21 yrs old and Need a Plan!!!! Help?

[m1kesgurl]

exactly. I am always up for learning more everyday. i learn so much more everyday and i use it everyday now. I want to be able to invest in things that will help my future. me being a financial advisor, being in the debt settlement business, we do not learn about investing in roths, and iras and what not. we basically find ways to make situations better for our client.

A client who has so much debt, they are looking to get out of debt, not take money and put it somewhere else to build and more and more over the years. we put them in a program and have a negotiator handle the rest. if they want help with budgetting, then they come to me, or if they arent able to handle their situation, they come to me.

[disneysteve]

Originally Posted by m1kesgurl

me being a financial advisor, being in the debt settlement business, we do not learn about investing in roths, and iras and what not. we basically find ways to make situations better for our client.

I think this clears up something. When you said you were a financial counselor, I think a lot of us assumed that meant you were advising others on how to manage their money and we couldn't understand why you'd need to come here to figure out how to manage your own.

The fact that you only deal with debt settlement explains the discrepancy.

[Scanner]

That's what I was thinking. . .he must be in some other form of finance.

Wealth accumulation is a complex subject. . .but it isn't complex at the same time. . .buy a basic book. I even have one laying around. . .if you p.m. me, I'll send it book rate to you. It was written by Charles Schwab.

A very basic primer. . . you'll have to think about how risky you are. . .low, medium, high.

Understanding your risk tolerance is probably key and then learning about the different vehicles is second (debt sector or equity sector).

Good luck.

[m1kesgurl]

Yeah, we dont talk about investing money. We basically get the client into a program to eliminate their debt. Then if they have questions about how to handle personal or financial issues, they call and we assist them. But most of our clients, just want help with their debt situation, nothing more

[disneysteve]

Originally Posted by m1kesgurl

most of our clients, just want help with their debt situation, nothing more

That's really a shame since what lots of them probably need is guidance on how to stay out of debt in the first place.

[m1kesgurl]

exactly. we try our hardest to get them out of debt and the give them a free financial coach after the program, but alot of them dont even use them

[Gruntina]

Any updates on yourself on what you have done to start your savings/investing since you got a lot of good advice?