Newspaper article THE JOURNAL RECORD

Good Financial Planning Needed to Safeguard Retirement, Education Funds, Credit Record

Newspaper article THE JOURNAL RECORD

Good Financial Planning Needed to Safeguard Retirement, Education Funds, Credit Record

Article excerpt

One of the fastest-growing professions in America today is financial planning. It's estimated that over 10 million Americans, many middle-income families earning between $25,000-$40,000 annually, could use help with their financial plans.

Are you one of them?

Here are some questions that may help you find the answer.

First off, do you have a family budget and a plan for achieving your financial goals? You must, for life moves too fast for most of us to plan our future financial security by the old seat-of-the-pants.

A financial plan helps you live within your income, prepare for emergencies and attain your dreams. Without a plan you can't successfully prepare for comfortable retirement, fund your children's education or establish a responsible credit record.

If you need some help in these areas and you don't think you can do it yourself, it's just good sense to turn to a professional. If you don't feel the need to sign on a financial planner, you can pick up my latest book, ``Lifetime Financial Planner,'' in the bookstore or library. If your financial situation warrants turning your assets over to a financial planner, you should shop around and pick the individual who suits you best.

Now, financial planners come in many varieties. I recommend you choose one - whether independent or associated with a large firm - who is trained and educated in the field. The two major associations that represent financial planners are the International Association of Financial Planning (IAFP), 2 Concourse Parkway, Suite 800, Atlanta, Ga. 30328, and the Institute of Certified Financial Planners (ICFP), 10065 East Harvard Ave., Suite 320, Denver, Colo. 80231. Both of these agencies have the names of local associates and offer free booklets to help you learn more about the industry.

Planners giving advice on securities, investments or tax shelters must also be registered with the Securities and Exchange Commission (SEC) or chartered under state laws. …

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