Penn Stater Farnoosh Torabi’s new book gives day-to-day and long-term money advice to young professionals without financial jargon or preachiness.
The Importance of Financial Advice
Article by Gareth Hoyle
Alexander Efros, MBA, CPA, Discusses Dot Com IPOs in 2011 — Part 3 of 3
Financial Advice question by WhiteSox: Should I give financial advice to my best friend?
I have a friend who is in sales. He is very open about his life and tells me everything about his finances.
He makes $ 6,000 per month. He makes 5 grand in a week and takes it easy the rest of the month.
He has been doing pretty well for about 2 years now. All he has to show for it is possessions and about 10k in the bank.
Should I give him any encouragement to reach his full potential, or should I leave him alone? He does seem happy.
Financial Advice best answer:
Answer by ladyindica If you encourage him to do something and it flops or doesn’t work out, he will blame you. Just be happy for him and keep your advice to yourself.
Meanwhile the son and daughter-in-law of Lincoln-population-fluoridating liar Councillor Dr Elizabeth Jenkins’ long-since struck-off psychiatrist colleague John Harding-Price – famous for his naked mental health consultations – have set up a charity in memory of their son Matt who died of a, er, rare bone cancer.
If only young Matt had been able to recuperate in his grandfather’s holiday property in Florida.
But by then the Court had made him give it back to his patient, "K", after a gruelling battle through the courts, during which time Harding-Price was first severely admonished for financial dishonesty, and finally cashiered by the GMC for a test-sample of bottom-slapping, underwear-moving and breach of confidentiality cases.
There was nothing else for it but to go and work in Ireland. Which he did, a couple of weeks later. He still occupies Hafod, the large house and grounds close to Lincoln’s MRSA-infested County Hospital.
THE NATURE OF LINCOLN’S PSYCHO-SQUIREARCHY
Back in the 1970-80s golden age of Lincoln’s St John’s Giant Electric Mental Asylum For Yo-Yo-Knickered Ladies and Unwanted Relatives, Dr Harding-Price had probably quickly realised that it was the stress of overseas property management which had led victim K to seek his psychiatric advice, and relieved him accordingly.
But, showing scant understanding of modern psychiatric techniques, the trial judge eventually ruled that Harding-Price should return K’s property for what he had originally paid for it – twelve years earlier – without interest.
The judgement cited the "undue influence created by the discrepancy in the price they paid K for the property and its value at the time of the transfer, together with the doctor-patient relationship between Dr Price and K."
A further appeal to the European Court of Human Rights by Dr Harding-Price and Mrs Mary Hazel Lowe, a Medical Secretary, didn’t go to plan.
Between them, the two Lincoln health professionals felt that 1,353,842 English pounds and 37 pence would just about compensate them for the anguish and material loss which the fallout from K’s treatment had brought about.
Matt died nine months later. But with an eerie sang-froid his Mum and Dad have worked out what teenagers with life-threatening illnesses need – laptops! Lots and lots of laptops. And so Lincoln’s young Malcolms and Jocastas have been set to disco-ing away to raise funds.
I’m sure David Harding-Price’s resemblance to his father is purely superficial. He declares a liking for McDonald’s psychiatry – and from the size of him it looks like the patients are buying!
His advice to terminally-ill youngsters (within a 50-mile radius of Lincoln Cathedral) is of a practical stripe – "hassle your ward or community based nurse or your social worker" – for a laptop!
This will knock cancer for six, and is obviously a far more plausible type of medical assistance than shoving your hand down a bewildered teenage road-accident victim’s pants or swindling some nutter out of his Florida real estate.
INDUSTRY GROWTH MEANS GROWTH INDUSTRY
Dying teenagers look set to become a growth industry. This year saw a Colgate-sponsored Harvard dentist investigated for saying some research showed no association between fluoride and bone cancer – when it said exactly the opposite.
What’s to investigate? It must have done, otherwise we would be able to read it. So he’s a liar. Investigation over.
As I continue to avoid the trusting backwoods yokels’ miracle treatment, and to look younger and less fucked-up than everyone around me, I’m very sorry about my inability to prove from the above that contamination of the natives’ water with radionucleides by Matt’s grandad’s best mate Dr Jenkins and her colleagues on the former North Lincolnshire Health Authority (and before that Lincoln City Council and the Lincoln and District Water Board) is responsible for this pandemic of rare diseases, involving the type of suffering which only laptops can alleviate.
Or that fluoride intoxication generally is a factor in Lincolnshire’s extraordinary criminal behaviour on the roads and elsewhere.
This is not how we do statistics, and of course the idea that there is any link between the intake of chemicals and behaviour
must seem ludicrous to normal, docile, uncritical, conventional, authority-led, fluoridated people.
Mr Harding-Price Jr., now Chairman of the RCN Mental Health Practice Forum is, to his credit, something of an opponent of hardline government plans "that would have meant mentally ill people living in the community could be forced to take their medication, and dangerous people with severe personality disorders could be detained, even if they had not committed a crime."
All we need now is an end to forced medication for people simply because they may have dangerous teeth.
And the compulsory detention of deranged councillors and health officials whose megalomania is so severe that they end up prescribing fertiliser factory waste for the whole population, thus increasing the mineral and vitamin requirement of those they deludedly believe are their "patients" – i.e. everyone.
I’m sure doctors don’t want to see health food shops benefit from their unqualified colleagues’ actions.
And a spell drying out in a secure unit wondering when they can go home would do many of our local politicans a power of good.
But I would say one thing to the Chief Prosecutor’s successor…
You don’t have to be Einstein.
Happy New Year, everyone!
.
Choosing an IFA When Looking for Financial Advice
Article by Sarah Shore
You work hard, and you play hard. Now you want to invest in either property, stocks, shares or something else. Now is the time to start planning exactly how to make your money work for you. Independent financial advisors, or IFA’s, are there to assist you in achieving the financial goals you have always wanted to attain. From IFA London to IFA Birmingham and everywhere in between, talking to a financial advisor can really set you on the right path. These are the top six ways that a good IFA can help you and your finances.
Retirement PlansPlanning for a great retirement means more than just paying into a pension. You need to organise your assets and look for ways to maximise wealth in the time that you have. A financial planner who is independent can assist you in working out your pension in your favour. This way you know that the money going into your pension is going to protect your future and allow you the retirement that you deserve, whenever that time comes.
Property investment If you are thinking of investing in property of any kind, then talking to a financial advisor is recommended in order to set you off on the right track. Sound investment into the property arena is achievable with the right information and advice. The rewards you can potentially reap are large, but again there are also risks so it is a good idea to know where you can go, how much you can invest and what the returns on investment are likely to be. Property investing comes with many benefits such as some tax breaks and rising property prices, but it can also be fraught with pitfalls if you buy at the wrong time or if the investment is not managed correctly. Find out how the land lays in your area by talking to the right people, sooner rather than later.
Pay less taxIf you do not know that you are eligible for certain tax breaks, or you are unaware if you are paying too much tax, then you could be wasting a lot of money. Reviewing your tax payments, your personal situation and any savings that can be made can save some people a lot of money. Do not pay more tax than you need to and put that money to better use by investing it or leaving it in a high interest savings account. Speaking with an independent financial advisor also allows you to take tax considerations into account before making any investment decisions. There may be tax breaks associated with some investment, and tax increases with others. It makes sense to balance out your investment choices with the right tax knowledge to ensure no nasty surprises further down the track.
Estate planning It might not be a dinner table topic, but planning for your succession is important when it comes to financial security for all your family. You have worked hard for your money and now you want to protect it. Just some simple steps such as talking through decisions with your family, assessing any investments or businesses for their value and looking at your pension or personal insurance can give you a greater understanding of where you stand and how to plan for the future,
Debt reduction strategyIf you are concerned about your level of debt then the sooner you take a look at it the sooner you can get rid of it. Seeing a financial advisor will allow you the opportunity to tap into a wealth of knowledge and experience. Reducing your debt now is the first thing you should do on the road to financial freedom and there are many ways to do this. A good financial advisor can assess your situation, your personal goals and dreams, and then put together recommendations for reducing your debt level.
An IFA London may differ in product offerings from say, IFA Birmingham but all should follow the same code of conduct and base their advice on industry knowledge. This means that no matter where you live, or how much you have to invest, consulting an IFA that you can trust and respect is a great thing for your financial future.
EricksonTV: To Join the Doomsayers or Not to Join…
Financial Advice question by guerrero82: I need sound financial advice? What’s a good amount of money to have in your savings?
I’m a substitute teacher so I don’t make a ton. What percent of my paycheck should I be saving?
Financial Advice best answer:
Answer by Tam To be honest, there is not a set amount. You should save whatever you can whilst still being able to live comfortably in the present.
