Dave Ramsey Recommended Investment Advisors

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Evaluation Question #: Does Talking With My Financial Advisor Make Me Feel More Knowledgeable Or More Overwhelmed

The #1 Mistake People Make When They Use a Financial Advisor

Listen, you should never invest in something you dont understand. Thats why its important to have an advisor who can break down complicated investing jargon into plain English. One of a pros main responsibilities is to teach you about investing. If theyre just telling you what to do with your money, theyre not doing their job.

If youve found your current financial advisor lacking in some of these areas, it may be time to look for a new advisor. The great news is that finding top-rated pros doesnt have to be complicated when you know what youre looking for.

Where You Can Find Dave Ramsey

You can listen to Dave Ramsey on his radio show, The Dave Ramsey Show. Every episode focuses on financial difficulties that real people are going through. These people call in and talk directly with Ramsey, who offers advice and an action plan. The show plays on weekdays from 2 p.m. 5 p.m. EST and is syndicated across the country.

Ramsey has multiple books meant to help people get out of debt and build wealth. The Total Money Makeover is one of his most successful books. It covers Ramseys seven-step process for getting out of debt and reaching financial freedom.

How Does A Financial Advisor Get Paid Should You Use One

8 Min Read | Sep 27, 2021

If youre new to the world of investing, youre probably wondering whether you need the help of a financial advisor. Heres the truth: Even the most seasoned investors find value in having an investment professional guide their overall financial plan.

According to a Ramsey Solutions research study, 44% of people who partner with a financial advisor have $100,000 or more saved for retirement, while only 9% of those who fly solo have that much saved. With such a huge difference in results, why would so many folks not hire an investment professional?

Well, people find investing intimidating for many reasons. One of those fears includes putting their trust in the wrong people for guidance. We know its hard to understand how investing works, how financial advisors are paid and what youre getting for your money. But we also know that successful investors work with financial advisors they trust.

Its important for you to learn the different ways an advisor can get paid. That way, you can ask the right questionsand keep asking them until you find the right advisor for you. Lets dive in!

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Interview Question #: How Do You Get Paid

When you meet with a pro for the first time, this may be one of your top questions. I get it. Paying an advisor for their services affects your bottom line, so its important to have a thorough understanding of exactly how your advisor gets paid. Some pros may offer a free consultation, but its only fair to pay them for their services after that.

When you work with a financial advisor, youre not just paying someone to manage your funds. Youre paying for a full-service professionalsomeone who can guide you to set realistic goals, help you save consistently month after month, calm your nerves when the market is down, and answer any question you have about your investments. In my experience, the value of that relationship is worth every penny.

A great financial advisor can clearly tell you not only how theyre paid, but also why its worth it. Thats what youre looking for. If an advisor dodges a question about fees, take that as a sign to go elsewhere. Dont work with someone who wont give you a straightforward answer about how theyre paid.

Finances Investment Fiduciary Money Assets Goals And Divorce

Dave Ramsey

Second Saturday Divorce Workshop was designed to help women take the next step, no matter where you are in the process of untying the knot. It provides unbiased information to help you understand all of your options, deal with your emotions, and move forward with your life.

  • Explore the legal, financial, psychological and social issues of divorce
  • Discover community resources available to help you.
  • Talk with other women / females experiencing similar life changes.

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How You Should Be Investing Your Money

Now that you see the issues with Dave Ramseys investing advice, how do you go about investing your money?

I know that you follow the advice of Dave because he is a trusted source and because investing is overwhelming with all of the investment choices out there.

So why should you listen to me?

Ive been in the financial services industry for close to 15 and Ive worked with investors who had millions to invest.

All along the way, I was a fiduciary and always put the client first.

On a personal level, Ive been investing my money since the late 1990s and have grown my wealth to over seven figures through a buy and hold investing approach.

And Ive helped friends, family, and readers of this site grow their wealth by working with them one on one.

You can grow your investment wealth without a financial advisor and you dont need to be paying loads on mutual funds to invest.

You can do it all yourself with just a little hand holding.

The first option is Charles Schwab.

They have Intelligent Portfolios that automate investing for you.

You enter your goals, and Schwab will invest your money for you.

There are no advisor fees and no trading fees.

If you do want some hand holding from a financial planner, you can pay $300 for a one-time planning fee and then $30 a month with their Premium service.

Another option is for those of you who are comfortable with being more hands on.

It is called M1 Finance.

You dont answer a risk questionnaire like you do with Schwab.

A Smartvestor Pro Is Vetted By Dave Ramsey And His Team To Help You

All SmartVestor Pros agree to the SmartVestor Code of Conduct which includes placing your best interest in front of any others.

We believe that everyone deserves access to solid, professional investing guidance. Our position as a SmartVestor Pro is derived from our years of experience in the financial industry and our passion to help others.

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A Simple Investing Plan

Once youve completed the first three Baby Steps, youre ready for Baby Step 4investing 15% of your household income in retirement. This is where things get really exciting! Youll get the most bang for your buck by using tax-advantaged investment accounts like these:

Pre-Tax Investment Accounts

  • Roth 401
  • Roth IRA

If your employer matches your contributions to your 401, 403 or TSP, you can reach your 15% goal by following these three steps:

  • Invest up to the match in your 401, 403 or TSPthats free money!
  • Fully fund a Roth IRA for you .
  • If you still havent reached your 15% goal with the first two steps and have good mutual fund options available, keep bumping up your contribution to your 401, 403 or TSP until you hit that 15%.
  • Does your workplace offer a Roth 401? Even better! You can invest your entire 15% thereif you want to. Just be sure the plan offers plenty of good mutual fund options so you can make the most of your investments.

    Not sure how much youll need to retire? Plug your numbers into our investing calculator and find out.

    Tips To Help You Get Out Of Debt

    My Financial Advisor Says The Dave Ramsey Plan Is Too Aggressive
    • If you are carrying balances on multiple credit cards, a the right balance transfer credit card can help you to consolidate your debt and focus on paying it off.
    • Dave Ramsey advocates paying off your debt with the snowball method. If you decide to use a different method, thats OK too. Just be sure to check out and avoid four of the worst ways to pay off debt.
    • To avoid getting into debt in the first place, consider working with a financial advisor. A financial advisor can help you draft a financial plan to ensure you stay on track to meet your financial goals. SmartAsset offers a free financial advisor matching tool that makes it easier to find an advisor to work with who meets your needs. Simply answer a series of questions about your situation and goals. Then the program will narrow down your options from thousands of advisors to up to three registered investment advisors who suit your needs. You can then read their profiles to learn more about them, interview them on the phone or in person and choose who to work with in the future. This allows you to find a good fit while the program does much of the hard work for you.

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    Start By Working With A Trusted Dave Ramsey Smartvestor Pro Advisors Servicing Boston

    Our team of investment advisors servicing Boston, MA have the knowledge and experience to help you set and meet your long-term financial goals. Investing can be confusing, but our Smartvestor Pros have the knowledge and experience to help you make the best decisions. Because they help a wide variety of clients in varying financial circumstances and at different stages of their lives, our Smartvestor Pros can offer guidance in many financial areas including retirement planning, risk management, tax planning, asset allocation, estate planning, and more.

    Our Dave Ramsey Smartvestor Pro Advisors are educated investment professionals who will oversee your portfolio and help you make the best decisions in an unpredictable financial marketplace. We provide investment management services near Boston, and we have been providing investment advice for individuals throughout Boston, Cambridge, Lowell, Worcester for years. Our job is to help you grow your portfolio and create the wealth and security you need to enjoy your retirement years.

    We Don’t Take Our Jobs Lightly

    We understand the emotions and considerations involved with trusting someone to guide your financial future, and it’s a responsibility we don’t take lightly. Although there are thousands of financial professionals, only CFP® professionals have completed extensive training and experience requirements and are held to rigorous ethical standards. We understand all the complexities of the changing financial climate and will make recommendations in your best interest.

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    Start By Working With A Trusted Dave Ramsey Smartvestor Pro Advisors Servicing Orlando

    Our team of investment advisors servicing Orlando, FL have the knowledge and experience to help you set and meet your long-term financial goals. Investing can be confusing, but our Smartvestor Pros have the knowledge and experience to help you make the best decisions. Because they help a wide variety of clients in varying financial circumstances and at different stages of their lives, our Smartvestor Pros can offer guidance in many financial areas including retirement planning, risk management, tax planning, asset allocation, estate planning, and more.

    Our Dave Ramsey Smartvestor Pro Advisors are educated investment professionals who will oversee your portfolio and help you make the best decisions in an unpredictable financial marketplace. We provide investment management services near Orlando, and we have been providing investment advice for individuals throughout Boca Raton, Cape Coral, Clearwater, Coral Springs, Fort Lauderdale, Gainesville, Hialeah, Jacksonville, Miami, Orlando, St. Petersburg, Tallahassee, Tampa for years. Our job is to help you grow your portfolio and create the wealth and security you need to enjoy your retirement years.

    How To Find A Financial Advisor

    Financial guru Dave Ramsey has given advice on whether one ...

    Are you happy with your current financial advisor or investment professional? Great! Keep investing for the long term and meeting regularly with your pro.

    Maybe you already have an advisor, but these questions have made you realize your current pro isnt a great fit for you and your needs. Its important to find a pro you can trust, and that may mean its time to move on.

    If youre looking to make a change or just getting started with investing, try the SmartVestor Program. Its a free way to find top-rated investment professionals in your area. Looking for a pro shouldnt be complicated. With SmartVestor, you can interview as many pros as you want to find the best fit for you.

    About the author

    Ramsey Solutions

    Ramsey Solutions has been committed to helping people regain control of their money, build wealth, grow their leadership skills, and enhance their lives through personal development since 1992. Millions of people have used our financial advice through 22 books published by Ramsey Press, as well as two syndicated radio shows and 10 podcasts, which have over 17 million weekly listeners.

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    Financial Consultant For Divorce Early Retirement And Asset Planning For Phoenix

    Shanna Tingom is the co-founder of Heritage Financial Strategies and a dedicated member of the Chamber of Commerce. She has more than 20 years of experience in the financial services industry and specializes in working with female entrepreneurs, business owners and leaders as well as individuals experiencing life transitions such as marriage or divorce. Her main focus is helping others take charge of their financial future.

    After years of struggling to fit into the corporate mold, Shanna made the decision to become an independent advisor. She earned a bachelors degree in business from William Penn University and a masters degree in organizational management from the University of Phoenix. Shanna currently holds FINRA Series 7 and 66 licenses and the Accredited Asset Management Specialist designation. She considers herself a life-long learner and keeps apprised of changes in the financial industry.

    Since opening Heritage Financial Strategies, Shanna has been a regular contributor to Investopedia.com, Kiplingers Personal Finance online, and Born2Invest.com as well as Gilbert Woman Magazine. She makes frequent public speaking and guest radio appearances in Phoenix and nationally as well as hosts her own podcast, Making Money Fun which can be found on iTunes.

    Thrive Is A Dave Ramsey Endorsed Local Provider For Insurance

    Dave Ramsey is a trusted voice on money matters and a personal money management expert. His 13-week Financial Peace University program has sold millions of copies, helping hundreds of thousands of families achieve financial freedom and become debt free by following his simple steps.FPU helps families dump their debt, get control of their money, and invest in their future. His 7-step program includes:

  • $1,000 In an Emergency Fund. Dave recommends that you put aside a lump sum to prepare for a rainy day.
  • Pay Off All Debt. After that, it’s time to tackle your debt! Pay down any credit cards, loans, or other high-interest debt.
  • 3 to 6 Months Expenses in Savings. As soon as you’ve completed the first two steps, start to put away enough money to cover between 3 to 6 months of your household’s expenses.
  • Invest 15% Of Income Into Roth IRAs and Pre-Tax Retirement Plans. When your expenses are covered and your savings is fully funded, it’s time to invest in the future.
  • College Funding. If you have children who plan to head to college, you can start saving for their college funds.
  • Pay Off Your Home Early. Now’s the time to pay off your biggest investment your home!
  • Build Wealth and Give! It’s time to share your wealth. Continue to build your savings account and give to your favorite causes.
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    What Dave Ramsey Does Invest In

    You have lots of investment options to choose from, and making sense of them all sure isnt easy. Thats why weve included a quick guide to help you understand what Dave recommends investing inand what he doesnt.

    Of course, its your money, and you should always understand what youre investing in before you invest a single dime. Dont copy Daves plan just because thats what Dave does. Thats just silly. Work with an investment professional to compare all your options before choosing your investments

    Want to know more of the specifics? Heres a breakdown of some pretty common investment options and Daves thoughts on themgood and bad.

    Make A Budget And Stick To It

    Financial Advisor Reacts To Dave Ramsey Show Pay Off Mortgage or Invest

    Another thing Ramsey encourages every investor to do is to make a budget and stick to it. A budget is telling your money where to go instead of wondering where it went, Ramsey says.

    He suggests allocating money first to essentials, then to paying off debts, and then to investing for retirement. Only after those three categories are taken care of should you consider spending money on other things. Ramsey places a lot of emphasis on the importance of the budget and notes that sticking to it is crucial for making your budget more than a theoretical ideal. You can make your own budget using paper and pencil or a program like excel. If youre looking for some assistance in making and sticking to your budget, though, a budgeting app like YNAB or Every Dollar could help simplify the process and keep you focused on your goals.

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    At Schrette And Lee Wealth Management:

    Our first priority is helping you take care of yourself and your family.

    The best way to move forward is to schedule a meeting or call with one of our team members. This is a no obligation meeting, and allows both parties to start a conversation and assess the situation. We want to learn more about your personal situation, identify your dreams and goals, and understand your tolerance for risk. Often a first meeting is getting together for coffee with a blank notepad. Building long-term relationships that encourage open and honest communication are the cornerstone of our foundation for success.

    Our second priority is creating a plan based on your unique situation and risk tolerance.

    Be it your future or a child’s education, our planning and investment advice doesn’t take on a cookie-cutter approach. We will take steps to work with you to create and implement your personalized plan and assist in making any necessary adjustments along the way. You will participate and be advised throughout the entire process as we help you build wealth and achieve your financial goals.

    We consider it a privilege to be part of Dave Ramsey’s SmartVestor Pro team and would appreciate the opportunity to help you achieve your retirement goals.

    Speak With Paul

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