Frustrations exist with every job that makes you interact with people. Especially one where they ask for your help, and then ignore your advice completely.

This financial advisor, imgur user ,
shared some of his most face-palm worthy experiences with clients. He also shares some useful financial tips.

Unfortunately my client was family. I noticed that the Walmart bill was unusually high (at about $3000/mo). We did a little digging and discovered that his wife was going to the store almost every day, buying something small, and getting the maximum cash back. She then stored this in a secret account under her son's name (we later discovered). We eventually learned that she was a con lady and pulled this with 2 other husbands that she never told my relative about. They're divorced now.

Boils down to spending a little over $100/day on gas, fast food, and alcoholic drinks. They weren't wealthy by any means. The wife's parents had given them a substantial financial wedding gift to cover a down payment on a new home. They came to me as they ran through the last of it.

I get asked this question more than I care to remember. As much as I wish I had a magical phone number to call that would eliminate all debt while simultaneously increasing their income, I don't. As a financial adviser, what I do is implied in my title. I give advice. It takes self-control and a little (or a lot of) work on your end to right a financial boat and prepare for retirement. Yes, I have tools, a financial education, and experience to help you, but it the end it comes down to you and what you choose to do with it.

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Ok. BIGGEST THING I CAN TEACH ANYONE IS THAT THE LITTLE THINGS ADD UP!!!!!!! [Also, see list at the end]. ($4.95*2+$4.99 (not counting tax))= $14.89. If you do that as your morning routine every work day that's $3,871.40/year. Spent on poop. And not even all day poop. That's just your morning poo.

This client was the furthest in debt out of all my personal clients. He owed more than $149,000.

EVER. EVER. EVER. EVER. I'm probably going to get some flack for this one because whole life is industry standard, but at the end of the day, it's a P.O.S.! My higher up described it as a bucket that filters out money from the top and has a giant open hole at the bottom. It's designed to make the money for the company, not you. They make it sound like you can get the 'savings' account and the life insurance payout at the end of your term, but it's actually either or. This fact, in addition with the knowledge of fees, interest, and actual benefit as compared to cost leads to a bad end. Buy term and invest the difference.

Their refund was enough to buy a washer and dryer, a 52'' TV, and new couches to get rid of their $350/mo object rental bill that was killing their budget. It was also enough to pay for their car repairs, insurance for 6 months, and pay off their traffic tickets.

Instead they treated their very large extended family to Olive Garden, bought new beds at a luxury store, bought a dog at a pet shop, and new rims for their car.

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The BEST time to start thinking about retirement is when you're young. If you save only $50/mo from age 20 through age 75 (total investment of $33,000): 1) at 5% interest you'll have $175,369.86 2) at 10% you'll have 1,440,979.52 3) at 12% you'll have $3,587,460.74!! Start investing at 30? $101,744.04/ $528,492.79/ $1,083,462. Start saving NOW.


They had paid less than $3000 out of their $40,000 loan. They had 2 cars, both in the same situation.

This. No. Just no. Everyone needs a budget. Millionaires need budgets. College students need budgets. Happy families of 4 need budgets. Dual income, no kids couples need budgets.


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