As an employee, you can’t stay at the same job forever and hope that a miracle will happen and your boss will suddenly give you a raise. You will be lucky that there is no downsizing in your company. Switching to another company will only provide a short term solution to a long term problem. Sure, you can take up a second or even third job, but do you have enough hours and stamina in a day to sustain it? Trading time for money isn’t wise financial sense in the long term. You keep on increasing the hours just to win the rat race, but in the end of the day, you are still a rat on the mill! Increasing your wages only puts you in a higher tax bracket. Your salaries increase but so does your expenses on your house and car. How will you invest in yourself when all the time you spend working for a company, working for the government paying taxes and working for the bank paying off your house and car? What if you fall sick and can’t work tomorrow? Will the government take care of your family?
Handling finances can be difficult and not everyone is talented at plotting out their financial course. For some, handling finances is a real struggle and they will be much better visiting a qualified advisor to give them financial planning advice. If you were to study all the financial and investment opportunities it could take quite some time and a lot of stress to work out what is best for your particular situation. Professional advice from a financial advisor can make a big difference to your future. When choosing a financial advisor you do need to be careful as some may care about nothing other than making money from you and so they will suggest options that will favor them as far as how much commission they will make. You don’t want an advisor that thinks solely about the money in his own pocket, you want one that is going to work for you and your best interests.
If you are considering investing in the stock marketing you need to keep in mind that a financial planner cannot tell you for 100% certainty which stocks are worth buying. The stock market, like many investments, has its risks and can be very unpredictable. When you study the stock market you can learn some trends and can make a good decision based on those trends, but there will never be a 100% guarantee of profit. Most financial planners will get paid by commissions, so when they sell you a product they will earn a commission. This isn’t necessarily a bad thing as most advisors will point you in the right direction, but there are some that are only interested in how much commission they make. Basically you should never jump in and buy the first thing an advisor suggests, but listen to their recommendations, get other opinions and then make the best decision for your own situation.
You should never trust someone giving financial advice unless they themselves live by that same advice. If your financial advisor is not successful at making money themselves with the advice they are giving you, then why would you trust them with your money? Although it is difficult to know if an advisor is making money of his investments or not without getting too personal with him. It is best to view a financial planner as someone to tell you what your options are, rather than someone just to tell you what to do with your money. If you aren’t sure about something then ask them questions, ask as many questions as you need to, after all this is your financial future at stake.
A financial planner should give you all the pros and cons of each investment strategy so that you can then go and make an informed decision as to what path to take. If a financial planner seems like all he is interested in is making a sale, then I would walk away and find another one that is interested in helping you make a choice. When you are making decisions about money and about your future, it is important to do your homework and never just take someone’s word. Don’t just trust anyone; take time to interview financial planners until you find one that you feel comfortable working with. You want one that takes the time to understand your goals and your needs and will help you accordingly. Good financial planning advice can be one of the best investments that you can make.