Tag Archives: Certified Financial Planner

Business, Finance, Occupation & Industry

The 5 Best Jobs in America

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By Alex Planes, The Motley Fool

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Few decisions will have as lasting an impact on your life as your choice of profession. You can pour your life into a career, only to see it taken away as technology and business attitudes render your specialty obsolete. On the other hand, if you discover that you happen to be great at a job that looks to be in high demand for decades to come, you can practically write your own meal ticket.

But what are the best jobs? CareerCast.com, a targeted career site, recently put together its list of the best and worst jobs in America, which it ranks using a proprietary formula based on the general categories inherent to every job: environment, income, outlook, and stress level. A better environment, a higher income potential, robust future growth, and manageable stress levels all combine to create a great job. The five jobs you’re about to see offer the best overall combinations of factors, which makes them the five best jobs in America. Let’s see what makes them so appealing.

5: Financial Planner 

Source: Bureau of Labor Statistics Occupational Outlook Handbook.

  • Median pay: $64,750 per year 
  • Entry-level education: Bachelor’s degree
  • Number of jobs: 206,800
  • Expected new jobs by 2020: 66,400 (32% growth)

Many of our longtime Foolish readers will certainly appreciate this one, as we do count a number of financial planners among our readership. This profession helps people get their finances in order, whether it’s by helping to build a portfolio, minimize a tax burden, or recommend a good insurance policy. Although you can become a financial planner right out of college, many ambitious individuals seek out the Certified Financial Planner certification, which requires a fairly comprehensive course of study. There are only about 50,000 CFPs in the United States, or roughly a quarter of the total financial planning profession.

4: Audiologist 

Source: Bureau of Labor Statistics Occupational Outlook Handbook.

  • Median pay: $66,660 per year
  • Entry-level education: Doctoral or professional degree
  • Number of jobs: 13,000
  • Expected new jobs by 2020: 4,800 (37% growth)

This is a small but vital part of the health-care community, and it will only grow in importance as more baby boomers find that their years of listening to the Rolling Stones or Steely Dan or [insert your favorite band here, boomers] at full volume has left them with hearing that’s a bit less than perfect. Because of their large niche population but small base of employment, most audiologists operate with less competitive pressure than other medical professionals, as is the case with general-practice doctors, dentists, optometrists, and the like. According to Gallaudet University, more than 38 million people in the United States are deaf or hard of hearing  — that’s nearly 3,000 patients per audiologist.

3: Software Engineer 

Source: Bureau of Labor Statistics Occupational Outlook Handbook.

  • Median pay: $90,530 per year 
  • Entry-level education: Bachelor’s degree
  • Number of jobs: 913,100
  • Expected new jobs by 2020: 270,900 (30% growth)

How many times have you heard (or said) that computer programming seems like a pretty great job? Many

Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

What to Do Before Collecting Lottery Winnings

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By Nicole Seghetti, The Motley Fool

Chevrolet Code 130R concept - front three-quarter view

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You hit the lotto! Sure, go ahead and crack open the Dom Perignon. But follow these steps before you start collecting lottery winnings and let the spending spree begin.

Secure your winning ticket. Lottery officials advise signing your ticket. That’s the best way to protect it in case it’s lost or stolen. Then make a copy of the signed ticket, and keep the copy with you. Place the signed ticket in a safe deposit box.

Remain anonymous. Many lotteries release the names of winners. So take steps to protect your privacy to avoid being flooded with calls from long-lost family members, creditors, and charities. Your anonymity will also give you some space to make financial decisions thoughtfully and clearly. If you have a cellphone, use it. But if you have a landline, be sure to obtain an unlisted phone number.

Wait. Wait several days before claiming your prize. In the meantime, ask for some time off work. Don’t quit your job until the money is legally yours. Consult with an attorney about what steps you can take to claim your winnings anonymously.

Assemble your professional team. Get your trusted team together and develop a financial plan before collecting or spending any money. They’ll help you explore the financial implications of each choice before deciding. A reputable financial advisor, certified public accountant, and attorney will recommend the best strategies for obtaining and managing your winnings, while helping you get a sense of your true financial situation.

Unfortunately, a team of professionals doesn’t instantly appear once you’ve come into money. You’ll likely encounter smooth-talking, wolves-in-sheep’s-clothing “professionals,” but steer clear. Handpick your own team players and require them to work together.

Check with your trusted family members and friends for referrals. Consider reaching out to past lottery winners for advice. Make sure the team members have experience working with comparable-net-worth individuals who’ve encountered situations similar to yours.

Your financial advisor (preferably one with a Certified Financial Planner, or CFP, designation) will help you decide how much money to spend versus save, how and where to invest your money, and help project when you can achieve your financial goals. Your CPA can give you the ins and outs regarding how much you’ll owe Uncle Sam and how to minimize your tax liabilities. And your attorney will help you develop an estate plan and draft the necessary documents.

Vet each of these professionals and check for complaints filed against them with the appropriate licensing agencies. For example, investigate FINRA BrokerCheck and the CFP Board regarding your financial advisor. Also, see whether there have been any complaints filed with state disciplinary authorities for your CPA and attorney.

Ultimately, make sure you feel comfortable with these people. Don’t work with anyone who rushes you, talks down to you, or pressures you to take actions that you don’t understand or aren’t at ease with. Your team works for you.

Making the right financial decisions today makes …read more

Source: FULL ARTICLE at DailyFinance