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Old 08-28-2008, 10:24 AM   #41
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My wife sat for the CMA exam, that wasn't a piece of cake either.......


I have a degree in finance, and a concentration in risk management and insurance. The CFP Board allows you to "test out" of up to 2 modules of the CFP exam if you have the coursework background to support it, which I qualified for. So for me, it's now the commitment to learn a bunch of facts, some useful, some inane, and take the test. I plan on taking it in 2009.
The CMA is what I have.

As for the CFP, I may someday take it and start a second career as a planner. If I get demotivated, I may just try paraplanner (glorified Excel user) first.
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Old 08-28-2008, 10:34 AM   #42
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The CMA is what I have.

As for the CFP, I may someday take it and start a second career as a planner. If I get demotivated, I may just try paraplanner (glorified Excel user) first.
paraplanner sucks as a job. American Express Financial Advisors tried to hire me back in 98 to be one for them, and 'work my way up" from there, but the pay was quite weak...........
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This Thread is USELESS without pics.........:)
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Old 08-28-2008, 10:42 AM   #43
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Did he have a hot dog named after him?
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Old 08-28-2008, 03:35 PM   #44
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paraplanner sucks as a job. American Express Financial Advisors tried to hire me back in 98 to be one for them, and 'work my way up" from there, but the pay was quite weak...........
I know, but this would be a "rehirement" job for me...I don't care if I make minimum wage....so long as I can have some fun. Perhaps it's no fun either.
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Old 08-28-2008, 05:46 PM   #45
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NO! The way to learn financial planning is not from a community college or any other kind of class. The way to learn it is, first, to be motivated by a financial goal (such as FIRE, getting the best deal on a mortgage, getting the most financial aid you can when your kid goes to college, etc.) and then go out and learn it on your own - read books, go on the web, get involved in chat boards where people kick ideas around, talk to friends who have "been there, done that". I feel that right now I know all I want/need to know about finances. I never took a personal finance course but, over the years, I've done weird things like read insurance policies, read the prospectuses from mutual funds, put together spread sheets (even before the days of PC's!), read every book I could get my hands on re: Early Retirement. As I get older, I'll probably study up on CCRC (Continuing Care Retirement Communities.) I probably won't want to go into one, but I would like to know the finances of how they work so that if I ever visit one for a marketing visit, I'll have done my homework. A strong desire to avoid getting screwed is a great motivator to learn!
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Old 08-28-2008, 08:10 PM   #46
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Just more evidence how generic and useless Money magazine is - though evidently it's the most widely read "money" magazine which ironically helps support her premise...
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Old 08-28-2008, 08:13 PM   #47
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We call it money porn magazine around the office.
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Old 08-28-2008, 09:54 PM   #48
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Just more evidence how generic and useless Money magazine is - though evidently it's the most widely read "money" magazine which ironically helps support her premise...
Ain't that the truth!
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Old 08-29-2008, 05:29 PM   #49
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Just more evidence how generic and useless Money magazine is - though evidently it's the most widely read "money" magazine which ironically helps support her premise...
I've subscribed to Money for a year at a time on a few occasions (especially when I could get it for the corporate/senior/military or whatever rate of $10/year that they seem to offer everyone now.) My take is that they have about 20 - 30 basic articles which they recycle over the course of a 12 - 18 month period.

I'll grant you that the ups and downs of the market can be "news" for some people and there are cycles, bubbles and other events that can make for splashy cover articles. But the fundamentals of financial planning are pretty basic and rarely change. So Money is challenged to make old basic principles and common sense sound new and exciting every month.

I haven't subscribed for quite a few years; I used to skim it in the library before I moved to our small town in Vermont. Our library here doesn't subscribe to it, perhaps demonstrating Yankee common sense and frugality.
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Old 08-29-2008, 09:02 PM   #50
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I agree about the recirculating articles, I could write a number of them myself by now.

However, I still enjoy reading them (money and kiplingers and smart money and others). Of course, I also like Louis Lamour westerns.

And every once in a while I even learn something from one of them. Just today I was reading a Kiplingers and I learned that the gov't is removing the tax break of selling your primary residence, taking the (up to) $500K tax break, moving into your vacation home as your primary residence, and eventually selling that one and taking the whole tax break again. Now they are prorating the break (starting from 2008 ). So if you already own your second home and move into it in 2013 and live there until 2018 then sell it, you will only get 1/2 of the tax break.

I didn't know this until I read it, and since I'm buying a second home at the end of Sept, it gives me something to think about. It won't change my mind, but it does prove that even money porn has redeeming values if you don't just look at the pictures.
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