Issue link: https://www.epageflip.net/i/420675
Iamnoticingagrow- ing trend in my mailbox — readers in search of fi- nancial plan- ners or advi- sors. Or as- sistants. The problem is that when taking in the message's context it's pretty clear that not everyone means the same thing when they refer to a financial "plan- ner-advisor-assistant- helper." One reader wanted to know where to find a "fi- nancial planner" who would just take her pay- check, pay all of her bills, invest for her retirement, give her an allowance, bal- ance her checkbook and not charge her very much. (We'd all like one of those, right?) Then, there are times when the context lets me know that a desperate reader looking for a "fi- nancial planner" really needs a reputable credit counseling organization that offers debt manage- ment. And so, in an effort to clarify and perhaps edu- cate, here's the low-down on financial planners. General Anyone can call him- self or herself a finan- cial planner. If you are ready to seek the ser- vices of a financial plan- ner, and to avoid an am- ateur, you want one who has earned the special credentials of Chartered Financial Consultant or Certified Financial Plan- ner. These professionals make a comprehensive analysis of your entire fi- nancial life, identify your goals and then create an investment and insurance strategy to achieve those goals. Generally, but not al- ways, a professional fi- nancial planner will have minimum standards for new clients that have to do with net worth. Fi- nancial planners are not typically debt counsel- ors. If you are deeply in debt, a financial plan- ner is likely to tell you to come back once you are out of debt. Planning means more than investing. Not all planners offer comprehen- sive services. Some give in- vestment advice or focus on one aspect of planning like insurance or taxes. Es- tate planning is often of- fered by a credentialed fi- nancial planner or con- sultant and includes wills, trusts, tax planning, leg- acy and end-of-life plan- ning. Fee-only financial plan- ners are paid only for the advice they give. Typi- cally they charge by the hour ($200 to $250), like an attorney. They do not earn commissions by sell- ing financial products to you such as life insurance and mutual funds. You can find fee-only planners at NAPFA.org or call 800 366-2732. Fee-based planners earn fees plus commissions. Like a fee-only planner, you pay for the advice and financial plan. The plan- ner also earns commis- sions if you purchase prod- ucts recommended in the plan. Commission-based plan- ners make money from the products they sell. Typi- cally this type of planner does not charge for his or her time, but has a big in- centive for you to purchase the products they recom- mend. Other options Theoretically, everyone can use the services of a fi- nancial planner at some point in the financial jour- ney. But certainly not un- til one is free of credit- card debt as well as other unsecured debt, too. A fi- nancial planner will want to see a consistent positive cash flow. Until you have achieved that level, there are other services that can help you. Credit counseling If you are in a credit card mess and unable to keep up with even your minimum monthly pay- ments, credit counseling may be the answer. A qualified counseling organization will be able to go to your creditors on your behalf to cre- ate a payment plan you can afford. You will re- ceive education to make sure when you are out of debt you do not return and there will be a nom- inal fee. To avoid the scam art- ists and to find a certified counselor in your area, go to NFCC.org or call 800 388-2227. This is the only organization that I rec- ommend to my readers. NFCC has certified coun- selors in every area of the country. Logging on to the website or calling the toll free number will quickly put you into con- tact with the office closest to you. Debt-management program This will be offered to you in conjunction with credit counseling. If you enter a DPM, you will write one check each month for all of your credit card debt and the payments will be sent to your creditors accord- ingly. Wouldyouliketosend a tip to Mary? You can email her at mary@eve- rydaycheapskate.com, or write to Everyday Cheap- skate, P.O. Box 2099, Cy- press, CA 90630. EVERYDAYCHEAPSKATE Financial planners and other mysteries of life RED BLUFF With Thanks- giving just a few days away, the Tehama-Glenn Unit of Cal Fire and the Tehama County Fire Department want to warn residents about the many dangers the holiday can pose. The end of the year for most Americans means preparing for feasts, fes- tivities, and fun through- out the holiday season. But each year that joy is marred by tragedy when accidents and fires cause injuries and even death. To help reduce the chance of fire and injuries associ- ated with holiday cooking, follow these tips: Never leave cooking food unattended. Stay in the kitchen when you are frying, grilling or broiling food. If you leave the kitchen for even a short period of time, turn off the stove. Cooking food should al- ways be supervised by an adult. Turkey fryers should al- ways be used outdoors a safe distance from build- ings and other material that can burn. Never use on wooden decks or in garages. Children should not be permitted near a turkey fryer since hot oil can cause serious burn injuries. Provide a level surface that is free of ignitable ma- terials when using turkey fryers. Be sure to have an ap- propriate type of fire extin- guisher handy at all times. Never use water or a water fire extinguisher to put out a grease fire. Use well-insulated pot- holders or oven mitts when touching pot or lid handles. For more information on fire safety, visit our website at www.fire.ca.gov. CAL FIRE Stay safe during holiday cooking Mary Hunt Ifyouwouldliketosubmitaphotoforconsideration,emailittoeditor@redbluff- dailynews.com with "reader photo" in the subject line or bring it to 545 Diamond Ave. in Red Bluff during normal business hours. READER PHOTO MY BEAUTIFUL HUMMINGBIRDS SUBMITTEDBYCAROLBANWARTH in x 6.75 in IT only T A K E S A S P A R K . O N L Y Y O U C A N P R E V E N T W I L D F I R E S . s m o k e y b e a r . c o m Please 1:1 JobDeveloper neededtodevelopvocationalopportunitiesforpeoplewith disabilities within their community. Other duties: Monitor Job Methods, Standards, and Time Studies to Dept. of Labor Standards. Experience in Job Development or Sales and Marketing. 40 hours per week $9.45 per hour with benefit package. Must be (25 years old +) must be insurable, pass drug screen- ing/negative TB test, DOJ background check and health screen. Apply at North Valley Services 1040 Washington Street, Red Bluff, CA by December 4th LIFESTYLES » redbluffdailynews.com Friday, November 21, 2014 MORE AT FACEBOOK.COM/RBDAILYNEWS AND TWITTER.COM/REDBLUFFNEWS A5