Advice - where to get the right financial advice?

[~Ash~]

I am really keen to sit down with someone and make a financial plan for DF and I for over the next few years.

It's not so much about a budget for right now - I can do that kind of thing myself. It's more getting advice on which options and choices are right to land us in the best position or the future ITMS.

I was planning on seeing the financial planner at the bank to start with but after realising they charge (first consult it free) I thought it would be better to pay an accountant or proper financial planner the money and not be up for a sales pitch for the banks products.

I'm just not sure where to start and would love some advice as to which direction to go.


**Sent from my phone using Tapatalk.

[M D]

It all depends what you want to do: save for a deposit for a house, do you have an exisiting mortgage and or debts, save for retirement. PM me if you don't wnat to put these things on here.

I was a FInancial Planner before having children so I might be able to help out a little.

[BellyBelly]

I love Robert Kiyosaki - check out his book Rich Dad, Poor Dad. I think his wife has a book for women too. Learnt heaps from them! Its amazing what you can learn by attending money seminars, just have to pick the right ones. I've also been to Millionare Mind Intensive (T Harv Ecker) and Dr. John De Martini - did a review of one of his talks and posted it in here. They are all on FB if you are on there, can add them and get their tips and advice. Financial education is so important, without it you can make mistakes. Just like you wouldn't do a job without the training....

[~Ash~]

We have saved up a deposit for a house but also have debt we are paying off. We've decided to put off buying a house for about a year because we are in a pretty good position to save money at the moment.

I'm wanting to end up being in the best position possible at the time we buy but I'm not sure what steps to take or even what the options are to get there. Pay off existing debt? Save more money? Invest what we have to increase our returns?

I would love your opinion - I will pm you the details. Thanks so much!


**Sent from my phone using Tapatalk.

[BellyBelly]

Here's Robert Kiyosaki's FB page: https://www.facebook.com/RobertKiyosaki - he recently won an award for the most popular finance expert of 2011.

"If you want to be rich, you must have a financial education and control over your money and your investments."
"Savers are losers because interest rates are lower than inflation"
"One of the reasons the poor are poor is because they do not invest money or time into their financial education."
"Careful who you get advice from. I get advice from people who are where I want to be."
"An investor’s most important tool is information. Without good information, and an education to understand it, investing becomes guesswork."
"I do not save money or have a retirement plan. I keep my money moving buying cash flow assets. These assets are my retirement and savings."
"Most people put money in their piggy bank. I buy a goose that lays golden eggs over and over again. That’s what an asset is."
"Financial planners are salespeople. They are NOT teachers. Get your education from someone NOT getting a commission." (sorry kts64s not having a dig, just sharing)
"My rich dad said, “Most people struggle financially because they take advice from sales people, not rich people."

[~Ash~]

Thank you so much for the advice Kelly! I'm definitely going to look into all of your suggestions. I would love to be very knowledgable in this area.

I've always been a bit suspicious of financial seminars - are they usually a sales pitch for a product of some kind?

I actually have 'rich dad, poor dad' in my bookcase! DF owned it before he moved in so I'm definitely going to give it a read.


**Sent from my phone using Tapatalk.

[BellyBelly]

I still am very picky which ones I attend. If they are run by banks, advisory firms etc then I don't bother. If they are people who walk their walk, are recommended by other successful business people I follow then yes I will listen and decide. Kiyosaki has just published a book with Donald Trump, called The Midas Touch. Love him or hate him, you couldn't get any more successful than that. Anthony Robbins is also highly ranked and regarded by prestigious organisations for his business and money advice, including top accounting firms around the world, American Express and more. These people have made it (and you don't without knowing a thing or two), I want to learn from them.

[PinkPalace]

I was planning on seeing the financial planner at the bank to start with but after realising they charge (first consult it free) I thought it would be better to pay an accountant or proper financial planner the money and not be up for a sales pitch for the banks products.



DH is a FP for a leading bank and i can tell you that it a big misconception that bank planners are NOT proper planners.
He has the highest qualification in the country - more than most roper: planners as you call them

You will find that every planner is limited by their governing licenced products. It doesnt matter who they are or who they are employed by.
what you need is to find a PERSON with skills, knowledge and ethics. this is much more important than who they work for!

also, shop around, and dont take advice from anyone not registered to give it.
Unfortunately people charge for service.
A dr wont give you medical advice without a fee
and accountant wont give accounting advice without a charge
a lawyer wont give law advice without a charge.

it baffles me why people have a huge issue paying a FP for their experience and education. It is a professional service and you just need to find the PERSON that clicks with you.

HTH
x

[Astrid]

I saw a FP at our bank. I am quite happy with the service/advice we got. Cost $770 for both of us 4 years ago. Yes it was a lot, but we had a stupid amount of Super funds that needed to be rolled together and I had struggled with doing it myself, as it was not easy to remember a job and home address from my late teens/early twenties (I had a few crappy jobs). Often they would talk to him, but not me.

I have seen him since and not been charged, but that could also be due to us having the bank super product (which has been returning very well).

His advise was quite sensible. Basically pay down debt, in particular mortgage, as you don't want to be using your Super payout on retirement to finish paying it off. He gave us a time schedule, as in keeping high risk, high return until a certain age, then going more conservative. He also helped us out with income protection, life insurance etc. He even recommended non-bank products.

I certainly think one is worth seeing in your scenario. Also have a chat to your bank as to what they consider for loans, things like existing debt and available credit card limits will affect how much they can loan you. Best of luck, it is a good thing that you are thinking about your future.

[Epacris]

We shopped around and saw a few different finical advisers before we found the one that suited us. If you Google "financial advice commission v’s fee based", you will find lots of good information. In the end we chose to go with an independent fee based financial advisor. I am an extremely skeptical person by nature and I just could not ever go with a commission based finical advisor, it just wouldn’t work for me.