Thursday, April 8, 2010

The Right Time to Hire Financial Planner

If trouble is coming and you knew it, you will fix the problem or get out of the way. With your finances, it is best to assume that there is trouble ahead and to go for assistance which will help to avoid trouble.

If you wait till you have trouble before seeking help, the process becomes much harder to do properly. There is a big difference between ‘waiting too long’ and having real trouble.

No one ever get to retirement age and say, “I cannot quit now because I missed a day or week or month in the market.” Many people rushed into bad financial planner relationships and arrived at retirement age years later to wonder where their money had gone.

Some people learn how to manage money and buy financial products on their own. But this is the case of where you need to “go strong or don’t go at all.” People cannot get away without financial help forever; they are just putting it off to a point where their own shortcomings become such a problem that you cannot overlook them anymore. The problem for most people is that, by the time they reach that point, they have already damage their finances and have probably done a lot more damage than they could have been done by a mediocre planner with complete training.

Just because you can do these things yourself does not mean you should. So if you need someone to fix your financial plumbing or to put a new engine into your investment portfolio to improve it, take control of the process by finding the right person for the job.

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