After just a couple of meetings, a professional adviser gave me suggestions that increased my savings many fold in the following 40 years. I have to invest in my license, in addition I have to sign a contract with this Financial Group. One must be registered and affiliated with an SEC or a state Registered Investment Advisor in order to practice as a fee based financial planner. If you want to start in 5 + years….try to get some experience in the financial services industry and determine if it’s really for you. Hmm I’m glad you wrote this because I had no idea that you could become a financial planner without any real training! The CNBC list required that all firms be fee-only when it comes to investments.
It’s kind of funny actually because that would mean that it’s possible for me to hire a financial adviser who knows less than I do.fascinating. I feel very blessed and hope to share my personal financial experience and professional wisdom with readers of WealthPilgrim. Please contact an independent financial professional for advice regarding your specific situation.
The information contained in is for general information or entertainment purposes only and does not constitute professional financial advice. In accordance with FTC guidelines, we state that we have a financial relationship with some of the companies mentioned in this website. Many financial planners say you can only safely take out about 4%-5% per year from your retirement nest egg to be near certain that you don’t outlive your savings. They contend that the statements from FSI’s website do not meet this definition.
Many people may find that working in retirement as a small business owner will give them far more income than they expect and, if you are a good manager, far more free time than holding down a conventional job would allow. Your financial adviser might not like the idea of you using your retirement funds for a business. Your current job pays $80,000 per year and, according to retirement experts, you’ll need to replace 80% ($64,000) of that to be comfortable in retirement. You see, the real problem with a regular job is they don’t let you sell it when you retire.
So, now you have business earnings of $100k miuns debt payments of $30,000, minus manager salary of $40,000 leaves the annual income profit to you of $30,000. Often people simply look at part-time retirement jobs working for companies and those part time jobs generally aren’t very attractive either from a working conditions perspective or from a mentally engaging perspective. Maybe applying your years of experience to a small business which can grow in value is a better use of your time as compared to just getting up and heading off to your same old job for thee foreseeable future. For more information, contact your financial advisor Helmi Hakim at 96520134 or SMS when line is busy.