Getting a Masters

H

hard knock horn

100+ Posts
I'm currently in the process of getting my MBA at Tech ( I had too much fun at UT) and recently the Dean offered everyone the opportunity of getting a Masters in Financial Planning concurrent with the MBA. I have never really thought about financial planning before. This is why I'm turning to the great minds of hornfans for advice/tips or background info on how that added degree would be used.

By the way, the added cost is not out of hand. I also plan on being in Commercial Real Estate upon finishing my MBA which is why I'm having difficulty on deciding whether or not I would use that extra degree.
 
with the way the economy is going you can stick you head in the sand and go back to school until things get better
 
"Get your Masters while you're young - the sky will be the limit"


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I really don't see the benefit of adding it. If there's little cost/time to tacking it on, then maybe. Financial Planning as I know it is spending 80 hours/week cold calling 100's of people a week to try and get them to invest with you for the first 2-3 years. After that, it's pretty much a gravy train with biscuit wheels as long as you did your job right.

The need for FP's is going to be strong over the next 20 years as the Boomers start retiring on a large scale. So it could be good gig for the long haul, but it's that first 2 - 3 years that is a total *****.
 
Losthubby worked on getting whatever certifications needed to do this during one of the oil industry downturns years ago. He has never used it but it has come in very handy when I get calls about setting up plans etc. All I have to do is say my husband is already a certified financial planner and the call ends very quickly.
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Can't hurt to get it if you have the time.
 
Might as well get it. If nothing else, having it will offer you more options down the road...whether you take them or not, options are always good, in my opinion.
 
I know the faculty member that started that program and his colleague, the
program director, was a UT faculty member for over 20 years. And both of them
have kids that are UT alums. His email is [email protected]. He'll set a
meeting with current UT grads who are in their grad program. Great guy, he'll answer any questions you might have.
 
A masters in financial planning doesn't mean much in the industry but if you learn enough to take and pass the CFP exam that is worth something.
 
If it's just a little extra time and cost, why the hell not? As mentioned, the economy sucks right now so staying in school a tad longer while things start to improve won't hurt. Likewise, it may just pay for itself in its usefulness to your own financial planning in the future. Think how much brokers take from the average portfolio over its life, if you can handle your own, you'll likely save a bunch of green. It also gives you one more advantage in a competitive job market even if the degree isn't particularly relevant to all employers. It may just be the thing that separates you.
 
Commercial real estate is going in the tank for the foreseeable future, so the best thing you can do right now is keep your options open. There's no downside to getting it as far as I can see.

Bernard
 
Why not pad the resume and open another door potentially at some point in the future. As midtown said the ability to pass the CFP would indeed be a feather in the cap, more than the certification from Tech. If it keeps you from having to job search for another Semester it might actually help you out in the long haul. Graduating into a ****** economy is not always the best long term strategy.

What might be a sweet deal with both Masters is the abilty to perhaps start a company later that combined the two areas of expertise. Probably might be a lot easier to rally investors with your interst in real Estate, MBA and CFP designation (assuming you pass the test). There might be real good opportunities for investors and yourself inReal estates soon depending on where the bottom ends up. Commmercial real Estate hasn't seen the bloodletting much yet, but it's coming.
reviving the corpse will be profitable.
 
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