How many hours a day do you devote to your financial health? If you're like most people whose lives are filled with the demands of a job, a home and a family, the answer is probably not enough. That doesn't mean you're ignoring the importance of earning, saving and investing. It just means you don't have enough free time to 'spend' on making money. The plain fact of the matter is that most of us will take more time to research the best vacation destination or a new car purchase than on making an informed investment decision.
Sure, the Internet has made it easier to invest, especially in mutual funds and equities. But with time at a premium and with so much to know about so many investment possibilities, making informed and timely decisions can be extremely difficult … and potentially very costly. A look back at your investment track record may confirm that if you've been racking up capital losses over the past few years, with little or no capital gains to offset them, maybe it's time to re-think your investment strategy. And if you don't feel you know enough about investing to begin with, it's definitely time for a change.
A financial professional will help you identify and align your financial goals with your life goals. Your advisor will work with you to develop an asset allocation plan that fits your risk/reward profile, enables you to achieve your long-range financial goals, and is tax-efficient. Most importantly, your advisor can provide you with encyclopedic, current knowledge about the investment options available to you, help you make the most informed decisions, oversee your portfolio, provide periodic reviews, and revise your plan as necessary to match prevailing market or economic conditions - always with the view to achieving your goals for the future, as they are today and as they will be tomorrow.
Selecting a financial advisor
You'll want a 'full service' financial planner who can assess every aspect of your financial life - including saving, insurance, investments, taxes, retirement, and estate planning - and help you develop a detailed strategy for meeting all your financial goals. A good way to start your selection process is to ask a friend or relative, or perhaps one of the other professionals in your life -- your accountant or lawyer, for instance - for a recommendation.
When you meet with your financial planning candidate, you'll want:
- To know all about his or her experience, qualifications and professional credentials.
- References from existing clients.
- To clearly understand how your advisor-candidate will work with you to define your financial needs, keep you informed of progress, and with what frequency.
Achieving financial independence starts with recognizing your own limitations. If you're not a contractor, you wouldn't try building your own house - you'd work with a professional. The same holds true for building a strong and sustaining financial plan that is a perfect fit for your life. It pays to work with a professional.
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Kian Ghanei's practice focuses on finding solutions for issues challenging Professionals, Executives and Business Owners. His areas of his expertise are Risk Management, Wealth Management, Corporate and Investment Tax Planning, and Estate Analysis. His team of specialists and his elaborate fact-finding approach allow for an optimal personalized financial plan tailored to his clients needs.
Contact Kian Ghanei at Kian.Ghanei@investorsgroup.com |
