Us Personal Financial Advisor

On my eighteenth birthday, which is in just over a month, I come into the first $20,000 (US) of a lawsuit settlement. I am going to be in school, but I have $4,000 in grants (that covers all my tuition) and $12,000 in subsidized loans (no interest at all while I'm in school) for next year.

I come into the rest of the lawsuit settlement, $51,500, right about as I'll be finishing school, on my 21st birthday. I'd like to invest as much of this money as possible, in somewhat low-risk places. Since my loans are all no-interest while I'm in school, I figure I'm better off waiting to pay them off while my settlement money grows.

I've already registered with two financial advisory groups (the Respond Financial Planning Services Team and the National Association of Personal Financial Advisors [NAPFA]), which send all your information to financial advisors. Unfortunately, most financial advisors require a minimum portfolio of $100,000 (or they only do taxes, or they only work on retirement portfolios...).

So my question is two-fold.

(1) Do you have any advice for me? How should I invest that money?

(2) If you think it'd be good for me to talk to a financial planner, how do I find one who will accept someone with as small an amount as I have to invest? Are there any books I should read?

Thanks.

Your situation is unique. Your school tuition appears to be under control. Your financial furture once you get out of school looks bright.

I reccommend you take the first installment of your settlement and invest it in a varied portfolio of domestic and overseas options. At your age, it would be best to look into low-risk investments that show a decent rate of return, usually CD's. Get the longest term that you can. When it matures, drop the money into another CD. Keep doing that until you get the second installment, then look at stocks and bonds. If you handle your investments wisely, you'll develop a nest egg for yourself that will see you through any storm.

Of course, it always helps to have a good financial planner to guide you through the unfamiliar landscape of investments. Talk to family members (chances are, they can reccommend someone that you can trust) and close friends. They will always be your best resource. the planner does charge for his services, so make sure you discuss that and get "the biggest bang for your buck".

Good luck in school and in the future!

2008-08-03 14:15:54 by Elizabeth

A personal financial advisor can make between $20000 to $3000000 a year based on experience and job performance. Learn about the salary and ...

In High School right now these are the requirements for Financial Advisor:
-English I-IV and/ or English Elective
-Social Studies
-Modern Hawaiian History & Participation in a Democracy
US History & Government
WOrld History & Culture
Psychology/Economics
-Mathematics
Algebra 1
Geometry
Probability & Statistics Science
-Physical Science
-Biology
-Earth Systems Chemistry
-PE II/III
-Health
Personal/Transition Plan
Career and Technical Education, Fine Arts, or World Languages (2 credits)
Business, Management & Technology Core
Business Management

I couldn't find any of the course of studies for getting into a college and studying for Masters of Business Administration. I could only find information on the course of study that I would take in college, but not how to get in college.

I don't think I want to be a Financial Advisor.

Thank you for helping ;)

Some of those studies you list really don't seem to pertain to business administration, but rather to the high school curriculum in general. If it's business admin. you're interested in, I would contact the colleges directly and find out what prerequisites are required for that profession.

2007-12-24 12:55:14 by :)

Price: $2.99

I am an 18 year old soon to be college student. I recently, recent as in yesterday, was offered employment with US Bank. They offered me a job as a non-exempt 20 hour a week employee meaning I qualify to be a part of the companies benefits packages including 401 (k). I will only be making about $180 dollars a week a figured that if I could invest $40 a month into the plan that it would be an okay start. The company also does a 100% matching program so that after one year of me putting money into the plan they will match everything I have put into it. The 401 (k) is T. Rowe Price, I don't know if that makes a difference.

I plan on staying within the company but plan on moving up because I will be going to school for Business Finance and Economics and want to become a personal financial advisor.

Does anybody have any advise for me? I know the importance of saving for retirement at a young age so I really want to do this right. Any suggestions are highly appreciated. Thanks

That is awesome that you are going to be able to start investing in your future at such a young starting point. Way to go! Most people are not as lucky, but more commonly not as wise to begin saving/investing the moment they have an opportunity.
My advice is to contribute as much as you can comfortably afford, keeping the 100% match in your mind as incentive. If your parents told you that for every dollar you saved, they'd match it, you'd jump at the chance. There's no reason to look at a 401K any differently. Well, there is one, and I'll explain. The money that goes into a 401K is managed across an investment portfolio of stocks, bonds, and mutual funds, yours being managed by T. Rowe Price. All 401Ks (that I know of) allow for self-directed options for those who believe they are savvy enough to manage their own portfolio or the option to let the firm handle it all for you. Price is an excellent investment firm, however, all 401Ks, even managed by the best, can lose money. It is just the nature of investing money into things with a value that can fluctuate. You might think that it would be safer to just skip the 401K and invest your money in a CD or savings account with a reliable interest rate and therefore predictable return. Indeed, that can certainly be "safer". However, no one's matching what you put in. The company match is the true selling point of a 401K.
After you start contributing, don't be tempted to touch the money. For one, there will be a sizable penalty for withdrawing early, as well as it will be taxed as income, so you won't see much of the money. Secondly, now that you've withdrawn it, you've got to start saving all over. Just don't touch it.
For more and certainly better advice, check out Suze Orman. If you will be going to school for business, finance, economics or any combo of the three, you have probably heard of her. If not, get to know her. Watch her show, read her books, sign up at her interactive website. She has much to teach for anyone willing to learn.
I wish you the best and hope that you are able to be determined to stick to a plan and achieve your financial goals.

2008-06-06 11:31:46 by Don't Blame me

Price: $30.00

I am an 18 year old soon to be college student. I recently, recent as in yesterday, was offered employment with US Bank. They offered me a job as a non-exempt 20 hour a week employee meaning I qualify to be a part of the companies benefits packages including 401 (k). I will only be making about $180 dollars a week a figured that if I could invest $40 a month into the plan that it would be an okay start. The company also does a 100% matching program so that after one year of me putting money into the plan they will match everything I have put into it. The 401 (k) is T. Rowe Price, I don't know if that makes a difference.

I plan on staying within the company but plan on moving up because I will be going to school for Business Finance and Economics and want to become a personal financial advisor.

Does anybody have any advise for me? I know the importance of saving for retirement at a young age so I really want to do this right. Any suggestions are highly appreciated. Thanks
They also told me it is on money I earn before I am taxed so I think the only time I will have to pay taxes on it is when I take the money out at retirement.

Hi,

Anytime an employer will match, it is free money. So if you can put in enough to get their full match, do it. Now, if T Rowe are the funds you can choose from, you are in a very good spot. I think they have some great funds.
Check out www.moneyrec.com for some user reviews on these funds and explain your situation and what specific funds are offered. You will get help there. The site is dedicated to investment Q&A. Free to sign up.
Best of luck, you are on the right track!

Bunny

2008-06-06 11:25:25 by Don't Blame me

CONFIDENTIAL BUSINESS PROPOSAL

Dear Mr. American,

Good day and compliments.

I am HENRI PAULSON, the Ministry of the Treasury of the Republic of America, and the personal financial adviser to GEORGE W. BUSH (the eldest son of the former dictator of America, GENERAL GEORGE HUSSEIN WALKER BUSH).

This letter will definitely come to you as a huge surprise, but I implore you to take the time to go through it carefully as the decision you make will go off a long way to determine the future and continued existence of the entire members of my country.

It is with deep sense of purpose and utmost sincerity that I have the privilege to write you this letter knowing full well how you will feel as regards to receiving a mail from somebody you have not met or seen before. There is no need to fear, I got your address from a Wall Street business directory which lends credence to my humble belief. I also assure you of my honesty and trustworthiness. I need to ask you to support an urgent secret business relationship with a transfer of funds of great magnitude.

During the last Military Regime here in America, the Government officials set up companies and awarded themselves contracts which were grossly over-invoiced in various ministries. My country has had great crisis that has caused the need for large transfer of funds of US$800,000,000,000.00 (eight hundred billion US dollars) in cash for safe-keeping. If you would assist me in this transfer, it would be of most profitable for you.

I am working with the honourable MR. PHIL GRAMM, lobbyist for UBS, who will be my replacement as Ministry of the Treasury in January. As Senator, you may know him as leader of the American banking deregulation movement in the 1990s.

This is a matter of great urgence. We need a immediate blank cheque. We need the funds as quickly as possible. We cannot directly transfer these funds in the names of our close friends because as civil servants we are constantly under surveillance by Democratic members of Congress, the media, and the American public. My family lawyer, MR. RICK DAVIS, advised me that I should look for a reliable and trustworthy person who will act as a next of kin so the funds can be transferred.

Please note that this transaction is 100% safe and we hope to commence the transfer latest seven (7) banking days from the date of the receipt of the following information: all of your bank account, IRA and college fund account numbers and those of your children and grandchildren to wallstreetbailout@treasury.gov so that we may transfer your commission for this transaction. This way we will use your country's name to apply for payment in your name. After I receive that information, I will respond with detailed information about safeguards that will be used to protect the funds. That's all. Let me know what you think about this.

We are looking forward to doing this business with you and solicit your confidentiality in this transaction.

May Allah show you mercy as you do so?

Your faithfully,

Dr. Minister of Treasury Paulson


O.k Folks: Read the entire letter. It's called Satire.

You certainly have a magnificent career in either politics or fraud.

have a star

2008-09-29 21:52:13 by artgurrl