FinancialDominance.com » College

Jim Cramer: Get out of the stock market if you need your assets in the next five years

Marcel — Tue, 07 Oct 2008 07:12:39 +0000

That’s essentially what Jim Cramer is saying.

“I thought about this all weekend. Whatever money you may need for the next five years, please take it out of the stock market right now, this week. I do not believe that you should risk those assets in the stock market right now.”

“I don’t care where stocks have been, I care where they’re going, and I don’t want people to get hurt in the market. I’m worried about unemployment, I’m worried about purchases that you may need. I can’t have you at risk in the stock market.”

But what if you can wait longer than 5 years… ?

“I think what you have to do, if you can withstand it, is just ride it out,”

“I think the previous quarter, the one we’re now hearing from, was a terrible quarter – but it will look good versus the coming quarter.”

Should I become a Certified Financial Planner ?

Marcel — Thu, 26 Jun 2008 18:50:37 +0000

Blame it on this blog but owning Financial Dominance has turned my attention toward a career in Financial planning. Should I become a Certified Financial Planner ?

I am a Web developer with a Bachelor degree in Computer Information Systems. I am deeply interested personal finance/money management and obviously want to broaden my career.

What do you guys think ? The salary is a nice upgrade.

certified financial planner $71,000
Webmaster $67,000

View Larger Salary Graph

The school is at ROYTEC. The education program is in association with Advocis of Canada.

Videos about Certified Financial Planners

Thinking About Ditching School? Think again.

Marcel — Fri, 17 Aug 2007 12:00:16 +0000

I wrote a couple of weeks ago about the value of a college education and how a degree is almost mandatory for many white-collar employers. In many cases it is not because the employer thinks there is no way a person without a degree could do the job, but because they want to speed up the hiring process.

Imagine you are the hiring manager responsible for hiring a new employee. You send your request out to Monster.com and receive 100 resumes. The first thing you are going to do is what I call a “superficial elimination.” In this process, you are going to weed out all the resumes that do not meet some arbitrary criteria you have established. In my experience, the first thing I look at is a college degree. Not because I think non-degreed people are incompetent, but because I want a fast way to eliminate a decent chunk of resumes.

However, some people continue to push their belief that college is unnecessary. Now, to be frank, I agree with them to a point. Mostly on the following:

Rather than learning what you need, you’re buried under mountains of information, most of which you’ll never use, and the rest of which you’ll probably long have forgotten — or it will have become obsolete by the time you need it.

This was certainly the case with my undergraduate education. However, I retained the core principles of most classes. I just forgot the details.

I think the rest of his argument is downright dangerous to preach to 18 year olds. Some people can do very well in life without going to college, but they are the exception not the rule. The majority of people I know would fail horribly if they had to follow his path to getting a job:

Have a mentor
Read key articles and books
Attend conferences
Do apprenticeships along a master practitioner

Bottom line: Get a college degree at a public university to save on tuition costs. Allow yourself to mature through college and do some internships. If you want to take some financial risks by starting your own business, do it. You have time to recover, and 22 is not too late to follow the rest of their advice about career advancement.