The Future of Financial Planning

Mel wrote -

> My husband and I took a gamble and used
> American Express' financial planning
> services. The counselor was just amazing!

Excellent story. When I started the consulting contract I'm on, my income took a jump upward. Someone had previously recommended a CFP to me. This gentleman is also affiliated with American Express. I knew from my own investigation that I wanted a fee based planner mainly because I didn't want them hawking financial vehicles just so they could boost their commissions. Kelly is *exactly* what I was looking for. He's already probably earned his money and we're just getting started. For example, when I was laid off I had a small amount of money in the company 401(k). I was told I had to roll it over or take the lump sum. I knew I didn't want the lump sum because I didn't want the tax hit. I really wanted to roll it into a SEP-IRA or a Keogh plan since both of those plans are for self-employed individuals. Unfortunately, my 401(k) funds could only be rolled into a traditional IRA. I couldn't figure out what to do. Kelly to the rescue. He set up a traditional IRA and we rolled the funds into that. Once we get everything else setup we can then just roll the IRA funds into whatever vehicle we choose. Sweet, huh?

Rick Smith, "The Net Guerrilla"


The Online Home of Guerrilla Product Developers

Hi Sandy,

That's a great point.... I think there is a probably a big "hungry crowd" among many baby-boomers....

I believe it is never too late to get things going and working, and this holds for the group you mention too, Sandy.

One of the best things they could do is to hang out with the right people -- people who ARE doing things right. Just by spending time with such people, they'll find themselves starting to think the same way, and start to move towards having the same kind of success....

Most highly successful people are generous with their advice, I've found, as long the person asking shows them that they really do value and appreciate their advice and knowhow.

- Dien Rice