Not sexy, but sound.The article "Living the Millionaire Life Millionaire Life was a lottery promotion from the Interprovincial Lottery Corporation that ran in Canada from February 1, 2007, to February 28, 2007. The lottery game is now discontinued and tickets are no longer being sold at lottery retailers as of February 28 2007 at 9:00pm. " by Lynnette Khalfani (December 2006) was perhaps the most fundamentally sound article on investing I have seen in any magazine. Ms. Khalfani certainly did her homework. The 10 lessons she provided are important and relevant in any economic cycle. The lessons are also consistent with BLACK ENTERPRISE's Black Wealth Initiative and should be re-emphasized in every issue. Sure, these 10 lessons are not as sexy or exciting as buying and selling "hot" stocks, but history--and statistical analysis--proves their worth. The article "Beware of Deceptive Financial Advisers" was also good but somewhat incomplete. First, none of the common warning signs you mentioned are concerns when a fee-only, hourly, certified financial planner Certified Financial Planner (CFP) A person who has passed examinations accredited by the Certified Financial Planner Board of Standards, showing that the person is able to manage a client's banking, estate, insurance, investment, and tax affairs. is hired. Second, two important professional organizations for binding fee-only financial planners were not mentioned: The National Association of Personal Financial Advisors National Association of Personal Financial Advisors (or NAPFA) is an American organization created in 1983 to aid the field of Fee-Only financial planning by encouraging interest and establishing a new level of professional standards and reputation for excellence. (www.napfa.org) and The Garrett Planning Network (www.garrettplanningnetwork.com). As one of the very few African American African American Multiculture A person having origins in any of the black racial groups of Africa. See Race. members of these organizations, I would appreciate their recognition as viable alternatives to organizations with potentially "deceptive" advisers. I find that very dew African Americans know where to turn dot independent, commission-free financial advice. I hope that BE can help educate our community by introducing its readers to all the alternatives. Keep up the good work! Bruce K Sneed, CFP 1. CFP - Constraint Functional Programming. 2. CFP - Communicating Functional Processes. 3. CFP - Call For Papers (for a conference). (R), President BK Sneed Financial Planning Financial planning Evaluating the investing and financing options available to a firm. Planning includes attempting to make optimal decisions, projecting the consequences of these decisions for the firm in the form of a financial plan, and then comparing future performance against Woodbridge, VA bruce@bksneed.com www.BKSneed.com |
|
||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion