your financial future.

(1) Getting Out Of Debt.
Of all three considerations, this one requires the most self discipline. Start by checking your credit and credit score (FICO). You can get free copies of your credit report from the three major credit reporting agencies at http://annualcreditreport.com.

Next, consider looking at where you want to be in the future, financially. A site that can help in this discovery is www.primericafna.com. Perhaps a debt consolidation loan can make a difference for your situation. If possible, get one that allows payments on the loan every two weeks to reduce the principle amount even faster.

(2) Plan for Retirement
One of the best options in planning for retirement is to consider investments. There are a number of regular and tax advantaged options that may be used to Read more…

1. Don?t ignore your debt. No matter you can pay or not, don?t make your lenders come looking for you. Because it will be bad news for you. Remember this general guideline, and you will automatically save yourself a ton of grief. Always making sure that your lender has your correct address and phone number. If your lender tries to contact with you, and cannot find you. They will hire collector who will track you down, and that?s nobody?s fault but yours. If you cannot pay it right now, suck up your courage, and call your lender, and say so. We believe that if you cannot say something nice, you shouldn?t say anything at all. That?s wrong, especially on your student loans. Lenders always hear problems from students, especially in the first couple of years after you graduate. Do not worry; lenders are more than prepared to work with you for a considerable among of time for your loans.

2. If there?s anything you do not understand, ask! Your question can ever be stupid. You will always have the first experience of everything. It is not important when the voice from another side of the phone gets impatient with you. It is important that you understand all the facts, so you can look out for your own best interests.

3. Keep organized records. Number one rule in everything. The paper work between you and your loan provider is your only defense when anything goes wrong in process. Lenders are human; they make mistakes all the time. When they mixed up your account with someone else, they might decide to charge your extra couple of thousands just for fun. Unless you have got the paperwork to prove your point, otherwise it?s going to cost your money. It?s that simple. Make sure that you know whom you are talking over the phone. If you cannot, don?t worry. Most company has phone records of your entire conversation. Make sure to contact with the company to obtain your record.

4. When you make a special deal of Read more…

The majority of us are not rich. Many people, nowadays, live paycheck to paycheck. Last thing we need is to get taken for an expensive ride by a life insurance salesperson whom is nowadays cleverly hidden behind the title financial advisor. There are laws to protect from the worst of cases, but you can save thousands and more by following these tips:

1. Find out what your current limits are if you have insurance through your employer. On average employers only provide $50,000 coverage if they do at all. This is not enough coverage. As a general rule you should have $250,000 – $500,000.

2. Educate yourself. Just like buying a car, you don’t want to pay full retail price. Everything is negotiable. Look up and compare whole and term life. Do your self a favor and look it up on the internet. You will see a wide range in prices for the same coverages. For instance Ameritas was less than 1/2 the yearly premium of Allstate and Met Life for the same coverages – that means a 50% savings every year for the same coverage! That amounts to thousands upon thousands of dollars saved in just a few years. Make sure you pick an A rated carrier that has been around a long time.

3. Do not buy whole life! Know that term is cheaper and a better deal. Whole life is insurance with a slight savings/investing mix. These slick salespeople get their big paydays when you sign up for whole life. Your first years premium and 3-4% thereafter goes to commissions. Therefore, you won’t see much in growth for 15 – 20 years. You would do 10X better with any good mutual fund. Don’t let them fool you with claims that your investments are tax free. Its not – per the IRS its tax deferred, not tax free. And due to the extremely high commissions you won’t ever see much growth. Just look up on the internet and see how many people amassed great wealth with whole life – you will find the answer is zero! What a rip off! Upon calling numerous experts, the only Read more…

You?ve done your homework and you shopped around, you even asked your brother in law, your neighbor and your boss who helps them with their financial planning but your still not sure. How do you know you can really trust your advisor? After all your families? financial future is riding on it!

This is becoming a harder and harder question to answer, why? There are now at least 89 different designations doled out by about 87 different financial services associations and professional institutions. Your advisor might be a CAC, CEP, CFA, CFP, CLU, CHFC, RFA, RIA, CSA, AEP, FIC, LUTCF, and there is even the ones I have RFC

Did you know that a large percentage of today?s millionaires have accumulated their wealth in one generation. No we are not talking about people who have some special education, or achieved superior investment performance, or won the lottery, or even people who inherited it. We are talking about people like you and me who work for a living but somehow managed to accumulate great wealth.

But how did they do it you may ask? Their secret can be revealed in a saying my Uncle once shared with me, that he passed down from my grandfather (an Italian immigrant with no formal education). Here is what he said, ?If you make $10.00 and spend $11.00 you will always be poor, but if you make $10.00 and save just $1.00 you will always have money.? Believe it or not it is that simple. The majority of today?s millionaires achieved that status by spending less than they earned over long periods of time.

The key difference is a change in mindset not a change in income or investment return. Most millionaires are more concerned with the independence and security that having money brings, than spending money to have the appearance of wealth.

According to recent research surveys most millionaires are not out to impress anyone with their shiny new toys. In fact, in one survey fifty percent of respondents had never spent more than $399 for a suit, $140 for a pair of shoes, or $235 for a watch. A similar survey showed that 50% of all millionaires had never spent more than $29,000 for an auto and had paid only $24,800 for their latest car. More than 36% owned cars that were at least 3 years old. When they did but Read more…