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I am looking for effective personal / small business financial advice. What are good, honest, effective resources for this?
Are you wanting to buy into the equity market? If so, I would advise looking at low beta stocks with high dividends.
If you get into mutual funds you absolutely need to know the fees you will be paying. I think most are grossly expensive for the "services" rendered.
I trade some stocks on a small scale at a well-known internet company at $7 a trade. It's kind of fun if you study the market. Easy to do and very inexpensive.
I spend a lot of time looking at financial sites on television and believe I can trust some but not altogether sure of others.
For a beginner it might be best to look at very low cost mutual "spider" index funds. You are unlikely to go far wrong. You can also buy those directly on the internet. You won't be paying for the services of a so-called "financial expert" who may be less than honest. I have always said the worst thing we ever did was to go to one of these guys.
At this time, interest rates on CDs is virtually non-existent. You can probably get better rates from money markets and have immediate access to the money should you need it. I regard bond funds as a real crap shot at this point. I would avoid those like the plague.
You might consider muni bonds if you study the market. But make sure they are well grounded. Some are very dicey. Good luck.
If you know absolutely nothing about investing, you might want to try your bank's finance/investment advisor. All the major banks have them from Wells Fargo, Chase and B of A, etc. If you're looking for something slightly more involved, going through a broker like Charles Schwab, Edward Jones, etc. may be the way to go. It's easier to trade these days with online stock sites, but sticking to the big boys is always a good route to start.
I am looking for effective personal / small business financial advice.
What are good, honest, effective resources for this?
1) Your term "financial advice" is really too vague...
2) Your CPA should be able to manage 90% of anyones needs and most importantly...
know what you *might* need others help for and who to seek that help from.
Some time before your personal portfolio/status and/or business financial world
expands too terribly far get yourself a few books to learn the language and basic formulas.
If you know absolutely nothing about investing, you might want to try your bank's finance/investment advisor. All the major banks have them from Wells Fargo, Chase and B of A, etc. If you're looking for something slightly more involved, going through a broker like Charles Schwab, Edward Jones, etc. may be the way to go. It's easier to trade these days with online stock sites, but sticking to the big boys is always a good route to start.
I didn't want to spend the fees on a ad visor so I educated myself. I took a investment course online, called Fidelity for clarification, took investment courses at a local community college. Started from there. I figured I was paying enough for mutual fund and stock fees and it's good to know what's going on with your money.
I don't know about any other brokerage firms but Fidelity will give you advice and guidance free. I've spent many days on their chat or phone asking a trade specialist different questions.
They don't mind and it's free.Many advisers are going to up sell you to make a commission instead of giving sound advice. If you do decide to get a ad visor, get a recommendation from someone that has used that person. Make sure your adviser is not a sales person.
I am looking for effective personal / small business financial advice. What are good, honest, effective resources for this?
The Vanguard website has a lot of info as does E*Trade.
The Wall Street Journal publishes a lot of good guides that can be had for a song used on an Amazon.
Morningstar is also very interesting.
If you know absolutely nothing about investing, you might want to try your bank's finance/investment advisor. All the major banks have them from Wells Fargo, Chase and B of A, etc. If you're looking for something slightly more involved, going through a broker like Charles Schwab, Edward Jones, etc. may be the way to go. It's easier to trade these days with online stock sites, but sticking to the big boys is always a good route to start.
In my experience banks are usually horrible sources of advice. They typically put people in mutual funds that charge very high fees...good for the bank but not the investor.
But I agree that the question here is too vague. What kind of financial advice are you looking for? Budgeting? Insurance? Taxes? investing? Estate Planning? Setting up a retirement plan?
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