Free financial planning?
Wednesday, March 10th, 2010I am looking for financial advisors that will help me write out a personal financial plan to be rich and financially free. FOR FREE. Not looking for free sites or information. I’m looking for actual professionals, or students working towards being professionals to help me. Robert T.Kiyosaki fans a plus.
Many stock brokerage firms, mutual funds, banks, and insurance brokers will be happy to provide you with such free services. They do so in the hope that you will take their advice, which typically includes making investments of the type they sell.
Insurance brokers will tell you that the first thing you have to do is buy a life insurance policy with a built-in savings feature. They make big commissions on such policies, although the best insurance is term life insurance on which the commission is small because the insurance is cheap.
A stock broker will give you a list of stocks or mutual funds in which to invest. The funds are those the broker sells and that have an up front commission for the broker, although there may be many other funds that do not have an up front charge and may be more suitable for you.
This does not mean that all the advice will be bad, but you should be careful about accepting free advice. The adviser is taking his time to help you, and has to earn an income. To get the most objective advice, you need to find an independent financial planner and pay his fee
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