Thursday, March 25, 2010

You Need Financial Help. Now What?

Finances and money are not like food, where failure to follow a recipe or using bad ingredients can leave a bad taste in your mouth. You can throw away a lousy dish and forget about it by the time your next meal arrives, but bad financial mistakes will be with you for years, and possibly for the rest of your life.

Go back to basic need for help. People want things running right, safe and protected, so that everyday life is without worries on either a messy problem or a personal catastrophe. You cannot expect an auto mechanic to change your car from a Japanese car into a Porsche or Lamborghini, you expect them to help you keep the car running properly so that you can reach your destination and make the journey to wherever you want to go.

That is what financial planner does; help you to make the journey from where you are to where you want to go. Over a lifetime, you will need to manage investments, amass university and retirement savings, work out and secure loans, buy or sell property, insure your home and other possessions, protect your home and family from catastrophic losses, having a plan to pass your life’s work to your beneficiaries.

So say hello to a financial planner.

What people want from a financial planner is “emotional discipline”, the ability to put together a sensible plan and stick with it through thick and thin. Financial planner does not just determine the strategy or pick the investments, financial planner provides the hand-holding necessary to see the plan through tough economic and market times.

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