I make about 25 grand a year before taxes, take home is between 380$ - 420$ weekly depending if my boss gives me some overtime. I’m 22, and working to finish my degree part time. I live with my parents right now, because it just doesnt make sense for me to pat rent. My credit history is so-so. I was a little foolish when I was 18, but i’ve since repaid my debts and im working to establish a good credit history.
I want to see a financial planner or an accountant. Someone who can help me manage my student loans, income, and savings. Maybe even teach me a little about investing. (I really want to start saving/preparing for my future now.) I am willing to pay for these services, but will anyone decent take me on as a client? I’m worried that if i contact reputable financial planning firms in my area they will laugh me out of there because of my income and credit. What do you think? And is there any company you can reccomend?
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June 2nd, 2010 at 8:12 am
If financial planners laugh at you, they are the ones who are stupid.
It is very smart to start saving and investing while you are young. For now, I would advise you to stick to savings and make sure that you only bank with a bank that is FDIC secured so when they go bankrupt, you will get your money back.
I can recommend Moneywise Inc, Flanders NJ (973) 927-1040. Ask for Lori Howard. I flew in from The Netherlands and was most pleased with their services.
June 2nd, 2010 at 8:12 am
A very good idea to see a financial planner. You would pay a few any where from 500 to 2k depending on what you want. Ask family if they have anyone they use. Get someone close to where you live so you can sit down and learn
June 2nd, 2010 at 8:12 am
It is never too early to start. Go to daveramsey.com and click on the "Financial Peace" university link. This is a class that you can go take that will teach you all kinds of stuff about financial matters. There are a lot of bad financial advisers out there, and you want to know what you are talking about before getting bamboozled by one of them. I commend you for taking charge of your financial life so early in your life!
June 2nd, 2010 at 8:12 am
It is not how much you make, but how much you want the planner to manage. For example, you could make $10ka year, but if you inherit a half mil, you might need a planner to help U with that money. I don’t know what the minimum would be. If they charge an hourly fee, the planner may not care. If they charge a percentage of money invested, surely they will have a minimum.