Armchair Millionaire Community Bulletin: An Expert by Your Side

New York, New York (PRWEB) November 15, 2005

The world is growing ever more complex and with it, the complexity of managing your financial and legal affairs. While turning to experts for help used to be something only for the rich, more and more people are finding that they can save time, money and headaches by enlisting a professional to help out.

To get an idea of how folks are using experts these days, we asked members of the Armchair Millionaire community about their thoughts on getting professional financial advice. Here is what we heard:

“I suggest using a financial planner. I used a CPA for many years that I was very comfortable with to do my taxes, and when he became a Certified Financial Planner, it was an easy move to solicit his advice on retirement and financial planning.”--Steve

“I use my CPA as my financial advisor. She gives me a lot of advice--not stocks or funds--but ways to define my financial life that has lots of advantages that I wouldn't know about otherwise.” --Paulie

“I'm really moving in the direction of seeking some professional assistance. I'm surprised that I'm considering it because I was always so insistent on going it alone. But I think there are some advantages to having my money actively looked after, especially in the areas of tax planning and of maximizing the tax-deferred savings plans available to me.” --Janna

Even dyed-in-the-wool do-it-yourselfers can use a little expert help now and then. The trick is knowing when you need it and who to call. My guide shows the way.

The Armchair Millionaire’s Guide to Getting Expert Advice

Financial planners. These experts give overall planning assistance, including assessing your current situation, helping define your goals, developing a plan to achieve your goals and then putting that plan into action. Many planners have earned the Certified Financial Planner (http://www.fpanet.org) designation. When you might need one: Often the best time to see a financial planner is when you’re facing a particular challenge, such as saving enough for retirement, planning for the birth of a child or handling an inheritance.

Public insurance adjusters. These experts go to bat for you when you’ve sustained a property loss. They assess the damage, organize your claim, and then work with your insurance company to ensure that you get an equitable settlement. Public adjusters are certified by the National Association of Public Insurance Adjusters (http://www.napia.com). When you might need one: If you’re making a substantial claim and think you’re not getting a fair shake from your insurance company, a public insurance adjuster can help.

College planning specialists. These experts help prepare you for those tuition bills, advise you on financial aid and student loans, and assist with implementing tax-efficient strategies. Certified College Planning Specialists (http://www.niccp.com) also have certification and/or licensing as financial advisors. When you might need one: Whenever you’re facing special challenges saving for college--if your kid has her heart set on an expensive school, if you’ll be sending more than one child at a time, or if you’re trying to save for college and retirement at the same time.

Car buying agents. These experts deal with the dealers, finding the car you want and negotiating the price. There are no certifications for car buying agents, but any Internet search will turn up a gaggle of them. Look for one who gets paid by the customer--you--and not the car dealership. When you might need one: If you’re looking to buy an unusually expensive vehicle, or if you just can’t face the prospect of haggling with a car salesman.

Mediators. These experts help conflicting parties reach amicable agreements. They can help with legal disputes, divorce and workplace conflicts, to name but some areas. Mediators receive training and certification from a variety of organizations, but two places to start a search are the Association for Conflict Resolution (http://www.acrnet.org) and the Mediation Network (mediationnetwork.net). When you might need one: When you have a dispute that must be settled and want to avoid litigation--and the high-priced attorney that litigation requires.    

THE BOTTOM LINE: When you’re faced with money matters or legal issues that are more than you can handle, enlisting an expert to help might be exactly the right move to ensure the right outcome--and avoid a major headache.

THE ARMCHAIR MILLIONAIRE WEEKLY SURVEY: When it comes to money, are you your own worst enemy? Log on to http://www.armchairmillionaire.com and let us know.

Lewis Schiff founded the Armchair Millionaire Web site in 1997. His first book, The Armchair Millionaire, was published in 2001. Schiff's newest report, "How to Know When You Are Rich," is now available at http://www.armchairmillionaire.com.

CONTACT INFORMATION:

Lewis Schiff

Armchair Millionaire

877-833-2823

http://www.armchairmillionaire.com

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