Should I or shouldn't I become a financial advisor?  If you are an FA please respond.  What should I expect?
108756
You will work alot of hours at least at first to generate consistent income and you become proficient at setting appointments and making sales. I have seen many people fail because they have severe call phobia(they freeze up on phone) or even get very nervous when meeting with clients. If you enjoy learning about insurance and investments and like to help people then go for it. It would be best if you could have some mentor you for a while until you get good.\n\nextra info:\nYour main role will be to talk to clients and get a feeling for what their goals and concerns are. Based on that you will recommend different insurances or investments to reach those goals. You will generally not be picking stocks or trying to figure out what way the economy is going.
724026
Oh dear, your situation sounds dire. \nIn investing, there are risks to be taken, sometimes you may lose money but mostly, you can't touch your money if the market is down and your market is lock-down for an unknown period of time. Are you prepared to lose money? Or are you prepared NOT to touch your invested money for the next 20-30 years?\nI would think that your current financial background is not as strong, therefore, you should not be thinking of investments at this time. \nGet your fundamentals right first. The above answers are sensible, get a degree, get a good job that pays you maybe $3-$4k/mth, then you would have spare change every month in excess of $1k to invest.
144188
Rich, you should avoid blanket statements.\n\nStarting with CFP's is a good idea. you can use the Financial Planning Association's Planner Search feature on their website (www.fpa.net) to find a list of CFP's near you.\n\nAs far as annuities go, they have their uses. To assume that an annuity is wrong for you without knowing anything about you is not very objective.\n\nDon't be afraid to ask hard questions when interviewing planners.\nQuestions to ask:\nHow do you get paid?\nWho is your broker/dealer and how do you determine what financial products to use?(Some B/D's apply pressure to their representatives to sell proprietary products over others. You want to avoid this.)\nHow long have you been providing financial advice?\nDo you have clients that would be willing to talk to me about your services? If not, why?\n\nIf the planner gets nervous or evasive about answering these questions, don't bother asking any more questions. A trusting relationship with a worthy financial planner is an incredibly valuable relationship.
354383
You should definitely switch careers if your current job is not making you happy. It's especially true since you have no family obligations at this time - it's the best time to try something different.\n\nI made a switch from a lucrative career in consulting when I got tired of the job. I am now a writer, part-time stay-at-home Dad, and office administrator. My financial status is completely different now, but I'm glad I made the change when I did.\n\nGood luck!
883243
They are called "financial advisor" but it is really a sales job.  Having worked in the field and having had my series 7 and worked for a nationwide firm, I wouldn't do it again if my life depended on it.  I had an undergrad in Finance and an MBA from a major university and had worked my way up to Assistant Vice President in a nationwide bank - I decided to change jobs and took the offer too.\n\nI knew a lot about investments (securities), stock market, economics, etc.  But, what I DIDN'T know was how to sell.  \n\nWhat they don't tell you is that they would rather hire a car salesman who can sell, versus hiring someone like me that understands investments and can't sell.\n\nAfter that fiasco, I went back and obtained 30 hours of accounting so that I could sit for the CPA exam and by doing so, also obtained my 2nd bachelors since I already had all the other crap from doing my finance degree, and I took and passed the CPA exam and work in accounting.\n\nIf you don't have a LARGE and I mean LARGE circle of friends and family that you can sell to, or you aren't comfortable selling anything to anyone, then it might not be the right field for you.  \n\nBest of luck to you.\n\n\n\nEDIT -\n\nOne last thought -  have you ever wondered why you see so many of these positions being advertised?  Turnover.  Makes you wonder, huh?\n\nGood luck to you.
436743
You should invest your life savings. Truly, you should. Just send it to me and I will handle that for you.
349626
However much money you want to put into it.  A lot of times it depends on which company (Edward Jones, Vanguard, Fidelity, etc. etc.) you want to start it with and if you already have accounts w/these companies or not.  If you get a mutual fund through a company and you have a full-service one, then you will have to pay fees/commissions but its not much (like 5%) and its TOTALLY worth it b/c then you don't have to worry about, manage it, or diversify it.  And once you have the mutual fund, it will always grow unless there is a recession in the economy or a big stock market decrease.
785943
A very difficult question to answer. I see that you have a previous response that said yes and one that said no.   The problem is that no one knows for sure what the future might hold.  Here is what I suggest that you consider doing.  Take the amount that you considered investing in mutual funds and split it into 4 equal parts.  Invest one part now into a mutual fund that you think is good.  The other 3 parts place into a guarnteed account, bank account or short term government bonds.  Six months from now, invest the 2nd part in the mutual fund if the fund has increased in value.  If it has not, do not do anything.  Six months later go through the same exercise.  That way you are not risking more than 1/4 of your funds initiially.    And always keep 1/4 in reserve in case there is a terrible stock market crash.  That is the time that you can invest and make a lot of money so save for that event.  Crashes come more often than most people want.
634009
I would suggest that you talk with someone in your bank to begin with. They do have experts in the field.\n\nNow, I have my 401K with Fidelity and like them fine. They are huge and offer many different investment options. They also can give you pretty good advice if you tell them what kind of investments you are interested in (long-term, very stable, higher risk but higher pay-off, gold - not a bad investment these days). \n\nI also have some stock through Scot Trade. It costs only $7 per transaction no matter how many shares you are buying or selling.\n\nNo matter what you do, understand that people can and do both make and lose money in stock markets and real estate. \n\nAnd as strange as it may seem, some of us are able to make over 50% return on our investments per year. Right now, today, I am out of the market and waiting to go back in. *grin*
395014
That is so sweet.  You sound like a wonderful person.  Me personally, I picked mine because it seemed like something that I always did naturally.  Finally one day I thought that I should get paid for it.  I am working on becoming a financial planner helping the middle class.  It is great to see them work their way out of debt, save money and live fuller lives.  *hugs*
428109
I don't think those subscription services are what you need.  The problem with most of them is that they are over hyped and usually don't account for real world practice and conditions.  If you want to make a lot of money on the market you got to do your own research.  Think about it,  if the subscriptions are that hot why do they tell other people about it?  I am a licensed adviser and I have seen too many people looking for the short cut and after being disappointed a few times quit the market all together.  I would recommend you to look at some thing like the Motley Fools or IBD and look at what they like and why they like what they like and then do your own research on the company or fund managers.  When you buy a fund you are betting on the management's ability to beat the market, that is all.  Another thing, this I learned myself after thousands of dollars worth of market lessons.  Don't try to time the market.  There are to many factors that we do not control.  The consistent way to beat the market is through figuring out the fundamentals and let time do the growing for you.  Market timing and refusing to cut loses are two sure way to decimate your portfolio.  So be careful and do your research before sinking your hard earned dollars.
418707
I' am currently an intern at MORGAN STANLEY. I work with a lot of Financial Advisory/Planners. They get paid through commission and sometimes salary and you can make up to $150,000,  but at the same time you have a quota system to meet. If you don't have more than Million of Dollars invested in your clients portfolio's than your gone.
165893
I'd be leery about winning email services from a financial planner.  That sounds like an opporutnity to clear out your bank accounts.  \nThat major concern aside, here are some questions/issues I work with my financial planner on.  I've discussed my current income, outside sources of income, various debts, and my different current and future assets.  To help give him a full picture of my financial state.  Then, I speak with him about my goals and my current saving levels, such as how much money I have going into my 401K and Roth IRA.  \nWe've also discussed various alternative investments, such as real estate, collectibles, etc.\nJust becasue you have "won" these services, it doesn't mean you should accept them because they are free.  Its a good idea and highly recommend to speak with several planners before you start working with one.  Think about it, they are working for you.  You should interview them as you would interview someone applying for a job at your company.  The planner needs to be right for you and you need to feel comfortable with him/her.\nAlso, many financial planners don't charge for their services.  My planner works at my bank, so his service is "free" because of all the banking I do there.  However, he gives me good investment guidance and I am free to make the choices of funds and such that I want to make.  In exchange for that, I have my Roth IRA through them and he gets some commission for my trades.  Its a fair trade off for his guidance.
1076870
A financial advisor gives you stock IRA advice and such (they actually need a lot of credentials).  A personal banker is a glorified teller/new account sales person.
373813
I would seek independent professional advice.\n\nWith a sum that size they would pay for themselves even if only in terms of money saved on taxes etc, and they will be able to advise on a range of investment opportunities and the risks and benefits of each.
905949
find a trustworthy financial adviser to help you invest it.  it should earn an average of at least 10% a year or more..  if you're not earning that much after five years, find a different financial adviser..    it can mean the difference of millions of dollars in the long run..
95161
Quickie:\nA risk you took is about to pay off. Think about how you'd like to spend a windfall.\n\nOverview:\nLook for ways to energize your life and bolster your sense of self-confidence. A good way to start is to discover what's your inner truth. Take your first step to growing your sense of personal power.