Let’s use the familiar analogy of physical fitness. Nearly everyone knows, (or at least thinks they know), how to work out: lift weights, run and stretch. Most of us try to maintain some sort of fitness regimen to stay in shape.
Inevitably, the process stalls, prompting us to wonder why we can’t seem to get beyond a certain level of well-being. It’s frustrating because we honestly believe we’re working hard to make significant improvements in our day-to-day lives to enhance our health.
A very similar impasse commonly occurs in the financial planning process. We’d like to think we’re making the best choices to be financially fit, but in reality, we’ve most likely reached a plateau where we have done all we can – but unfortunately it’s not enough. To keep things moving in a positive direction, we need to find someone to be our partner to coach us to make the right decisions at the right time.
An experienced financial planner has seen many of the same client scenarios play out over and over again with similar outcomes. These valuable insights can be used to save significant time and money. Working with a professional planner also reduces much of the speculation about what works and what doesn’t work in a given situation.