Financial Advisor or Investment Junkie?

Financial Advisor or Investment Junkie?

When talking to many of my new clients, one of their biggest hesitations to work with me is that they already have a “Financial Advisor.”  However, after really talking to them and going over their situation with them, they realize they don’t have a financial advisor they have a ‘Investment Junkie’.  The only thing their advisor is helping them with is investing in the stock market and mutual funds.  They use the one size fits all approach.  This should be criminal! Everyone has different needs and a different situation.  Plus, while yes, investing is an important piece of the puzzle, financial advising is so much more than this!

“[Financial advising is]helping people learn how to spend, save, invest, insure,
and plan wisely for the future, to achieve financial independence.”
-Loren Dutton

  1. 1.  Your advisor should teach you about your spending and saving! You both need to be aware of your spending habits so together, you can craft a plan that is best suited for you.  They should be able to help you find money that you are spending, needlessly.

    Additionally, they should help you put money away for savings.  An emergency fund is an important piece of being financially secure.

  2. Your advisor should invest for the future! Your advisor should help you reach your retirement goals. No one wants to be forced to work their entire lives.  Investing is one of the best ways to make your retirement dreams come true.

    They should be helping you put money away for your future.  Please make sure, they are really talking to you and investing in the right places.  They should not be using the ‘one size fits all’ method, but rather what is best for you in your unique situation and risk tolerance.

  1. Your advisor should insure you! The world is full of surprises, no one is guaranteed tomorrow.  Insurance is an important piece of your financial puzzle.  You should have both life and disability insurance to guarantee you and your family’s financial security.
  2. Your advisor should help you plan! The first thing any advisor should do when they sit down with you is get a picture-perfect image of where you are right now and what your goals are for the future. How can your advisor guide you if they don’t know what you have or what your goals are?

Contact my office today for your free, no-obligation review!


Make Planning Your Retirement Simple

Make Planning Your Retirement Simple

A lot of people put off retirement planning because they are afraid of how complicated it can get. However, if you address these four questions below you will have the essentials of your plan.

  1. How much income will I need?

Experts say that you need about 80 percent of your pre-retirement income to live on. Don’t assume that your financial needs in retirement will be considerably less than what you need to live on during pre-retirement. Even if your mortgage is paid off, it is likely your medical expenses will increase. On the other hand, your other expenses such as utilities, taxes, food, and clothing, will probably not change much from what they are now. Basically, you will need most of the finances you have now in order to live a healthy and relaxing retirement.  There is no 1 rule that fits everyone.  It depends on the lifestyle you want to live in retirement, and what activities you would like to do.

  1. Where will my finances come from after I retire?

Investing for retirement will help provide you with much of the income you’ll need when you retire. Some people choose annuities, others play the stock market, etc…  However you choose to invest your finances, the sooner you do, the better. The size of your retirement fund will depend on your investment decisions. The more you are able to earn on your investments during your working years, the more money you will have when you retire.

  1. How can I contribute money to my retirement plan?

A “Pay Yourself First Plan” is always recommended. Most people pay their bills first and then try and save a little money, at the end of each month. If you pay yourself first by putting aside money safely for yourself, before you pay the bills, there is no risk of spending the money later. The sooner you begin saving, the better. Don’t waste precious time. It can never be recovered. Ask your financial advisor about the “cost of waiting”.

  1. Which investments offer the best chance for satisfactory investment growth without excessive risk?

To create a retirement fund that will meet your retirement needs, some risks must be taken. If you invest all your money in a “safe” money market fund earning 4 percent or 5 percent annually, you’ll never have enough to retire on. Learn how to invest wisely by speaking with your financial advisor. They will help you place your money correctly so that it generates the best return for your specific needs.

Call today and let me work with you to create the plan that will accomplish all of your goals so you can have the financial freedom to enjoy the retirement of your dreams.




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