A few days later, I discovered my advisor called the agent and told him to leave me alone and to allow me my space to grieve and to take care of my kids.
He told me to put the insurance paperwork away and, when the time was right, we could go over my options together when I was ready. He took the time to help me, with no financial benefit for him.
To be sure, your relationship with an advisor can bring valuable insight that can go beyond money issues.
But when it comes to money and reaching your financial goals, it’s a comfortable feeling having a trusted financial professional by your side. Because let’s be honest: creating a personal financial game plan can be daunting.
There are so many investment options, all of which carry some form of risk. And, of course, there are many types of retirement plans to choose from, each with their own set of tax consequences.
The seemingly endless number of choices can make it overwhelming for many investors.
The bottom line is that there’s an overload of investment possibilities. And, for many, planning and managing those options can be complicated. That’s why it makes sense to turn to a financial professional for guidance.
Of course, for some, do-it-yourself investing holds significant appeal. Many of these investors are perfectly capable of self-managing their own portfolios. However, other investors feel they need to hire a financial expert to create a game plan to meet their specific financial and life goals.
Basically, financial planning is the process of aligning your financial resources with your most important goals in life. Everyone needs at least a basic plan regardless of their net worth situation or their stage of life.