Edward Jones is a financial consultant organization in Yucaipa.
“As far as my business is concerned, I help people with all long term business savings goals,” said David Fricke, financial advisor. “If a person has a financial goal they want to meet, that’s something I can help them achieve.”
Fricke and everyone at Edward Jones are financial planning extraordinaires. Their most popular work in Yucaipa is helping individuals and couples save for children and grandchildren college funds, along with preparing for and living in retirement.
“You cannot overstate the importance of preparation for retirement. When you’re working you can control how much you spend and save. After retirement, you can only control how much you spend. If you don’t prepare, you will have a tough time, people should plan 15 years ahead of retirement. If you don’t have those goals in time you will likely not be able to fund your retirement and I have the tools to prepare people for that,” said Fricke.
He uses a five step process to assess and evaluate his clients’ financial well-being.
“The first step is to look where they are at today, financially. Second step is to see where they’d like to be, third step is determining if they’re going to make that goal, fourth is what they need to change and step number five is keeping them on track,” Fricke said.
Fricke requires that his clients meet with him at least once a year. But, he advises meeting two to three times per year.
“The two biggest tips I can give is making sure you have a budget, it’s vital for anyone with a financial goal, set up a budget and have an emergency fund. If you start with even $1,000, try to have three to six months of monthly income saved up. Number two, don’t cary credit card debt,” said Fricke.
He shared that elderly people are the biggest target to fraud.
“Elderly people are most susceptible to it. We live in a digital age, they don’t fully understand the dangers of what that means,” said Fricke. “There are all sort of scams, if a request comes from email, it is fraud. The IRS will never call you, understand that it’s fraud right away.”
“Be cautious of phishing scams. Phishing scams are where a person will call in and say you’ve won a lottery and you need to pay the tax on it; I can’t tell you how many seniors I’ve seen get ripped off by that,” said Fricke.
He also said that scam artists will look at your social media (if you have any) and pretend to be a relative or grandchild, use one of their photos, pretend an incident occurred and ask for money.
“Meeting a financial goal is not necessarily how much money you make. It takes careful planning and discipline to meet a goal. Don’t think that your goals are so big that they cannot be achieved. You just need a plan to meet those goals, which is where I come in,” concluded Fricke.
Fricke meets with clients on an appointment basis.
For more information, call 790-2135.
Edward Jones is located at 33733 Yucaipa Blvd., Suite 8.