Choosing the Right Retirement Financial Planner Makes All the Difference
Although your hairdresser may be a very nice person, they are probably not the right person to ask when trying to figure out your retirement plan.
And yes, what they say about the wisdom of the crowd works in many cases, and perhaps your hairdresser does have a crowd of clientele filling up her appointment book.
You see, if your hairdresser really knew that much about financial management, perhaps she would be cutting hair anymore, so there's that.
Also when it comes to picking stocks and timing in the market, it's usually the wisdom of the crowd that gets you into trouble.
In other words you should be buying when everyone is selling, and selling when everyone else is buying at the top of the market.
Now then, it is not my intention to call your hairdresser a dingbat, after all she probably runs a successful business, and she's probably smarter than the average human, with some decent emotional IQ to keep all her clientele happy and smiling.
But choosing the right retirement financial planner makes all the difference, and it is best that you seek professional help.
One of the best ways to choose a financial planner is to ask your friends for referral.
In fact, the best financial planners, generally only work on referral, and they do not do a lot of advertising, because quite frankly they don't have to.
And that indeed might tell you something right away.
If you choose the wrong financial planner they are liable to make big commission selling you annuities, or putting you into a questionable real estate partnership deal, or something of that nature.
What you need is a diversified portfolio, and you need to be downside protected.
If we look at the recent global economic crisis and real estate crash United States, we can see exactly why it is you need to have diversity in your portfolio.
This is what a good financial planner specializes in when setting up your retirement account.
Of course, there are less than scrupulous individuals who seek the highest commission for the least amount work, and they will dump all your money into questionable investments, which pay them lots of upfront money for bringing you in.
When asking your friends and family for a financial planner as a referral, make sure they've been with them for over five years or more, and see how they've done through the various business cycles.
Also, it helps to have a financial planner who has seen the boom and bust cycles enough times to know how to protect your assets and wealth.
That's why I like to see a financial planner who has at least 25 years experience.
They may be difficult to find, but there were looking for.
Indeed I hope you will please consider all this and think on it.
And yes, what they say about the wisdom of the crowd works in many cases, and perhaps your hairdresser does have a crowd of clientele filling up her appointment book.
You see, if your hairdresser really knew that much about financial management, perhaps she would be cutting hair anymore, so there's that.
Also when it comes to picking stocks and timing in the market, it's usually the wisdom of the crowd that gets you into trouble.
In other words you should be buying when everyone is selling, and selling when everyone else is buying at the top of the market.
Now then, it is not my intention to call your hairdresser a dingbat, after all she probably runs a successful business, and she's probably smarter than the average human, with some decent emotional IQ to keep all her clientele happy and smiling.
But choosing the right retirement financial planner makes all the difference, and it is best that you seek professional help.
One of the best ways to choose a financial planner is to ask your friends for referral.
In fact, the best financial planners, generally only work on referral, and they do not do a lot of advertising, because quite frankly they don't have to.
And that indeed might tell you something right away.
If you choose the wrong financial planner they are liable to make big commission selling you annuities, or putting you into a questionable real estate partnership deal, or something of that nature.
What you need is a diversified portfolio, and you need to be downside protected.
If we look at the recent global economic crisis and real estate crash United States, we can see exactly why it is you need to have diversity in your portfolio.
This is what a good financial planner specializes in when setting up your retirement account.
Of course, there are less than scrupulous individuals who seek the highest commission for the least amount work, and they will dump all your money into questionable investments, which pay them lots of upfront money for bringing you in.
When asking your friends and family for a financial planner as a referral, make sure they've been with them for over five years or more, and see how they've done through the various business cycles.
Also, it helps to have a financial planner who has seen the boom and bust cycles enough times to know how to protect your assets and wealth.
That's why I like to see a financial planner who has at least 25 years experience.
They may be difficult to find, but there were looking for.
Indeed I hope you will please consider all this and think on it.