Formulate a Financial Plan

Know Your Net Worth

Manage & Minimize Debt

Accumulate Assets

Budget to Live Within Your Means

Understand Investing Basics

Plan for Retirement

Insure People & Property

Deal with Financial Advisors

Review Your Employment Contract

Make Plans for Your Estate

Make Good Decisions


There are many ways to categorize advisors (by credentials, experience, product offerings, etc.), but what really matters is that advisors ultimately fall into one of five categories:

  1. Skilled, committed, caring advisors who charge fair fees
  2. Skilled, committed, caring advisors who charge too much
  3. Inept advisors who may be sincerely well-intentioned but just don’t know how to do their job properly
  4. Conflicted advisors who don’t always have clients’ best interests at heart
  5. Criminals who are out to embezzle and steal client assets

The challenge for us is that they all claim to be in category 1!

Because advisors have an agenda to sell us products and services, we must view them skeptically. See the chapter on dealing with financial advisors for details.