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Why Do I Need an Advisor?
Water Cooler Advice vs. A Financial Planner... No contest
by Chris Parry (Write for us!)
(Click on the links within the article to get definition of that word)
These days it seems like just about everyone is an expert on something. Working in
an office, you are bound to
hear advice for just about anything ranging from raising an ant farm to zebra rug cleaning. As of late it seems,
almost everyone has an opinion about your finances. Fortunately most of this advice comes in the way of "hindsight
is 20/20" comments. It doesn't take a genius to say that an easy fortune could have been made if you had had the
foresight to buy Wal-Mart's stock umpteen years ago. Once in a while you will also probably get some armchair Wall
Street analyst who claims that he will let you in on the greatest financialsecrets of the modern era. Now whether
you are advised to pick up a goose that lays golden eggs or told to invest in the Iraq Dinar, your next step should
be to "listen" closely and forget quickly. Your future is better off left in the hands of a professional.
A financial planner is basically a professional who offers consulting services to individuals based on their short
and long term financial needs. Their most valuable service is providing investment, budgeting and future
planning advice for you and your family. The whole goal of a financial planner is to increase and maximize
a person's networth by making sure that their assets are allocated in a variety of areas. Other services
provided
include retirement planning. Often times retirement planning can seem like a daunting task. Under the tutelage of a
planner though, it can be smooth sailing as you plan exactly where you want to be at retirement, and then
create a plan that can make it possible. A financial planner typically takes into account your current situation
and whether or not you are at a point where a certain level of risk is acceptable or whether you need a slow but
steady growth plan. A planner will help to establish realistic goals that don't require major life changes... unless,
of course, that is what you are looking for. Most planners today recommend a diverse portfolio. The long-term retirement
plan should include investments on several different fronts.
Advice can be found everywhere you turn, but for those interested in a stable financial future, the advice
provided by a financial planner can be a good and safe bet.