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I wouldn't trust a financial adviser (think Edward Jones type of guy) further than you can throw him/her. Most work on commission and because of that will be biased. However that doesn't mean that you can't gain from them though, nor that they're all "bad" (bad isn't really the right word I'm looking for). Are you looking for a no risk CD/savings account or a mutual fund/stock that gets you a much higher return, but carries risk? If you're looking for a no risk account that pays a mediocre rate, I'd check into ING Direct (Click Here). They're an online only bank that pay .80% on a savings account. ING Direct was started by ING Group and then sold to Capital One in 2011, so it isn't some shady bank/website. I've had an account with them since I was 18 and back then the interest rate was a whopping ~5%, however the meltdown killed that. The online bank thing works great if you're setting money aside for the future as it takes 3-4 days for it to transfer back to your local bank account. This keeps you from touching that money as you instantly have a 3-4 day period to reconsider that purchase. On the flip side if you're looking to get a bigger return, I'd suggest mutual funds over stocks as they typically have less risk. And most importantly, less work for you.
I wouldn't trust a financial adviser (think Edward Jones type of guy) further than you can throw him/her. Most work on commission and because of that will be biased. However that doesn't mean that you can't gain from them though, nor that they're all "bad" (bad isn't really the right word I'm looking for).
Are you looking for a no risk CD/savings account or a mutual fund/stock that gets you a much higher return, but carries risk?
If you're looking for a no risk account that pays a mediocre rate, I'd check into ING Direct (Click Here). They're an online only bank that pay .80% on a savings account. ING Direct was started by ING Group and then sold to Capital One in 2011, so it isn't some shady bank/website. I've had an account with them since I was 18 and back then the interest rate was a whopping ~5%, however the meltdown killed that.
The online bank thing works great if you're setting money aside for the future as it takes 3-4 days for it to transfer back to your local bank account. This keeps you from touching that money as you instantly have a 3-4 day period to reconsider that purchase.
On the flip side if you're looking to get a bigger return, I'd suggest mutual funds over stocks as they typically have less risk. And most importantly, less work for you.
