Question by Foamy is God: What is the difference between a CFP and CFA?
Which is better to have watching your back and why?
Best answer:
Answer by top j
cfp means chartered financial planner and cfa means chartered financial analyst, cfa is good and has value equivalent to CA or CPT. and u can get good job with good salary package in good company too. better go for cfa
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Question by Justine C: What’s the difference between a CFP and a PFS?
What is the difference between a Certified Financial Planner and a Personal Financial Specialist? Besides the difference in requirements, which one do people usually go for? The benefits and cons of both? The money difference? Which one has the better job opportunity? Do most finance major go for the CFP? And accounting major go for the PFS? And any other differences? I would really appreciate the help. Thanks.
Best answer:
Answer by jonzoct
The difference between the CFP and PFS is the following:
The CFP designation is issued by the Certified Financial Planners Board and PFS designation is issued by the AICPA. PFSs need to be CPAs –and meet their individual state board of accountancy’s education, exam, experience, and licensing requirements– before they are issued PFS designations, which have their own particular education, training, and exam requirements. CFPs do not need to be CPAs nor are they licensed with any state boards; the designation is issued exclusively by the Certified Financial Planners Board which has its own education, exam, experience, and ethics requirements.
Both designations are difficult to obtain, but in my opinion, the PFS designation holds more weight simply because PFSs education requirements are far more rigorous than CFPs.
Career opportunities abound with both designations; however, the money differences based on designations are negligible because individual salary and income potential is usually dependent on individual ambitions and strategic career planning.
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Question by ▲ßûІІѕ vş ßèāŗѕ▼: What’s the difference between ROTH IRA and Traditional IRA?
Can I take money out of ROTH IRA anytime I want without paying tax?
Best answer:
Answer by Phade3
Yes Roth IRA’s allow withdrawals at anytime up to the total amount that an individual has invested. It also os exempt from any tax or penalty upon wihtdrawal.
If any portion of a Roth IRA is derived from converting from a Traditonal IRA, only the amount that was present before conversion can be withdrawn.
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Question by Gail N: What is the difference between Certified Financial Counselor and Certified Financial Planner? How do I know?
if I need a counselor or a planner?
Best answer:
Answer by S P
google it. Look at the credentials required. Realize you’ll get what you pay for when dealing with counselors of any kind.
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Question by Helen C: What is the difference between a Roth IRA and a self-directed IRA? Can you have both at the same time?
Best answer:
Answer by Jim S
You’re comparing apples and oranges.
A traditional IRA is funded with pre-tax money. You are able to deduct the contribution (up to an annual limit) from your taxable income the year you put it in. When the money comes out, including the money you put in and all the earnings, its all taxed.
A ROTH IRA is funded with after-tax money. When you take the money out, both the principal that you put in AND the earnings come out tax free.
There are a lot of rules about which of these you can contribute to, and the allowed amounts. There are lots of websites that cover this. Google for ‘IRA comparison’, maybe.
That’s the apples to apples comparison.
A self directed IRA is one in which your money is not being managed by an expert for a fee. It could be either of the above. But be careful. Some people use self-directed IRA‘s to make questionable investments. This is your retirement you’re messing with.
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Question by brewbeer212: What is the difference between a Roth IRA/IRA and mutual funds?
Isn’t an IRA or Roth IRA just a bunch of mutual funds or should I go to Investing 101?
Thanks.
Best answer:
Answer by KC
Go to investing 101. It will explain this and a lot more. You need to understand some of these basics so you don’t toss and turn in your sleep worried about your retirement.
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