Originally Posted by Buehler445:
FWIW, CPA and CFP have virtually nothing to do with each other.
CPA = Certified Public Accountant
CFP = Certified Financial Planner
The similarities end with requiring certification and continuing education, the similarities pretty much end there.
Becoming a full on CFP would be a massive undertaking. Meaning He would have to take a fuckload of courses, the exam, and work under a CFP for a really long time.
This would be a full on career change.
That being said, many "financial planners" aren't certified. Most fucknuts Series 5, 6, or 7 certifications so they can sell bullshit ass products for bullshit ass companies.
I don't know if there are any other certifications out there, but I wouldn't recommend going the full CFP route.
Yes I know but most successful CFPs I know began their lives as CPAs. I think it's a natural transition.
Most of you guys maybe too young to remember this how but how about "Silver Screen Limited Partnerships" sold by Lehman Brothers as tax shelters in the late 80's? Fucking disasters.......:-) [Reply]
Originally Posted by scho63:
Yes I know but most successful CFPs I know began their lives as CPAs. I think it's a natural transition.
Most of you guys maybe too young to remember this how but how about "Silver Screen Limited Partnerships" sold by Lehman Brothers as tax shelters in the late 80's? Fucking disasters.......:-)
There really isn’t a lot of overlap there. It would be a massive undertaking to switch from CPA to CFP if I understand the rules properly. [Reply]
Originally Posted by kstater:
Take it and run. I did my best not to panic, look at the IRA too much, and ended down 12.8. The good news is I’m still a long ways from needing it.
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Ouch. Did something in particular tank on you?
I have three different accounts that I manage, two IRAs and one that's liquid savings. One of them was a rock and only lost 2.5 percent. The second one did pretty good as well, relatively speaking, and was down 3.2 percent.
But the third one was down 14.0 percent. It seemed like all of my overweighted stocks in that account tanked, even though there was no particular pattern among them. My second-biggest holding in that account (THO) got pulverized this year, losing over 60 percent, and it was about 8 percent of my total holdings in that account. But hey, now it's low so I'm buying a little more. It'll go back up eventually, right? [Reply]
I'm looking for advice on how to pick a good CFP. I realize many aren't certified. In the past I just used a good newsletter to pick stocks. This year I'm looking for professional advice.
Picking a 'guy' is as tough as picking the stock.
Also my 401k only let's me do mutual funds. I'm used to buying stocks.
Originally Posted by Rain Man:
Ouch. Did something in particular tank on you?
I have three different accounts that I manage, two IRAs and one that's liquid savings. One of them was a rock and only lost 2.5 percent. The second one did pretty good as well, relatively speaking, and was down 3.2 percent.
But the third one was down 14.0 percent. It seemed like all of my overweighted stocks in that account tanked, even though there was no particular pattern among them. My second-biggest holding in that account (THO) got pulverized this year, losing over 60 percent, and it was about 8 percent of my total holdings in that account. But hey, now it's low so I'm buying a little more. It'll go back up eventually, right?
All indexed funds. Largest in a target fund, about 30 percent splits between a large cap and a mid cap. The large cap did the best.
