There are usually one or two compelling questions that motivate a person to seek financial help. Make sure you are clear about your questions and needs before you make an appointment with a financial professional.

Try this:

1) List all the questions you would like to ask a financial professional.

2) Categorize them in terms of a) importance, and b) complexity. Sometimes really important questions are easy to answer. For example, if you have less than $5,000 and you want to allocate according to your timelines and tolerance for risk, than you might try going to Vanguard’s website to the section on Planning and Education. They have an investor questionnaire that More...helps individual investors allocate assets. It is easy to use and understand. If you contribute to Savings Plus Program through the State of California, you can use the dynamite asset allocation tool created by Ibbotson.

3) Answer the less important and simple questions yourself using credible online free resources offered by companies such as Fidelity Investments, Vanguard Group, Citizens Funds, WSJ, and many more.

4) Some questions are important and complex such as estate or tax planning. These questions are best answered by educated and trained professionals such as attorneys, accountants, and fee only advisors.

5) Be sure to seek answers and solutions to your most important issues. For example, if you have a blended family, with children or others who depend on your income, you may need to purchase life insurance after you prepare a will and before you open an IRA.

Now that you are organized, where do you begin to search for the right professional?

The answer is Ask Around. See you next posting, Laura