Christian financial advisor?

Discussion in 'Money Talk$' started by webdog, Apr 5, 2008.

  1. webdog

    webdog
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    Anyone recommend a good christian financial advisor? I live in Ohio, but I suppose local is not necessary. I just want to hire one who is not pushing the funds paying the highest commision to them, someone that will give me good, honest and ethical financial advice. I know christians aren't necessarily that always, but someone who understands giving back to God is needed, something a lost advisor wouldn't understand too well.
     
  2. givengrace

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    Financial Peace University

    Have you heard of this class? It's by Dave Ramsey.

    I am starting it in a week at church. I've heard a lot of good things from people who took the class and actually use the program.

    Here is a link http://www.daveramsey.com/fpu/home/


    You can check a church in your area doing classes. It's really big where I live several churches are doing it. Ours were only advertised to our church and 180 are already signed up.
     
  3. webdog

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    Yes, our church is offering the financial peace university by Ramsey...but I was looking for an acutal financial advisor for investment / planning services.
     
  4. Steven2006

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    It is my experience that you would be much better off if you handled it yourself. Spend some time educating yourself on investing, and you will do a far better job looking out for your own welfare than others will.
     
  5. billwald

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    Agree with the last post. Read "Rich Dad, Poor Dad." Get it from the library. Maybe they have the video.

    If you had brain cancer would you go to the best doctor or the best Christian doctor? <G>
     
  6. webdog

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    I'm looking for a CFP that can handle investing in the market and bonds. I can do real estate myself (I am an REI). I'm not a broker, so me investing in that field would be similar to me performing surgery on myself to eradicate the cancer.
     
  7. Steven2006

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    If you don't want to learn how to invest your own money stick to a good family of no load, low cost mutual funds such as Vanguard. Diversify within those funds, and dollar cost average into them on a consistent schedule. Handing over your money to a broker to trade as he chooses is a receipt for disaster.
     
  8. Steven2006

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    https://personal.vanguard.com/us/funds/vanguard/bytype

    Here is a link. If you click on an individual fund, it will give you more information about that fund. Look at the strategy of the fund, and how it aligns with your objectives. The Wellington Fund, is a good conservative fund to get your feet wet.

    The first thing you need to do is sit down and address your risk-reward tolerance. Then after you do that you need to decide what is the goal you want to achieve. Such as is it most important to have some income from these funds, or capitol appreciation. Then please read a couple of books just to familiarize yourself with the markets, and choices. Then after studying the funds choose a variety that will give you diversification and balance. Then make sure you do not put in a lump sum, but rather dollar cost into the funds. Either the first of every month, or the first of every quater
     
  9. webdog

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    I agree that allowing a broker free reign is a no-no, but sometimes we can be just knowledgeable enough to become dangerous to ourselves. When it comes to my family's future, I would like a CFP, someone who does this for a living. That is why I was looking for a believer who is also a CFP and fee only, so their motivation is growing my portfolio so they get paid, not receiving commission from a fund. I appreciate the link though, I will definately familiarize myself with it.
     
  10. Steven2006

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    I agree, and I would never recommend someone start out buying individual stocks. But believe me you can do better yourself with a good mutual fund company, rather than paying someone else. The top quality fund companies have the expert advise you are looking for. Start out slow with some balanced funds (mixture of stocks and bonds), and maybe stick to index funds (they mimic the results of indexes such as the S&P 500). It is not hard at all, and much better to learn what you are doing and have a handle on it yourself. You are a smart guy, smart enough to have earned the money, trust me you are smart enough to invest in mutual funds. Just remember to choose no load funds, and low cost funds. That is why Vanguard would be an excellent place for you to start. If after reading about the funds, you have any specific question, feel free to PM me and I would be happy to answer them. I have been investing for probably thirty years. Trust me, you don't need to pay someone. You also might want to pick up some basic financial magazines, such as Kiplinger's and Smart Money.
     
  11. webdog

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    What do you charge, I'll hire you! :laugh:
     
  12. Steven2006

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    Since we are both brothers in Christ, I guess the brother-in-law price, nothing. :laugh:

    Seriously I would be happy to help you get started, if you would like. I think our situations are very similar other then me being older then you.
     
  13. TomVols

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    I may be able to help, too.

    You can find fee-only planners in your area by going to http://www.napfa.org/consumer/planners/

    These are planners who charge a flat fee. They are typically not commission-based.
     
  14. ReformedBaptist

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    You stole my thunder. Fee-based advisory is a way to go, and not necessarily with a planner affiliated with a broker-dealer who offers a fee-based money management program. You can look for a good RIA (registered investment advisor).
     

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