Here’s a scary statistic: only one in 10 women ages 25 to 34 has a financial plan. If you’re one of the 9 who doesn’t, it isn’t too late to start saving or at least clearing the debt away. Financial planning isn’t just about saving for a home or kids, it can also provide foresight for annual vacays and early retirement. But if you’re fuzzy on how to get on the planning path consider hiring a CFP: certified financial planner.
Here are four facts about CFP’s.
1. A financial planner can guide even the most broke. The planner’s goal is to help you set up a path to financial security (freedom?) not just work with the wealthy trying to increase their investment returns.
2. Look for a CFP credential, which confirms that the person has met the education and passed an exam needed to be a certified financial planner.
3. Find one through word of mouth–coworkers or relatives may have a great CFP’s name to share.
4. Find a fee-only planner, sure you’ll have to shell-out cash for the CFP service, but the planner won’t be taking commissions on products she recommends.
Photo via Flickr: by epSos.de