Originally posted by: Whoozyerdaddy
Ask for a copy of their credit report...
But he's not telling you what to do with your money.Originally posted by: compuwiz1
Originally posted by: Whoozyerdaddy
Ask for a copy of their credit report...
A surgeon I recently dealt with had a 536 score. He's gonna operate on my kidneys next week.
OP, here's the best reply. Since you're just getting out of school, it's unlikely you'll need more than LegendKiller's advice for now. Couple books on asset allocation, index investing and more online researching, and you'll likely know enough to just skip the CFP altogether.Originally posted by: LegendKiller
I have met several CFPs. Mostly they seem like dim-witted idiots who try to get anybody to buy something. Since it can be largely commission based they'll sell their grandma a crap mutual fund to get a paycheck. Most couldn't figure out an efficient frontier if given a book, a calculator, and the answer. I'd liken them to pyramid scheme shills. At least on the low-end.
Financial planning for most people should consist of several index funds. It's stupid to charge a crap-ton of money for know-nothing CFPs when your returns will be just as good (or better) by getting index funds.
If you want respect in finance/investments you're better served by getting a CFA.
Originally posted by: her209
They are like car salesmen, except not.
Exactly. For almost everyone under 50, just getting a diverse set of low expense ratio stock index mutual funds from Vanguard or Fidelity is enough.Originally posted by: LegendKiller
Financial planning for most people should consist of several index funds. It's stupid to charge a crap-ton of money for know-nothing CFPs when your returns will be just as good (or better) by getting index funds.
If you want respect in finance/investments you're better served by getting a CFA.
Originally posted by: alrocky
OP, here's the best reply. Since you're just getting out of school, it's unlikely you'll need more than LegendKiller's advice for now. Couple books on asset allocation, index investing and more online researching, and you'll likely know enough to just skip the CFP altogether.Originally posted by: LegendKiller
I have met several CFPs. Mostly they seem like dim-witted idiots who try to get anybody to buy something. Since it can be largely commission based they'll sell their grandma a crap mutual fund to get a paycheck. Most couldn't figure out an efficient frontier if given a book, a calculator, and the answer. I'd liken them to pyramid scheme shills. At least on the low-end.
Financial planning for most people should consist of several index funds. It's stupid to charge a crap-ton of money for know-nothing CFPs when your returns will be just as good (or better) by getting index funds.
If you want respect in finance/investments you're better served by getting a CFA.
Investing forums
The Four Pillars of Investing by W. Bernstein
All About Asset Allocation by R. Ferri
Why Smart People Make Big Money Mistakes & How to Correct Them by G. Belsky & T. Gilovich
Originally posted by: Modular
Thanks for the replies. I've been offered a job at a firm and I'm trying to decide whether or not to take it.