1. Tell me that "the silliest thing you could do at your age is put your money in a CD."
2. Repeatedly say that "You should have done something about my CD yesterday."
3. Make me feel like I have to make excuses/give explanations for how I choose to manage/save my money.
4. Expect me to take out my cell phone right then and there and give him names/numbers of my friends to partake in a future consultation.
5. Continue to press me when I said that I DON'T want to refer my family members. And then point out: "Don't you care about the financial future of your family?"
6. Say in a disparaging tone: "You definitely need our help."
Yeah, that's not how you do it.
So my good pal Johnny is starting off as a financial planner and he's trying to build his client base. His presentation was fine- I felt at ease and was comfortable in asking questions. Also, I didn't feel judged by him. But then his boss came in and it went downhill from there. He was pushy and made me feel defensive.
I left the consultation feeling like crap. In fact, I still felt cruddy this morning. Johnny is a very good friend and I'd throw down for him as well as for some of you guys anytime. I'd really like to help him out but at this moment I really can't. Even though I would love to have a financial adviser, I simply can't afford one at this time. I understand that in the long run I'll get that $500 back and then some. And I do foresee myself making this investment in the next couple years, but not right now. Even though I'm only 23 I think that I'm on the right track when it comes to saving $ for retirement. I just have to continue that track and take some risks here and there to build my nest egg. But I certainly don't think that I'm so hopeless to the point that I'm clueless. Doh.
Ugh. Well, I called Johnny and told him how he felt. He explained to me why his boss was like that. Still that doesn't change the way I feel. I'm not upset at you Johnny! Don't take it personal!
The positive thing is, this experience has motivated me to learn about other investment options that I can do on my own for now since I have some free time. Shoot, they shoulda taught you some of this stuff in college. Now I gotta go borrow "Investment for Dummies" from the library. :)
4 comments:
its okay. it happens. as long as you feel good at the end of the day no need to worry about what other people say. the guy doesnt know you... to him, you represent money. OF COURSE you care about your family!:P
Jeannie, I think that you're doing pretty well. As you say yourself, you're only 23 and on the right track with respect to saving for your retirement. You've still got plenty of time to branch out.
It may bring you some - perhaps considerable - comfort to know that you're doing much better than people who are older than you (that would include me, I'm afraid) and haven't even started thinking about saving or investing money.
Personally, I believe that my future will be financially stable, because one (or more) of the following scenarios will be realized:
(1) I'll win in the lottery.
(2) One day, when walking down the street, $100 bills will suddenly start dropping from the sky. I'll look up and see a cloud of money hanging right above my head. This cloud will follow me for the rest of my life, and money will fall from the cloud when needed.
(3) I'll rob a bank.
Concerning (1), basic probability considerations will tell you not to expect (1) to be realized.
Regarding (2) ... well, that's just plain stupid.
As for (3), I must confess that I'm not exactly the most practically minded person around. This is very unfortunate in relation to (3),
because robbing a bank appears to be the kind of thing that would require extensive planning which, in turn, would involve all sorts of practical matters - getting together a team, acquiring weapons (and being able to hold the weapon with enough to credibility to look threatening), figuring out how to get away, and whatnot.
The mere thought of taking care of all these things exhausts me - and it confuses me too. In order to keep the level of confusion to a minimum, I've adopted the following principle: keep things simple. Applying this principle in my planning, the best plan I've come up with thus far is this:
Act alone - don't work with a crew. The need to communicate is just a potential source of error.
Favoured weapon: chopsticks. Why? Well, I have some idea how to work them, and there's reason to believe that I look somewhere between mildly to moderately threatening with a pair of chopsticks in my hand. At least I get nothing but respect from shrimps when I pick them up. They stay quiet and don't try to escape.
Get away on foot. Relying on a car would just be another potential source of error. It might break down. Or I might forget to feed the meter and have to excuse myself mid-robbery in order to do so, thereby losing the advantage of catching the bank staff by surprise when shouting, "The money or your life!" (here you'll have to imagine me forcefully pointing the chopsticks towards each of the people present, just to let them know that they had better behave or else I'd ... ehmm ... poke them?)
This strikes me as a rather grand plan. It's simplicity itself.
Be that as it may, I have to admit that it would be difficult to execute successfully. I conjecture that one of two things would happen if I were to ever go ahead with it:
(i) the bank staff would think it as some kind of a practical joke and be flat on the ground laughing,
or
(ii) the bank staff would be flat on the ground laughing, but realize that I was being serious and call the cops.
In both cases I'd be the laughing stock of everyone present in the bank. With (ii), I'd end up in jail too. However, the crucial thing to observe in our present context is that, either way, I'd not get a single dollar.
What's the point of all this? Well, this:
Jeannie, cheer up! You're doing well. You're already on your way, and, in contrast to some of us, you should be congratulated for not hoping - let alone believing - that your future financial stability will be secured in some highly improbable, stupid or idiotic way.
In fact, in light of your projected earnings, I do not at all feel ashamed to let you know that I'll be available any time you want to take me out for dinner. This is not me being cheap, but rather me putting forward a vote of confidence.
Best wishes,
NJP
That's a great post. Finances are always really difficult to work with. You'll be alright.
Cheers,
Tyrone
Put your money in to an Etrade savings account. They give you 5% back monthly! Carlos got 5 cents back from just one dollar!
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