I`ve been working construction for the past couple of years saving money for my first real estate purchase. I make really good money for my age but I don`t wanna be doing this type of work forever. I`m only 20 and have always been interested in finance but haven`t been able to think of another career I could get into, that doesn`t take 10 years to make a decent wage. My friend told me Investors Group is putting him through school in Sept, to become a financial advisor with them. So I guess I was wondering if anyone in here does this type of work and if you like it? Good wages/commission? Does it fit well with being a real estate investor as well? Just looking for some general information from people who are doing it now, and didn`t know where else to ask. Any feedback is appreciated! Thanks alot!
Any financial advisors in here?
- Thread starter cailmoney
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- Jan 5, 2010
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Sorry, not my line of work, but I do take an interest in it as I know a few `advisors`. My take on this field is that often the advisors are forced to sell inferior `product` in order to make better commissions rather than selling better product that would actually be of more benefit their customers. I also have a bitter taste in my mouth because one of these advisors that used to be my friend sold me on one of above said inferior products and it cost me BIG with the CRA. I don`t know what kind of income you make in your current field, but the average income for financial advisors is not overly exciting... http://www.payscale.com/research/CA/Certif...er_(CFP)/Salary
Good luck with your search for something new.
Good luck with your search for something new.
- Joined
- Aug 10, 2010
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- 21
QUOTE (cailmoney @ Aug 11 2010, 04:12 PM) I`ve been working construction for the past couple of years saving money for my first real estate purchase. I make really good money for my age but I don`t wanna be doing this type of work forever. I`m only 20 and have always been interested in finance but haven`t been able to think of another career I could get into, that doesn`t take 10 years to make a decent wage. My friend told me Investors Group is putting him through school in Sept, to become a financial advisor with them. So I guess I was wondering if anyone in here does this type of work and if you like it? Good wages/commission? Does it fit well with being a real estate investor as well? Just looking for some general information from people who are doing it now, and didn`t know where else to ask. Any feedback is appreciated! Thanks alot!
Here are some other lines of work that would compliment your interest in real estate investing:
- You can become a REALTOR
- You can become a Mortgage Broker (since you`re good with math)
- You can become an Appraissor
- You can become a building inspector (since you`re already in the business you`ll be able to quickly spot problems or poor workmanship)
Whatever you decide to do, make sure you become the best that you can be.
Believe in what you do, your passion will drive you.
Build a reputation for yourself and the business will come.
If you`re a people person then any of the above (or combination) could work for you.
Good luck!
Alan
Here are some other lines of work that would compliment your interest in real estate investing:
- You can become a REALTOR
- You can become a Mortgage Broker (since you`re good with math)
- You can become an Appraissor
- You can become a building inspector (since you`re already in the business you`ll be able to quickly spot problems or poor workmanship)
Whatever you decide to do, make sure you become the best that you can be.
Believe in what you do, your passion will drive you.
Build a reputation for yourself and the business will come.
If you`re a people person then any of the above (or combination) could work for you.
Good luck!
Alan
- Joined
- Oct 24, 2007
- Messages
- 2,289
QUOTE (cailmoney @ Aug 11 2010, 05:12 PM) I`ve been working construction for the past couple of years saving money for my first real estate purchase. I make really good money for my age but I don`t wanna be doing this type of work forever. I`m only 20 and have always been interested in finance but haven`t been able to think of another career I could get into, that doesn`t take 10 years to make a decent wage. My friend told me Investors Group is putting him through school in Sept, to become a financial advisor with them. So I guess I was wondering if anyone in here does this type of work and if you like it? Good wages/commission? Does it fit well with being a real estate investor as well? Just looking for some general information from people who are doing it now, and didn`t know where else to ask. Any feedback is appreciated! Thanks alot!
I have met with the IG salespeople. All they do is push their investment products on prospective clients. They aren`t training you to be a good financial advisor they are training you to sell their bonds and mutual funds. Here are some other things for you to consider:
1. No wealthy client will take you seriously if you don`t have a university education.
2. This is a commission based industry. So you don`t close you don`t get paid. If you`re in construction you get paid per hour of work. It`s a very different compensation structure that you need to be ready for.
3. If you`re only 20 then you have a long way to go to be earning big $... As in probably 10 years working in your feild or building a network before the doors start to open. So you may have to adjust your expecations.
All that being said the fact that you are posting this question and taking your future seriously is a good thing! Make a list of the things you LIKE to do and another list of the things you are REALLY GOOD at. Take that list to some mentors you have within your network... either on this forum or someone that you know through friends and family and get some ideas for different types of careers. You don`t have to figure it all out in a month so don`t rush into anything... but you should start developing some options.
I have met with the IG salespeople. All they do is push their investment products on prospective clients. They aren`t training you to be a good financial advisor they are training you to sell their bonds and mutual funds. Here are some other things for you to consider:
1. No wealthy client will take you seriously if you don`t have a university education.
2. This is a commission based industry. So you don`t close you don`t get paid. If you`re in construction you get paid per hour of work. It`s a very different compensation structure that you need to be ready for.
3. If you`re only 20 then you have a long way to go to be earning big $... As in probably 10 years working in your feild or building a network before the doors start to open. So you may have to adjust your expecations.
All that being said the fact that you are posting this question and taking your future seriously is a good thing! Make a list of the things you LIKE to do and another list of the things you are REALLY GOOD at. Take that list to some mentors you have within your network... either on this forum or someone that you know through friends and family and get some ideas for different types of careers. You don`t have to figure it all out in a month so don`t rush into anything... but you should start developing some options.
- Joined
- Oct 22, 2007
- Messages
- 1,191
QUOTE (cailmoney @ Aug 11 2010, 05:12 PM) I`ve been working construction for the past couple of years saving money for my first real estate purchase. I make really good money for my age but I don`t wanna be doing this type of work forever. I`m only 20 and have always been interested in finance but haven`t been able to think of another career I could get into, that doesn`t take 10 years to make a decent wage. My friend told me Investors Group is putting him through school in Sept, to become a financial advisor with them. So I guess I was wondering if anyone in here does this type of work and if you like it? Good wages/commission? Does it fit well with being a real estate investor as well? Just looking for some general information from people who are doing it now, and didn`t know where else to ask. Any feedback is appreciated! Thanks alot!
Use your current expertise in construction as the basis for your career, unless you hate it and then you will have to start over in a new field. However, understand everything you do has ups and downs.
So build-up expertise in construction and grow towards what interests you most. This may sound cheesy, but it works - make it a goal to learn something new on every project. Always go one step further and over time your expertise will increase.
With greater expertise there will be new opportunitities. Use your brain and analyze them with care but do grab the opportunities. Even when they fail, as a minimum you will learn and the may lead you to better opportunities.
Apart from building expertise in construction and related fields, learn about money management and investing. Do not only study, also invest using your savings. REIN is a great starting point for learning, but also for networking. This will lead to investment opportunities and more learning.
Life is about developing your potential and the money will come. My motto is that you will acquire the wealth you can handle for the greater good (while you of course will be awarded in many ways). Thus you will ultimately reach your Belize and when you reach your Belize, you will dream of a new one and so you will always be on your way towards Belize. It is important that you make sure that you also enjoy the trip.
Use your current expertise in construction as the basis for your career, unless you hate it and then you will have to start over in a new field. However, understand everything you do has ups and downs.
So build-up expertise in construction and grow towards what interests you most. This may sound cheesy, but it works - make it a goal to learn something new on every project. Always go one step further and over time your expertise will increase.
With greater expertise there will be new opportunitities. Use your brain and analyze them with care but do grab the opportunities. Even when they fail, as a minimum you will learn and the may lead you to better opportunities.
Apart from building expertise in construction and related fields, learn about money management and investing. Do not only study, also invest using your savings. REIN is a great starting point for learning, but also for networking. This will lead to investment opportunities and more learning.
Life is about developing your potential and the money will come. My motto is that you will acquire the wealth you can handle for the greater good (while you of course will be awarded in many ways). Thus you will ultimately reach your Belize and when you reach your Belize, you will dream of a new one and so you will always be on your way towards Belize. It is important that you make sure that you also enjoy the trip.
- Joined
- Oct 10, 2007
- Messages
- 4,733
Start your own contracting company