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Plan Well, Retire Well

Saving and investing your money

How do you know who to trust with your money?


If you are like me, you read a headline today - "Madoff pleads guilty in largest Ponzi scheme ever."

The largest Wall Street scam to date has everyone questioning how such a scam could happen. Even more so, many people might be asking how do I know who to trust with my money?

So, how do you know who to trust with your money? To help you in the process of choosing a financial professional, University of Illinois Extension has developed a website entitled: "Choosing a Financial Professional." The website provides resources and answers to questions everyone is asking about who do you trust with your money?

For those of you that want a few quick tips, here are my thoughts:

  • Do your homework. Choosing someone requires you to investigate and make your decison more from your research and should be based on more than name or reputation or recommendations from a friend.
  • Make sure you interview the finanical advisor and ask questions. This is your money they are handling and you should how are they investing your money!
  • Check out qualifications. Because financial professionals can have a broad range of titles and licensure, it is important to investigate any said designations. Find out if an advisor is licensed and registered by checking with your state regulatory agency and FINRA.
  • Visit the Choosing a Financial Professional website for more detailed answers to your questions about finding someone you can trust with your money.

My last bit of advice for today's blog --- remember, if it sounds too good to be true, it probably is!



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