Furthering my financial education

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blackomen
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Re: Furthering my financial education

Post by blackomen » Wed Jan 06, 2016 10:32 am

If you want to work in the industry, go for CFA.

If you just need advice for managing your own investments, trustworthy forums and blogs are you friend.
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ochotona
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Re: Furthering my financial education

Post by ochotona » Wed Jan 06, 2016 11:38 am

blackomen wrote: If you want to work in the industry, go for CFA.
Not a CFP ?
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Re: Furthering my financial education

Post by blackomen » Wed Jan 06, 2016 3:43 pm

ochotona wrote:
blackomen wrote: If you want to work in the industry, go for CFA.
Not a CFP ?
CFP is fine too and one of the most respectable designations (in addition to CFA and CPA.)  Like the name suggests, it's best for a financial planner or advisor.
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ochotona
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Re: Furthering my financial education

Post by ochotona » Wed Jan 06, 2016 6:35 pm

Thanks
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Re: Furthering my financial education

Post by ochotona » Sat Feb 06, 2016 8:26 am

The CRPC class is relatively easy and fun. A few time value of money brain teasers sharpened up my TVM calculation skills. It's a good review, and I am learning new things. But, as expected, NO discussion of precious metals / commodities as an investable asset class. And it downgrades "timing" as an investment strategy. To be expected. Definitely worth the money, even if I never use the designation as a professional. If the knowledge helps me to avoid one costly mistake, it was worth it.

BTW, the CFP I can't get, because it requires several years of financial industry experience. I am still in geoscience (ah... for the time being). It will all depend on the price of oil.
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Re: Furthering my financial education

Post by ochotona » Mon Jul 25, 2016 7:27 pm

One day before the deadline, I tested and earned the CRPC designation. I learned quite a bit more than I expected, mostly around how the government is out to screw everything that moves. I'm glad I did it, I am certain it was worth the time and money. I would not have ventured into all of the curriculum topics by myself without the carrot-and-stick of extra letters to put in back of my name, and maybe failing a test. What I learned mostly did not overlap with my MBA, which surprised me. MBA students don't spend any time studying Social Security Retirement and Disability, Medicare / Medicaid, Pensions, etc. all vital for retirees.

Ochotona, MBA, CRPC
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Re: Furthering my financial education

Post by Mountaineer » Tue Jul 26, 2016 4:57 am

ochotona wrote:One day before the deadline, I tested and earned the CRPC designation. I learned quite a bit more than I expected, mostly around how the government is out to screw everything that moves. I'm glad I did it, I am certain it was worth the time and money. I would not have ventured into all of the curriculum topics by myself without the carrot-and-stick of extra letters to put in back of my name, and maybe failing a test. What I learned mostly did not overlap with my MBA, which surprised me. MBA students don't spend any time studying Social Security Retirement and Disability, Medicare / Medicaid, Pensions, etc. all vital for retirees.

Ochotona, MBA, CRPC
Congratuations! And, thanks for the analysis.

... Mountaineer
"Blind reason gropes around in matters belonging to God (1 Corinthians 2:14). According to its own imagination, reason seeks consolation in its own works and cannot remember Christ and faith." Smalcald Articles III III 18
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Re: Furthering my financial education

Post by ochotona » Tue Jul 26, 2016 5:12 am

Estate planning basics, same sex marriages and domestic partnerships, income tax strategies, the list of government fostered pitfalls goes on and on... I leapt up in a rage when I realized my wife's Social Security is going to be dinged because of GPO WEP. I got sad when I saw all of the non-obvious mistakes my Dad made in his retirement which caused him to run out of money.

You don't know what you don't know, until you take a class.
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Re: Furthering my financial education

Post by Xan » Tue Jul 26, 2016 8:23 am

ochotona wrote:Estate planning basics, same sex marriages and domestic partnerships, income tax strategies, the list of government fostered pitfalls goes on and on... I leapt up in a rage when I realized my wife's Social Security is going to be dinged because of GPO WEP. I got sad when I saw all of the non-obvious mistakes my Dad made in his retirement which caused him to run out of money.

You don't know what you don't know, until you take a class.
Sounds like it's worthwhile for my folks (approaching SS age) to seek out a CRPC. Any tips?
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Re: Furthering my financial education

Post by MachineGhost » Tue Jul 26, 2016 10:10 am

ochotona wrote:Ochotona, MBA, CRPC
MBA is about managing people/organizations, no?

I never heard of CRPC before you mentioned it, but it sure sounds more real-world useful than ChFC, CFA or Series xx.
"All generous minds have a horror of what are commonly called 'Facts'. They are the brute beasts of the intellectual domain." -- Thomas Hobbes

Disclaimer: I am not a broker, dealer, investment advisor, physician, theologian or prophet.  I should not be considered as legally permitted to render such advice!
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ochotona
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Re: Furthering my financial education

Post by ochotona » Tue Jul 26, 2016 11:59 am

There is no CRPC study guide from 3rd party vendors, but there are for the CFP. A CFP study guide from Amazon will expose you to what the CRPC covers, and more. The CFP is more ambitious than the CRPC. If you want the designation, the course is "only" $1200. Much less costly than Trump University.
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Re: Furthering my financial education

Post by Desert » Wed Jul 27, 2016 6:21 pm

ochotona wrote:One day before the deadline, I tested and earned the CRPC designation. I learned quite a bit more than I expected, mostly around how the government is out to screw everything that moves. I'm glad I did it, I am certain it was worth the time and money. I would not have ventured into all of the curriculum topics by myself without the carrot-and-stick of extra letters to put in back of my name, and maybe failing a test. What I learned mostly did not overlap with my MBA, which surprised me. MBA students don't spend any time studying Social Security Retirement and Disability, Medicare / Medicaid, Pensions, etc. all vital for retirees.

Ochotona, MBA, CRPC
Congratulations!

If you're still considering a career change into Financial Planning, this book is an interesting read:
https://www.amazon.com/So-You-Want-Fina ... p_1#navbar
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