To become a fee-only personal financial planner, do I need a Series 7 or is a Series 65 alone sufficient?
Answers: I believe to call yourself a financial planner you need to have a Certified Financial Planner (CFP) designation.
The financial planning industry doesn't place a license requirement on planners. Typically the company that you work for will make this requirement because the license that you hold determines what type of investment products you are able to provide for your customers. A series 7 will allow you to provide stocks, bonds, options, mutual funds, limited partnerships, and pretty much most all types of investments. A series 65 will allow you to provide mutual funds only to your customers. Clearly, a Series 7 would be more appropriate for a person doing true finanical planning because it allows a much greater variety of options for your clients. You are probably putting the cart in front of the horse anyway because you can't take either of these lisences without being sponsered by a company and like I said earlier, the company will determine what license they will require for you to acquire. I hope that you found this helpful.
Old 401-K?
If you had a 401-k at a aged job, do you lose what you put into it when you sign out that job?Answers: no sir
The money that you contribute to a 401k is your money. When you set off the company you usually have four option. Option 1 is to leave the funds surrounded by the 401k. Your plan administrater will tell you how long it can stay at your former place of employment.
Option 2 is to clutch possession of the funds and roll it into a rollover IRA. This option avoids taxes and penalty and is usually the best option.
Option 3 is to roll the proceeds into a 401k at your current place of work. This method also avoids taxes and penalty.
Option 4 is to cash out the 401k and to do anything you want with the money. This is usually an awful substitute because as much as 50% of funds will be eaten up within taxes and penalties.
I hope that this be helpful.
Of course not.
You can normally leave it here, or roll it over into an individual IRA.
DON'T take the money out though.
Call Fidelity and ask them to aid you set up a rollover IRA. They will do all the work for you.
Computer program for managing your portfolio?
I invest online with Sharebuilder.com. Right immediately I am not interested in upgrading my rationalization. But I am interested in a program for my computer that I can use to track my securities. Anyone know of any virtuous programs that would suit my needs? I am interested surrounded by something I can download and try for free before I buy.Answers: I use a pretty cool tool call MARKET BROWER. It's FREE baby! It's a great tool. Like any tool, the more you use it, the more you will pick out things you don't approaching but in the finish.it's free babee!
MS-Money and gnucash are both well suited to the errand.
gnucash comes free with ubuntu linux (also free) You also receive a full office suite (free) beside ubuntu linux.
Quicken is a bit superior to both, but not in my spectacle worth the extra cost.