I have a Series 7 & 63 and am looking to take Level 1 in December - am I crazy? I don’t wish to get the CFP as I don’t want to start a book of business from scratch. I work for a Financial Services firm in Denver, CO but am looking to move to the Wilmington, DE /Philadelphia area in about 2 years to be closer to family.
just do it
Getting your CFA is like taking out a nice expensive escort. You put some time and money into, than boom, STDs. In short, CFA = shriveled up dick
I’ve actually lost my dick to the CFA. In all seriousness, do it if your willing to put in 750+ hours of studying (at the very least if you pass 3/3) for purely educational purposes. If there is any career benefit, just take that as an unintended plus.
PhillyBanker Wrote: ------------------------------------------------------- > In all seriousness, do it if your willing to put > in 750+ hours of studying (at the very least if > you pass 3/3) for purely educational purposes. If > there is any career benefit, just take that as an > unintended plus. I couldn’t have said it better for myself.
If you’re already in financial services, it can’t hurt, and you may make fewer mistakes in investing after thinking through the curriculum. If you are away from family, then you probably have more time to study. At 40, the time away from family obligations is often the largest opportunity cost. You’ll be more confident about this stuff when you’re done, too.
Sign up for December 2011.
No, spend that 150+ hour preparing level 1 looking for jobs closer to your family. CFA wont help you move.
I know a guy in his late 60’s who is a mega earner / top wholesaler for a big shop. To this day, he still wishes he did the CFA. He thinks he would be ahead a lot more. Do you want to be saying those words 20 years from now?
Throw 40 or 50 hours at L1. If you pass or are a band 10 fail, continue on with the program. If you fail miserably, consider yourself lucky for having wasted only 40-50 hours or your life and move on to other things.
i know someone who went to med school at 40… so from that perspective dont let age stop you from doing something you want to do… from a career perspective i am fresh out of university so cant help…
I appreciate all of your comments and words of encouragement. I’m gonna give it a shot. Best of luck to all of you as well.
i would be careful following the 50hr advice While i am sure someone has done it It seems like 90% of 1st time passers pay their 300 hr dues Level one is not the mcat. But at the same time its not the psat
ahmadmadoff Wrote: ------------------------------------------------------- > i would be careful following the 50hr advice > > While i am sure someone has done it > It seems like 90% of 1st time passers pay their > 300 hr dues > > Level one is not the mcat. But at the same time > its not the psat Probability of passing with only 50 hours of preparation is low, but that’s my point. Starting CFA @ 40 is probably only worth it if you can knock it out with relative ease.
I plan on about 250 - 300 hrs. 50 hours - are you kidding me?
Yeah, about 250 hours is the right choice. If you can pass L1 with that much studying, it will be an indication that you’ll probably be able to finish the exams and get your charter within 3-5 years. The exams only get harder to pass as you go from L1 to L2 to L3. If you can’t pass level 1 with 250 hours of studying, then it’s going to take you so much work and so many years to pass the three levels that it’s not going to be worthwhile.
I have read recently about someone who studied law when 40, at 43 became globally famous at a related to law affair, and is generally referred to by journalists as a “young brave woman”.
I’m afraid I had to put down something close to 333 hours for Level I. I’m not globally famous yet. Suggest you (rodog) consider following one of these online study programs this fall, that worked for me at least, studying on my own didn’t work out at all in my case; I’m among the older ones here, and have noticed I don’t catch up on new stuff as easily as I did when I was 18, and fell behind schedule on my first attempt so I had to give it up and make another attempt the following year.