How do I become a personal finance manager?
Dec 09, 2009
in
Personal Finance
Robert M asked:
What degree should I get, and what exactly would I be in charge of as a personal finance manager? Where would I get a job?
What degree should I get, and what exactly would I be in charge of as a personal finance manager? Where would I get a job?
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One comment
gmcjetpilot on December 10, 2009 at 1:19 am
A degree in finance, accounting, economics, business and Law would be nice (advanced, masters or PhD). Than go out into the real world and become very wealthy by investments. Than start your own hedge fund and people will pay you to invest their money.
Why should I take advice from some one who is poor and knows less than I do.
Most states require you to get a license but many don’t. You can be a financial adviser tomorrow with no skill, knowledge or abilities. People should do the research their self and read books and publications and take charge of their finances verses some stranger that does not give two darns about you; they just want to make fees and commission.
You can learn the 101 basics of good money managment, how to save and invest (what mom and dad should have taught you but many don’t). Than you give out advice for a fee. You can do that as a freelance or work for some bank or investment house, as a financial adviser. There are lots of them and many don’t know squat. I would sooner take advice from some of them as I would the kid making my Starbucks.
Most of the basic info is available in books and even cable TV: Suzy Orman, Jim “mad money” Cramer, MSNBC business channel, Bloomberg, The Economist & Wall Street Journal. There are lots of good books on investing and building wealth. Bottom line is earning money the old fashinon way, work for it and save it. People want to do nothing and get a check and produce nothing. That is the problem with our economy, we don’t make anything any more. Of course getting into a high paying profession through advanced education is a way to go.
Finance Manager is kind of a vauge job description and career. You are talking money for giving out advice on how to handle money, not only invest but plan for the future, college funds for kids, retirement. They usually work for some investment bank (Like the 4 that went out of business putting 1000’s of financial advisers on the street).
Most financial advisers are sales man, like car sales man. They are trying to get you to buy something so they can make fee’s and commission’s. They often will point you to things that MAKE THEM MONEY, not you.
You can get you stock boraker licence. You have to take some classes and a test. There are different levels and its not too hard, but stock broakers are a dime a dozen. Again many are looking for work this week. Many individual’s can buy stocks online. Of course the 401k plan at work is best for most. There they have managers that are suppose to know what they are doing run those accounts. It is putting trust in others however.
The BIG jobs on Wall Street go to guys and gals with MBA’s from an Ivy league school. Plus some healthy nepotism and good old boy recommendations.
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So my advice to any one is STUDY READ and RESEARCH, you can do a better job investing money than some stranger that really just wants his fees and commission.
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If you don’t have a intellectual curiosity about this stuff don’t become and finances adviser. Also the idea is help others not yourself. Do us all a favor and don’t tell others what to do with money if you don’t have a clue or the proper attitude.
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