My mom does not seem to have much money for all the input her financial planner has been exerting. I thought I heard to say to someone that she had to have a financial planner because she used to operate a home-based day care. I am not sure what having a day care in the home should have to do with requiring a financial planner to come into the house. I am tired of him barging in this way.

I have complained about him in the past, but it seems like my complaints are received by other financial planners, even a person from the same company. It is like complaining about the government to the government.

Typically, these loans offered a low rate for two years (7.00% to 8.00%) with interest-only payments. After this, the rate would jump to 10.00 to 11.00% and so would the payments. People were told to spend the first two years concentrating on how to fix their poor credit records and to stabilize their household incomes. Unfortunately, many borrowers didn’t follow this advice.

Today we have a huge foreclosure problem as a result of this reckless lending over the past few years. How could bankers be so stupid? Where were the federal regulators? Why didn’t people see a financial planner or CPA before they made the decision to take on so much debt with questionable terms?

Please write a one to two page commentary on your impression of the sub-prime lending issue. However, please make sure that you list a few solutions to this massive problem. If you were the President of the United States or a congressperson, what would you propose to do? If you were a CPA or Financial Planner, what advice would you give your clients who are in this mess? I look forward to your responses on this hot issue of the day.

CEO — chief embezzlement officer.

CFO — corporate fraud officer.

BULL MARKET — A random market movement causing an investor to mistake himself for a financial genius.

BEAR MARKET — A 6 to 18 month period when the kids get no allowance the wife gets no jewelry, and the husband gets no sex.
VALUE INVESTING — The art of buying low and selling lower.
P/E RATIO — The percentage of investors wetting their pants as the market keeps crashing.
BROKER — What my broker has made me.
STANDARD & POOR — Your life in a nutshell.
STOCK ANALYST — Idiot who just downgraded your stock.
STOCK SPLIT — When your ex-wife and her lawyer split your assets equally between themselves.

FINANCIAL PLANNER — A guy whose phone has been disconnected.

MARKET CORRECTION — The day after you buy stocks.

CASH FLOW — The movement your money makes as it disappears down the toilet.

YAHOO — What you yell after selling it to some poor sucker for $240 per share.

WINDOWS 2000 — What you jump out of when you’re the sucker who bought Yahoo @ $240 per share.

INSTITUTIONAL INVESTOR — Past year investor who’s now locked up in a nuthouse.

PROFIT — an archaic word no longer in use.

2) Cold calling or networking for new clients?

3) Executing trades online?

4) Planning investing strategies for specific clients?

5) Filling out tax forms and other dull paperwork?

6) Catching up on the latest revisions to tax rules, etc.?

Please let me know what you spend the MOST time doing. I’m considering becoming a CFP, but I’m not a very procedure-oriented person. I enjoy exploring strategies for clients, and meeting with clients, but I’m not much of a “fill out papers all day” kind of guys.

Thanks in advance for your help!