Many people assume that only those aged 50 and older are able to join AARP. It turns out there are no age restrictions at all, and an AARP membership could lead to great discounts for younger people as well.
Finding the right financial advisor for your particular situation can be incredibly tough and time-consuming. To help you begin to filter through the many financial professionals, numerous articles have been written about what questions to ask.
I even wrote an article on the subject and outlined five key factors to consider:
1. Education and Experience
3. Fees and Conflicts of Interest
4. Standard of Care
5. Working Relationship
A factor I didn't mention was inquiring about an advisor's own financial situation. I asked several financial advisors to weigh in on whether they thought their own financial situation would be relevant to prospective clients, and most agreed sharing certain aspects could be helpful. Here's what you may want to ask a prospective financial advisor about their own finances.
Anytime you come across a personal finance-related article, chances are, you'll likely read advice from a financial advisor or "personal finance expert" preaching you should contribute money to your 401(k) up to the employer match because it's essentially "free money." Sound familiar?
Unfortunately, this type of blanket advice is not always true and could be dangerous, especially if one is trying to pay down high interest credit card debt.
Here's why your 401(k) employer match may not be free money after all.