By: Shelley Seagler
Do most of your friends or colleagues use financial advisors?
Recently, more and more of my friends have expressed concerns over working with a financial advisor. They wonder:
- Are financial advisors really trustworthy?
- Do I have enough money?
- It sounds expensive, how much will it cost?
- Where to begin?
If you were to interview a few financial advisors to find the “one” that is the right fit for you, would you consider asking them about their core beliefs and values?
If you were to ask, do you think any of them would tell you that you alone are accountable for your financial situation?
This is one of Snider Advisors’ key guiding principles, and it really sets us apart in how we can help our clients with their investments.
Everyone needs financial education. We believe you should know how, what, and why your money is being invested the way it is. You may choose to not actually place the trades yourself, but at a minimum, you should identify your financial objectives, understand exactly what is happening in your portfolio, and have confidence your investment approach will help you achieve long-term success.
After years and years of teaching investors, I’ve come to realize that certain types of personalities excel at managing their own assets. If you are analytical, work well with systems, like consistency, or just have genuine interest in investing, you can and should manage your investments. It’s just a matter of getting the proper financial education. I believe almost anyone can manage their own financial investments with a proven system, education, and the desire to do so.
Moreover, nobody will ever care about your own money the way you do.
I’ve also learned that some personality types aren’t as well-suited for self-management. If following the rules isn’t your thing, or if you prefer to gamble with your investments, then managing your own portfolio may not be a wise decision. Additionally, if you tend to get overly emotional about your investments, then you should consider hiring financial advisors. What many investors don’t understand is that “emotions are your worst enemy!” Unfortunately, overcoming fear can become a major roadblock when managing your investments. We all experience fears…
- What if I run out of money?
- What if the value of my investments get cut in half?
- What if I lose all my money?
The best way to avoid the high cost of following your emotions is with a strong financial education, discipline, and following a rule-based system like the Snider Investment Method. Overcoming your fear may not be easy, but consistently following the processes and checklists of a proven income-producing strategy can certainly help.
When considering a financial advisor, you will also want to define your long-term objectives. Why are you building wealth? And does your financial advisor have a proven track record in helping other clients build wealth and achieving similar financial goals?
Too many investors equate their wealth to the number that is at the top of their account statement each month. However, we believe the #1 job of your investment portfolio is to produce a paycheck. The number that really matters is how much income are your assets able to produce each month.
Our recommendation is to learn how to manage your portfolio yourself. You may decide not to, but you should have the knowledge and understanding of what is happening with your portfolio. Having the knowledge will help ensure your hard earned savings is protected.
Do you have any fears about investing? And if so, how would following a consistent system month after month help mitigate those fears?
Lastly, what are your goals when it comes to wealth? When you are ready to retire, will your portfolio be able to support your current lifestyle?
Ready to take the first step?
Signed up to receive updates on our all NEW Snider Advisors Online Course? We will be sharing more information soon. You can sign up for update here:
If you’re interested in learning more about an investment strategy that that will help you create income from your portfolio when you are ready to retire, then click here to ensure you receive our free introductory training when it is released.
P.S. Our next free information session is coming up soon!
We’d love to meet you in person. Please come out and join us. This event and free investor training session will be held on:
Thursday, February 19th from 6:30-8:00pm.