Financial Freedom or Fears?

I have to preface this by saying, I am not a financial professional. However, I have learned a thing or two while working with individuals and also certainly learned the lesson the hard way myself. I am talking about money! Selecting a financial advisor is one of the most critical decisions you will ever make. It can have a major impact on your finances and your future. Take a look at this ad I saw this week in the Wall Street Journal. It stresses how we put so much energy into minute activities, yet when it comes to our money, often we don't spend enough time investigating who or what is the overseer of our funds and what the associated costs are. I urge you to take your time. Ask questions.

• "What are your fees?"

• "What commission, if any, will you earn from my money?"

• "What are the annual fees with the fund or account my money will be placed in?"

• "Can I always access my money?"

• "Is there a termination penalty or fee?"

I would urge you to be very leery of annuities. Read the small print, the fine print, the pages and pages of explanation, and ask questions. When promises are big, there is always a catch. Like the ad advises, check out your broker. You can do the research at FINRA.