financial advice online

I've been a financial planner for 10 years (CFP, CLU, and AAMS). I
recently started an online community of professional advisors and
members like people in here to share advice and tips.

I wrote a 44 page ebook on investment management with some excellent
tips and resources that the average investor doesn't know about. If
you're interested in joining the community and getting a free copy of
our new ebook, I'll waive the membership fee for the first 10 members
who email me @

The ebook covers how to create an investment policy statement and a
long term investment plan, how to reduce standard deviation, how to
improve your returns by reducing your taxes by properly allocating your
assets among taxable and non-taxable accounts, and much much more.

This isn't a gimmick, there are no high pressure sales pitches - I
don't even have any affiliate programs to make money or anything. I
just enjoy my profession and I enjoy helping people. I'm hoping to
make my community a great place to exchange good financial advice
online.

I'm also trying to get my forum community growing and it would be great
if you want too - to post a question here or there and let me know how
I can make my community better. You'll get expert financial advice in
an anonymous enviroment such as this - no gimmicks, no pressure.

I hope 10 of you take me up on the offer - Thanks!

www.cfpcafe.com

Re: financial advice online

Hi, I am very interested in join this professional community to equip
some financial knowledge. Can you send me a copy of the eBook? I am
eager to learn more on this topic. Thank you very much!

Best regards,
guofei

Re: financial advice online

"CFPCafe" <> wrote

> I wrote a 44 page ebook on investment management with some excellent
> tips and resources that the average investor doesn't know about. If
> you're interested in joining the community and getting a free copy of
> our new ebook, I'll waive the ***membership fee*** for the first 10
> members
> who email me @

Spam isn't welcomed here but I have some questions:

1. Why would paying you 24.95 each year be any better than going to
news:misc.invest.financial-plan for free?

2. What criteria was used in placing a value of $29.95 on your eBook? Why
should anyone thing is has any value besides a recycling value?

I posed a problem on the newsgroup (mifp) and you responded. Your response
was general in nature, did not address my question, and was of no value
whatsoever.

My questions:
> A couple in the zero federal tax bracket. Always funded IRA's to the max.
> Getting older.
> IRA's are traditional.
>
> In order to fund IRA's going forward taxable investments would have to be
> sold to fund them. This raises some questions.
>
> 1. Would it be better to not fund the IRA?
> 2. Should taxable investments be sold to fund it?
> 3. One of the people is over 59 1/2. Should he be drawing as much as
> possible without going into a taxable situation and putting that money
> into
> taxable investments?

Your totally irrelevant response:
Regarding the IRA rules, here's a cut and paste answering a members
question from my forum at www.cfpcafe.com

As long as you're under 70.5 years old AND receive earned compensation
(including alimony) you can contribute to an IRA. Your IRA will grow
tax deferred until you withdraw the money, at which point you'll pay
ordinary income taxes on the amount withdrawn (possibly a penalty if
you withdraw before age 59.5).

Here's where it gets tricky. If you contribute to an IRA and can't
deduct the contribution you'll only pay taxes on the amount of growth
you have in your IRA when you withdraw the money. If you can and do
take a deduction for the IRA contribution you will pay taxes on the
entire amount of the distribution. SO IT'S VERY IMPORTANT to keep
accurate records of both deductible and non-deductible IRA
contributions so you can avoid paying taxes on any amounts withdrawn
which you've already paid taxes on (the non-deductible contribution).

Whether your contribution is deductible or not depends on a few things.
If you or your spouse is an active participant in a qualified employer
sponsored retirement plan that may reduce or eliminate the
deductibility of your IRA contribution.

The maximum contribution for 2004 was $3,000, the maximum contribution
for 2005 to 2007 is $4,000, and in 2008 it's $5,000.

There's also something called a "catch-up" contribution. The catch up
contribution allows individuals who are nearing retirement and need to
get more money saved to contribute MORE money to their IRA's and
401k's. If you're at least 50 years old by the end of the year (in your
case you're talking about a 2004 contribution so you must have been 50
or older last year to take advantage of this) you can contribute an
extra $500 for 2004, BUT it get's better! For 2005 and forward it's an
extra $1,000!!!

For single or head of household filers who are covered by an employer
sponsored plan the deductibility of your IRA contribution phases out at
modified adjusted gross income (MAGI) of $45,000 and is completely NOT
deductible at $55,000. For 2005 that phase out range starts at $50,000
and ends at $60,000.

If both spouses work the phase out for deductibility is between $65,000
and $75,000 for 2004. That range increases for 2005 ($70,000 to
$80,000), 2006 ($75,000 to $85,000) and 2008 and after ($80,000 to
$100,000).

The maximum deductible IRA contribution for an individual who is not an
active participant but whose spouse is, phases out at AGI between
$150,000 and $160,000 joint.

The rules were changed recently so if you're married and you have no
income but your spouse does, you can in a sense "borrow" their income
for IRA purposes and fund an IRA also! (meaning you don't necessarily
have to earn the income to fund the IRA yourself).

I hope this helps, I know it may sound confusing so I HIGHLY recommend
consulting your tax advisor for further information, but this should at
least get you thinking a bit more about making that contribution if you
can!!
-------------

If this is any indication of the type of 'help' people will get at your
website I strongly suggest that people avoid it and stick with mifp, it's
value is superior.

Re: financial advice online

Here's a free eBook for you:









"guofei" <> wrote in message
news:
> Hi, I am very interested in join this professional community to equip
> some financial knowledge. Can you send me a copy of the eBook? I am
> eager to learn more on this topic. Thank you very much!
>
> Best regards,
> guofei
>

Re: financial advice online

Well, for starters you totally took the cut and paste about IRA rules
out of context. You say it was a totally irrelevant response, but the
prior couple of posts were regarding rules and how much you can fund an
IRA with and so forth - I had taken the time to write up the deduction
amounts and thought it would be helpful for people to see what they
were - so I cut and pasted them from the cfpcafe.com forum.

Maybe you didn't find that helpful but I'm certain others may have
found some value in the intricacies of IRA deductions, especially when
the question was about funding an IRA??? In fact I HAVE NO CLUE how
you could consider that irrelevant - anyone looking at the question can
see I was posting information on funding an IRA - NOT TOO MENTION it
was after several other posts - you make it sound like it was the first
answer - what's the deal with that?

I also find it unusual that you didn't copy over my other posts or
comment on my posts in other threads - only one of them. What point
are you trying to make? I started an online forum for financial advice
at www.cfpcafe.com so users could get good help from a CFP - If you
took the time to look at the information on the forum over there I'm
sure you'd find many lengthy answers to tough questions.

Why is paying $20 (it's $19.95 - 20% off of $24.95 if you bothered to
read) at www.cfpcafe.com better than here? I've got expert mortgage
advisors, insurance professionals, private banking experts and
accountants online in my forum to answer tough financial questions -
you're making assumptions about the advice and speaking ill of my goal
of helping people. Your assumption is incorrect! Are you a CFP? How
long have you been in practice? Are you a CLU? An AAMS? Are you
currently studying for another professional credential to make sure
you're helping people in the most current and wise manner possible?
Are you a member of 3 different financial societies and do you give
financial planning lectures for free to help people improve their
finances? I am and I do.

I've been a financial advisor since college. I have a financial
planning practice. I'm trying to make a living just like anyone else,
I figured I could reach out and help more people through my website -
and hopefully save people from making horrible financial planning
mistakes - what's wrong with that? If I can save one person from
getting taken by a broker offering poor advice to make a commission my
site is a success! I LOVE helping people make the most of their
personal finances :)

I'm sure you have a job, and you make a living doing it. Does anyone
flame you for that? I sure wouldn't.

I enjoy helping people achieve their financial goals - that's why I
started that site. I don't know how many CFP/CLU/AAMS credentialed
financial advisors with over 10 years of practical real-world
experience are on any of these groups - but I do know that I am one and
I like helping people with their finances.

As far as the ebook, you're right, I didn't know what value to put on
it. I know just one chapter alone is worth it's weight in gold in my
opinion (allocating your investments properly between taxable and tax
advantaged accounts). In that chapter alone I use easy to understand
charts and graphs to explain the value in allocating your taxable and
tax advantaged investments properly. If I were to charge for it, I
would charge something like $29.95. Instead I give it away free -
trying to help people. Have you spent weeks writing an easy to
understand ebook to help people?

Ed, I would venture to guess that if you were to take the time to read
it it would probably help you understand how to create an Investment
Policy Statement and allocate your assets better too!

I find it surprising that you would take the time to flame someone
who's trying to provide good advice to a greater number of people in
need of help - but that's your prerogative I guess. I'm sincerely
sorry you feel that way.

I spent weeks writing up a comprehensive simple to understand
investment management ebook, then offered it for free, and in fact I've
already given out several copies for free because of this post. If you
consider giving away 10 years of financial planning intellectual
capital spam - then so be it.

I REALLY FIND IT FUNNY THAT YOU CALL MY POST SPAM then post a link to a
financial website - where's the double standard?

Well, at the end of the day I certainly apologize if anyone took my
post as spam. I stumbled on these boards here and thought I could do
some good - you know, put my knowledge and credentials, experience at
two of the largest firms on wall st. and a multinational accounting
firm to use helping people on here too. I won't do that anymore, I'll
just focus on helping members at www.cfpcafe.com with their financial
planning.

The reason I was giving away memberships to www.cfpcafe.com by the way
is that the site is pretty new! Nothing more or less - I just started
it a month ago and since it IS all about helping people - I need some
people to help :)

By the way, I'm adding an entire free section for financial advice and
possibly some financial calculators at CFP Cafe as well. It's true, I
do charge $20 for a years membership - if you were to visit my office
in person I charge $250 an hour, $20 isn't so bad is it? I'm certainly
never going to get rich doing that - but ya know what? I should be
able to help a lot of people who can't afford $250 an hour!

Were you just having a bad day Ed? Honestly, was my post detailing the
intricacies of IRA contributions that bad? Is offering free
memberships where users can get advice from a CFP that bad? Is giving
away a 40+ page ebook on investments that bad?

Ed, I've dedicated my professional life to helping people - and I will
always enjoy helping people because I love my profession. I've seen
things that brokers do that would make you cringe, they would make you
sick to your stomach. I'm a fee only financial planner Ed - just
trying to help people out. I hate seeing people get taken advantage
of, I hate seeing people buy investments with buried fees and
commissions they don't even know they're paying. I'm just trying to
help people Ed.

Re: financial advice online

"CFPCafe" <info@> wrote

> Maybe you didn't find that helpful but I'm certain others may have
> found some value in the intricacies of IRA deductions, especially when
> the question was about funding an IRA??? In fact I HAVE NO CLUE how
> you could consider that irrelevant - anyone looking at the question can
> see I was posting information on funding an IRA - NOT TOO MENTION it
> was after several other posts - you make it sound like it was the first
> answer - what's the deal with that?

I believe that what I said was the answer you gave to my question was
irrelevant. It had nothing to do with the question I asked.

> I also find it unusual that you didn't copy over my other posts or
> comment on my posts in other threads - only one of them. What point
> are you trying to make?

I've sampled your knowledge and it's irrelevant and useless. Of course that
was just one question but no answer from you would have been equal in value
to the one you gave.

> I started an online forum for financial advice
> at .................... so users could get good help from a CFP

No, you started it so you could sucker people into paying you $20 for a
membership.

> I've got expert mortgage
> advisors,

so does mifp.

insurance professionals, private banking experts and
> accountants online in my forum to answer tough financial questions -

so does mifp.

> you're making assumptions about the advice and speaking ill of my goal
> of helping people.

People generally start a business to make money.

> Your assumption is incorrect! Are you a CFP? How
> long have you been in practice? Are you a CLU? An AAMS? Are you
> currently studying for another professional credential to make sure
> you're helping people in the most current and wise manner possible?
> Are you a member of 3 different financial societies and do you give
> financial planning lectures for free to help people improve their
> finances? I am and I do.

I'll take your word for it, I have no other evidence of it though.

> I've been a financial advisor since college. I have a financial
> planning practice. I'm trying to make a living just like anyone else,
> I figured I could reach out and help more people through my website -
> and hopefully save people from making horrible financial planning
> mistakes - what's wrong with that? If I can save one person from
> getting taken by a broker offering poor advice to make a commission my
> site is a success! I LOVE helping people make the most of their
> personal finances :)

For $20 a person I'd love 1,000,000 of them.

> I'm sure you have a job, and you make a living doing it. Does anyone
> flame you for that? I sure wouldn't.

All I said was that your advice to me sucked. It did. Don't get all bent out
of shape.

> I enjoy helping people achieve their financial goals - that's why I
> started that site.

Because you want to achieve yours?

> As far as the ebook, you're right

ad deleted.

> Ed, I would venture to guess that if you were to take the time to read
> it

Not much chance of that.

> I find it surprising that you would take the time to flame someone
> who's trying to provide good advice to a greater number of people in
> need of help - but that's your prerogative I guess. I'm sincerely
> sorry you feel that way.

Spam isn't welcome here, it doesn't matter how you try to hide the fact that
it's spam.

> I spent weeks writing up a comprehensive simple to understand
> investment management ebook, then offered it for free, and in fact I've
> already given out several copies for free because of this post. If you
> consider giving away 10 years of financial planning intellectual
> capital spam - then so be it.

I've sampled your "intellectual capital". No thanks.

> I REALLY FIND IT FUNNY THAT YOU CALL MY POST SPAM then post a link to a
> financial website - where's the double standard?

The only link I posted was to news:misc.invest.financial-plan, they have
nothing to sell, the group is free, moderated, and on topic. You on the
other hand have a product to sell, that's spam.

> Well, at the end of the day I certainly apologize if anyone took my
> post as spam.

There is no other way to take it. A link to a commercial website. You posted
it again 4 times your reply.

I stumbled on these boards here and thought I could do
> some good - you know, put my knowledge and credentials, experience at
> two of the largest firms on wall st. and a multinational accounting
> firm to use helping people on here too. I won't do that anymore, I'll
> just focus on helping members at ........... with their financial
> planning.

Good, I won't miss you.


More advertising deleted.

Re: financial advice online

So you'll let people post pyramid scams and the like here, but me
giving financial help to people is off limits?

What about your moderator rules in the plan section about not saying
anything that's unflattering - you're a moderator and the things you've
said are outright horrible! Do you post the same to other people?

I never intended to get into a pissing match with you Ed, I was just
trying to help out. You're right, it is a business, and my business is
helping people make the most of their finances.

The reason I referenced the site is because it made sense in the
context.

Aren't you a moderator Ed? Is this flaming and saying my information
sucks appropriate when all I'm trying to do is help out?

Correction

>> Well, at the end of the day I certainly apologize if anyone took my
>> post as spam.
>
> There is no other way to take it. A link to **YOUR** commercial website.
> You posted it again 4 times your reply.


As far as me posting a link to any website, commercial or not, I don't look
upon that as spam because it benefits me in no way. If I liked what you had
to offer and posted a link to your site because I thought it might interest
or help someone I wouldn't view that as spam either because it benefits me
in no way. Don't worry, I won't be posting your link.

Re: Correction

Is this spam ed



it's a couple of posts below

Why is my post spam and tons of others like this are not?

Re: Correction

So if some other member posted a link to my site you'd let that slide
huh?

Re: financial advice online

"CFPCafe" <> wrote

> So you'll let people post pyramid scams and the like here, but me
> giving financial help to people is off limits?

You aren't giving anyone anything, you're selling it. This group isn't
moderated you can post here all you like, we'll always have a certain amount
of commercial junk here. I'm simply pointing out that spam isn't welcome.
It's not that difficult to understand.

> What about your moderator rules in the plan section about not saying
> anything that's unflattering - you're a moderator and the things you've
> said are outright horrible! Do you post the same to other people?

I'm not a moderator. If I were your ads wouldn't be seen here at all. We
wouldn't be having this discussion.

BS deleted.

Re: Correction

I sent over a copy of the book to guofei - I guess he thought it might
be helpful. Don't you think there may be others who would also Ed?

Re: Correction

"CFPCafe" <> wrote

> Why is my post spam and tons of others like this are not?

There's lots of spam here, I have no control over it. When the same poster
just goes on and on (like you do) they usually just end up getting filtered
out of my newsreader.

Re: Correction

"CFPCafe" <> wrote

>I sent over a copy of the book to guofei - I guess he thought it might
> be helpful. Don't you think there may be others who would also Ed?

Would you send me a few hundred in print. Could use them to get the
fireplace going on chilly mornings.

Re: financial advice online

Not true - I've already given out several copies of the book to people
who saw this thread - didn't make a dime - but ya know what Ed? I bet
ya I helped some people understand their investments a bit better.

How is it you can delete stuff but you're not a moderator?

A certain amount of commercial junk? Every other post is commercial
junk it seems here. I was offering help - help without charge...

I am glad we're having this discussion though, it's always good for me
to get input and opinions - it helps me figure out how to make the site
better and help more people. So I even find value in criticism!
Although saying this and that "sucks" as you have isn't highly
constructive.

Re: Correction

How does one filter out using a newsreader?

Re: Correction

ha ha - that is a good one :)

I'm still having trouble figuring out why a detailed post on the
contribution limits wasn't relevant to a question about IRA
contributions? Why is that seriously Ed?

Re: Correction

Oh, I'm also curious why you haven't gone into the other spam threads
and flamed them? Is it because I actually had something positive about
financial planning to say?

Re: Correction

Ed, I'll make you a deal. Seriously now, if I send you over a copy of
the ebook - would you read it? I'd be totally fine with you
criticizing the book if you genuinely thought it was junk ( I know it's
not so I'm not too worried about it ) But I honestly think it's pretty
unfair of you to just jump in and start tearing me apart for no real
reason. Seriously - I bet you you'd find at least one thing that could
honestly help you with your investment planning.

If not - I'll eat crow - no joke! If you don't honestly find one thing
that can help you and actually make a positive impact on your
understanding of investments and investment planning I'll start a new
thread here that I'm eating crow - what do you think? I'll just have
to assume you did in fact read it and you are in fact telling the
truth, but if you're honest at all you'll tell the truth, and I'd take
your word at it.

Re: Correction

"CFPCafe" <> wrote

> I'm still having trouble figuring out why a detailed post on the
> contribution limits wasn't relevant to a question about IRA
> contributions? Why is that seriously Ed?

Your reply was to me. I was referring to your response to my qestion(s)
posted on mifp. It was irrelevant. Anyone can see that.

Once again:
My questions:
> A couple in the zero federal tax bracket. Always funded IRA's to the max.
> Getting older.
> IRA's are traditional.
>
> In order to fund IRA's going forward taxable investments would have to be
> sold to fund them. This raises some questions.
>
> 1. Would it be better to not fund the IRA?
> 2. Should taxable investments be sold to fund it?
> 3. One of the people is over 59 1/2. Should he be drawing as much as
> possible without going into a taxable situation and putting that money
> into
> taxable investments?

Your totally irrelevant response:
Regarding the IRA rules, here's a cut and paste answering a members
question from my forum at ...................
As long as you're under 70.5 years old AND receive earned compensation
(including alimony) you can contribute to an IRA. Your IRA will grow
tax deferred until you withdraw the money, at which point you'll pay
ordinary income taxes on the amount withdrawn (possibly a penalty if
you withdraw before age 59.5).

Here's where it gets tricky. If you contribute to an IRA and can't
deduct the contribution you'll only pay taxes on the amount of growth
you have in your IRA when you withdraw the money. If you can and do
take a deduction for the IRA contribution you will pay taxes on the
entire amount of the distribution. SO IT'S VERY IMPORTANT to keep
accurate records of both deductible and non-deductible IRA
contributions so you can avoid paying taxes on any amounts withdrawn
which you've already paid taxes on (the non-deductible contribution).

Whether your contribution is deductible or not depends on a few things.
If you or your spouse is an active participant in a qualified employer
sponsored retirement plan that may reduce or eliminate the
deductibility of your IRA contribution.

The maximum contribution for 2004 was $3,000, the maximum contribution
for 2005 to 2007 is $4,000, and in 2008 it's $5,000.

There's also something called a "catch-up" contribution. The catch up
contribution allows individuals who are nearing retirement and need to
get more money saved to contribute MORE money to their IRA's and
401k's. If you're at least 50 years old by the end of the year (in your
case you're talking about a 2004 contribution so you must have been 50
or older last year to take advantage of this) you can contribute an
extra $500 for 2004, BUT it get's better! For 2005 and forward it's an
extra $1,000!!!

For single or head of household filers who are covered by an employer
sponsored plan the deductibility of your IRA contribution phases out at
modified adjusted gross income (MAGI) of $45,000 and is completely NOT
deductible at $55,000. For 2005 that phase out range starts at $50,000
and ends at $60,000.

If both spouses work the phase out for deductibility is between $65,000
and $75,000 for 2004. That range increases for 2005 ($70,000 to
$80,000), 2006 ($75,000 to $85,000) and 2008 and after ($80,000 to
$100,000).

The maximum deductible IRA contribution for an individual who is not an
active participant but whose spouse is, phases out at AGI between
$150,000 and $160,000 joint.

The rules were changed recently so if you're married and you have no
income but your spouse does, you can in a sense "borrow" their income
for IRA purposes and fund an IRA also! (meaning you don't necessarily
have to earn the income to fund the IRA yourself).

I hope this helps, I know it may sound confusing so I HIGHLY recommend
consulting your tax advisor for further information, but this should at
least get you thinking a bit more about making that contribution if you
can!!

Re: Correction

"CFPCafe" <> wrote

> Seriously now, if I send you over a copy of
> the ebook -

you can't, you don't have my e-mail address.

> would you read it?

No, I've wasted enough time on you already.

Re: Correction

Hmmmm, Maybe I can see what you're saying. You're saying based on the
first question, my post (which was a few responses down actually) was
not relevant to the first question?? Is that correct?

Ok, I'll give you that one TO SOME EXTENT. My post regarding
contribution limitations and such was not COMPLETELY relevant to the
question originally posted. It was however (in my humble opinion)
relevant to the general topic of IRA's and where to put money. But, to
some extent I can see what you're saying that my post was not EXACTLY
on the question topic.

Hmm, well seriously here's what was going through my mind "I've already
typed up all of the IRA rules for people at ****financial website not
posted***** so maybe I can save some people work on figuring out the
contribution rules in that IRA question I saw on google groups" -
that's what was going through my mind, nothing more.

Ed, in all honesty I've been snooping around some of these threads for
a couple of days and I've seen topics get totally sideways several
posts down and not even close to relevant! You also noted something to
the effect of "thanks for the info" or something like that if I
remember correctly to one of my posts??

Oh well, I give up. You win Ed. My offer stands - I'll eat crow if
you take me up on it. You're right, it is a business, my financial
planning practice is a business, and the site is also - but I genuinely
like helping people, that's all I was trying to do here.

You don't know me so you don't realize how passionate I am about
helping people avoid common mistakes with brokers and poor financial
decisions and such - that's what was coming out. My mistake... Thanks
for enlightening me however Ed (seriously, not sarcastically)

Re: Correction

Well I meant if you send me your email address I would send you one -
that's all.

Re: financial advice online

"CFPCafe" <> wrote in message
news:

> I LOVE helping people make the most of their personal finances :)

Your ass.
You love spaming in hopes of finding suckers to pay you $20.

Re: financial advice online

"CFPCafe" <> wrote in message
news:

[SNIP]

> I find it surprising that you would take the time to flame someone
> who's trying to provide good advice to a greater number of people in
> need of help - but that's your prerogative I guess. I'm sincerely
> sorry you feel that way.

[SNIP]

OK. I'm guessing that you are new to Usenet. The person you are trying to
incredibly hard to reason with is what is called a "troll." He has very
little interest in discussing mutual funds nor investment strategies. He
has been tempted by his imagined anonymity to vent the dark forces lurking
in his twisted subconscious. If you review his incredibly voluminous past
posts, you will see that you are dealing with one very sad case, indeed.

Most of us have added him to our blocked senders list and, consequently,
cannot see his side of this, or any, conversation. Those who haven't have
dark forces of their own to deal with, I suspect. Nonetheless, thank you
for not quoting him.

-herb

Re: Correction

"CFPCafe" wrote

> You also noted something to
> the effect of "thanks for the info" or something like that if I
> remember correctly to one of my posts??

I thanked all those that responded for their thoughts, not anyone
individually.

Re: financial advice online

"Herb" <> wrote

> OK. I'm guessing that you are new to Usenet. The person you are trying
> to
> incredibly hard to reason with is what is called a "troll."

This message is a great example of trolling.

I smell an insurance background....

You're doing this out of the kindness of your heart?