A number of readers have asked about Financial Planners. Do I know any good ones…and so on.
This morning, we look at the problem of finding a good one and we give you some ideas to kick around during your search.
Ultimately, though, the problem is that any kind of financial “planner” can only be as good as their vision of the future. While that has worked in the past, like the old disclaimer says: “Past performance is no assurance of future....”
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While I don’t agree with everything he ‘preaches’ I think that Dave Ramsey does a decent job of bringing the basics to people – spend less than you earn, stay out of debt, buy with cash and save. It’s a simple goal based program. He’s readily available on the radio and Internet.
I agree, though I’m left cold with his idea that you should maximize income after financial critical mass so that you can give it away!
WHY?
I was an investment advisor for years. Here’s the bottom line, most in the profession only care about what is best for them. It’s an industry that attracts the most greedy among us and often in combination the most intelligent,that is scary. I agree wholeheartedly with the prior post, Dave Ramsey is the real deal. Dave’s advice is simple and it works all the time.
Hi George,
An excellent topic for PN might be how those who are excellent one man operations can expand beyond their own personal efforts. Trump didn’t build everything with his own hands. He recruited, directed, supervised, and utilized the efforts of layers of employees. This is a skill that’s not taught anywhere(that I know of), and one man businesses are inherently self limiting, though the limits are high.
For example, once someone owns several houses/rentals, and they are paid off, and he wants to go to Australia for a year, how does he organize and control such an operation and still remain profitable and lawsuit free?