Financial Planning Needs A Whole Lot Of Common Sense!
Financial planning is not some arcane religion that you require a lot of schooling and sacrifice to practice! All it needs is a robust measure of common sense.
If you’re a senior, or boomer, you’ve already got a good measure of common sense. The years you’ve spent living and coping with the travails of life have rewarded you with considerable experience. In plain terms, my friend, you’re no bozo that just landed in an alien space vehicle!
Whatever financial assets you possess, you’ve earned and harbored them yourself most of your adult life. If you’re a thousandaire or millionaire, you, yourself, are the best financial planner you could hire.
Oh, you say! I don’t know the first thing about the stock market, certificates of deposit, compounded interest, financial aid or deferred earnings.
Okay! Then learn about them. You’re reading this on your computer right now, use the machine to expand your knowledge. Select a single topic at a time and spend an entire week, one hour each day, looking it up on your computer with all of its side avenues
Do you know what’s going to happen? You’re going to find out this stuff is really interesting. What’s more, you’re going to realize that once you get into it, all of it is easily understandable
None of this is to say that retaining a financial planning consultant is not the way to go. It is! A professional will be up to date on shifts in the markets, internal revenue changes, pending legislation and interest rate trends.
But your homework will get you up to speed and provide you with several powerful advantages.
1. When you interview a potential financial planning consultant, you won’t have to ask him, or her, what on earth they’re talking about.
2. You’ll have a handle on just how much of your assets you can comfortably invest with little risk involved.
3. You’ll understand how much money you will need on an ongoing schedule for recurring debts.
A professional financial planning advisor is definitely a solid plus. But by your taking the time to enlarge your understanding of money matters through research, you will know how to assess each individual’s competence.
There are a lot of sharks and pirates out in the financial world. Lay the groundwork if you are anticipating needing a consultant in the future. Learn what you are going to require of one.
There’s a saying that if it walks like a duck, and quacks like a duck…then it must be a duck! Aside from ducks, it most certainly isn’t true where money is concerned.
You worked hard for your financial assets, learn how to keep them and make them grow. Understand how to make them increase, even if you can’t do the technical work yourself.
Don’t hesitate to demand, and I mean demand, to examine the credentials of anyone purporting to be a financial planning consultant. Take the time to study and investigate references of past clients and degrees.
A farmer once wrote that a good farmer should warm his hands in front of the fire on a frigid winter morning, before he goes into the barn to milk the cows. The cows will then reward him with more milk, and richer cream. A little preparation goes a long way.
A senior, or boomer, who does his homework will realize higher yields from financial planning…and a whole lot more monetary cream!