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I am looking for personal / small business financial advice. What, in your experience, have been the best resources for this?

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Local university MBA or JD programs offer free advice to local small businesses for practice for their grad students.

Depending on your geographic location (i.e. you're located in San Francisco, New York City, San Francisco, or San Francisco) you may have a small business "incubator" in the area - use that as a google search term. They are venture capitalists/angel investor groups that set up office spaces for small business owners, usually in the tech field, and can offer advice, sometimes in exchange for partial ownership.

If you're religious or can pretend to be, ask your local church leader if anyone in the community would help you for free.

You could also try reading a book on business.

hmm ... let me think .... how about your favourite Internet forum?

Google

Wu Tang Clan

Fee only financial advisor/planner ..Stay away from any financial advisor's that sell.

The one book that has helped me over the years has been:

Personal Finance for Dummies
http://www.amazon.com/Personal-Finance-Dummies-Eric-Tyson/dp/111...

Crazytree said:   Wu Tang Clan

Correction, Wu Tang Financial - http://www.comedycentral.com/video-clips/tw2ltp/chappelle-s-show...

Crazytree said:   Wu Tang Clan
CrazierRus said:   Crazytree said:   Wu Tang Clan

Correction, Wu Tang Financial - http://www.comedycentral.com/video-clips/tw2ltp/chappelle-s-show...


We got to diversify yo bonds, *****.

Suze Orman duh

I just read Investor's Manifesto by William Bernstein which has excellent advice. It should be available at your local library. There is also bogleheads faq and forum for extra help.

Most colleges have a group called SCORE. (Service Corp of Retired Executives maybe?) It's a volunteer organization that you can talk with about small business matters. If you google it you will find it. Might be a good place to start.

ryoung81 said:   Most colleges have a group called SCORE. (Service Corp of Retired Executives maybe?) It's a volunteer organization that you can talk with about small business matters. If you google it you will find it. Might be a good place to start.

They are active in lots of communities and not just colleges. I don't have first hand experience, but if you get matched up with the right person, it could be incredible. SCORE is full of people who have "been there, done that" and want to help others do the same.

LLCPenTesTr said:   Fee only financial advisor/planner ..Stay away from any financial advisor's that sell.

In concept, this always sounds good. In practice, it is another story. "Fee-only" financial advisors come in two basic flavors:
1)They earn AUM (assets under management) fees.
2)They don't earn AUM fees.

Those who earn AUM fees sell. They many not get paid by the product, but they are still getting paid for you to take action and follow their recommendations.

Those who don't earn AUM fees (or commissions) don't sell. Good luck finding one of these who truly has the knowledge to help. It is almost impossible.

This is all about mode of compensation and nothing more. All modes have conflicts. An ethical advisor is always going to be ethical. An unethical one is going to be unethical.

Cash Rules Everything Around Me
Cream get the money
Hundred Dolla Bill Ya'll


What's sad is Cash is King these days. With everybody buying on loose credit, cash is responsible for a majority (non-FWF members) of Americans

Personal, here and boogleheads, you may also get some business advice as well. Expect the local experts to be very cookie cutter in their strategy while we get creative with our logic or illogic - depending on the situation.

BrodyInsurance said:   LLCPenTesTr said:   Fee only financial advisor/planner ..Stay away from any financial advisor's that sell.

In concept, this always sounds good. In practice, it is another story. "Fee-only" financial advisors come in two basic flavors:
1)They earn AUM (assets under management) fees.
2)They don't earn AUM fees.

Those who earn AUM fees sell. They many not get paid by the product, but they are still getting paid for you to take action and follow their recommendations.

Those who don't earn AUM fees (or commissions) don't sell. Good luck finding one of these who truly has the knowledge to help. It is almost impossible.

This is all about mode of compensation and nothing more. All modes have conflicts. An ethical advisor is always going to be ethical. An unethical one is going to be unethical.


Lots of professions have inherent conflict of interest. Travel agents get higher commissions on higher fares, so they may not be seeking $9 fares at spirit air. Your realtor buyer agent gets a smaller commision if they succeed in finding a lower cost home or bargaining harder and getting a lower selling price. Still, most do a good job for their clients, and those that don't hopefully lose clients.

I've generally shyied away from advisors because I view them as masked salespersons, but maybe we should be embracing all these free advisors. You could get opinions from an insurance guy, a brokerage guy, a bank guy, legal/CPA, etc. then compare how different the advice and maybe there are common items that may be good. Just beware of what they're trying to sell you and don't buy overpriced or over-fee'd products.

50 cent

Kiplinger's--magazine that should be in your public library, if you can find such a thing these days.

wilkinru said:   50 centHe did own a big chunk of Vitamin Water stock when Coca Cola bought them out.

Iirc he made more from vitamin water than his music



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