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Is your financial planner still claiming they can pick winners, time the markets and… still believes in Santa Claus too?
You would not be alone in feeling cranky with your financial planner because he or she failed to predict the Global Financial Crisis. The media has fuelled this line of thought, suggesting that ‘doing it yourself’ is a real option.
If your financial planner originally won your custom on the back of a claim that they have a crystal ball, then now’s the time to reassess. They don’t, and certainly you should be interviewing now for a new one who isn’t asking you to believe in Santa Claus.
In spite of the financial planning fraternity’s claims that you don’t have the intelligence and it’s just too involved, frankly ... if I can do it then so can you. Anyone with average intelligence (and enough uninterrupted time) can master the management of their finances -- financial planning and investment. The question isn't 'can they', the question is 'should they'.
You see, there are only 168 hours in a week. If you're 40 then the stats tell us you have about 40 years left. That's right, just 480 months till you are due to check out. Makes you wonder ... what's important in life?
Would you really, truly, honestly get THAT big a feeling of accomplishment and fulfilment from being able to say 'I did it my way' when you glance at your balance sheet? Are you missing the forest for the trees?
In countless interviews with people on the subject of money over the last years, one theme comes up again and again ... it's not the money, it's what it can do for you that is so important.
A feeling of satisfaction and fulfilment comes from certain achievements, no denying that. But compare how these two different scenarios feel:
high-fiving your first born because you delegated the money management, freeing you up to be there to watch your child’s first ever goal at soccer, or …
high-fiving no one in particular because all the late nights in front of the screen paid off: you successfully picked a basket of stocks that beat the market by 1.75%.
What's important in life to you, then? Is it money or is it what money can give you?
Hiring a competent financial advisor is only a decision you should make once he or she has clearly explained what value they can add to your situation.
What’s more, delegating the management of your finances to a trusted advisor will free you up to do the things in life that you can't delegate, like teaching your daughter how to fish, learning how to play the violin, or you and your spouse heading off on a double date with your oldest friends who you haven't seen in far too long.
Contact us and come in for a Discovery Interview and let's talk about money, what it means to you, and what it can do for you if handled properly.
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