The following is part of Blueleaf’s The “Dear Advisor” Campaign, encouraging open collaboration and service innovation in the financial industry like never before.
Letters are submitted by members of the general public who, at all stages of life, have an honest message to share with you. Let’s redefine what “value to my client” means.
Erika Gordon works as Community Manager at Mobee, a data crowdsourced collection company based in Boston, MA.
It is so funny, I was just talking about how I wanted you to be around the other day, and here you are. Thanks for stopping by!
Here’s my story… I have a reasonable income, I don’t have any extravagant number in the bank, but I am content with where it is. I can live life “comfortably”. Stressing about money is usually never an issue. When talking about finance, I really like to plan and I like to save. Actually, I love to save. I have a Roth IRA, I have a savings and a checking account, I have one credit card, yet I am not satisfied.
I like to make my financial decisions modestly, not too risky for fear of loosing what I’ve worked hard to save. I believe I have a decent sense on how to budget and how to make good decisions (ex: “Can I afford that?”) but I am not satisfied because I lack the understanding and knowledge of where to go next. I would love to walk into a room to someone who has that knowledge. I would like to present them what I have, all of the amounts, where they are, and then receive the marching orders or options for how to move them around.
Here are my questions: How do I make my money grow? How much money should I keep in a regular “savings” account? When is the right time to start investing? Where should I begin and how much time or involvement will that require? For someone who isn’t used to making risky decisions, where do you suggest I focus and are there any tips or resources you recommend for getting started?
I’m looking forward to some advice to get me up and moving.
← Last week’s letter: Dear Advisor: Why haven’t I heard from you?