| In today's fast-moving world, credit | | | | ask yourself how muchmoney you have and how |
| facilities, credit ratings,and pressures of | | | | complex your financial situation is. |
| bank lending through credit cards, | | | | |
| bringsfinancial know-how very high up the | | | | If you find that your financial situation |
| agenda of importance formost people. That is | | | | isn't all that complex,you might want to |
| why financial advisors are very usefulthings | | | | reconsider talking to a professional |
| to have, since not all of us are equipped to | | | | financialadvisor. |
| deal withmatters concerning finances. The | | | | |
| reality is that our financeshave to be dealt | | | | You wont get advice from a financial |
| with. | | | | professional for free, so youshould avoid |
| | | | consulting one unless necessary. |
| Mind you, sometimes a financial advisor will | | | | |
| be of the | | | | However, timely and correct advice even for a |
| | | | fee can be worth morethan its weight in gold. |
| 'old school', and if you are an | | | | |
| entrepreneurial type, he or shewill go up the | | | | Remember though - Free advice is just that - |
| wall if you put risky schemes to them. | | | | Free. |
| | | | |
| I know, my old financial adviser once told me | | | | In situations that only require you to do a |
| my acceptance ofrisk was so high I was half | | | | little bit of researchon your own, you are |
| way up the Eiger! | | | | probably better off avoiding the |
| | | | financialprofessional. |
| Three life changing events drive the majority | | | | |
| of people to seekprofessional financial | | | | You should instead determine what you need to |
| advice, according to a study done by the | | | | know, research thattopic, and then make an |
| | | | informed decision based on your work andyour |
| Certified Financial Planner Board of | | | | financial needs. |
| standards - | | | | |
| | | | Alternatively, if you are in a serious |
| Namely: | | | | financial quagmire, gettingprofessional |
| | | | advice might be the best thing you can do to |
| 1) Handling an inheritance (72%); | | | | get backon track. You will find it a |
| | | | liberating experience to finallyunderstand |
| 2) Facing a complex investment product (61%); | | | | all this financial jargon. And it could then |
| and | | | | help youto better understand and handle your |
| | | | finances. |
| 3) Making portfolio/401(k) investment choices | | | | |
| (52%). Amazingly manypeople do actually seek | | | | As Benjamin Franklin once put it: If a man |
| professional financial advice, as they | | | | empties his purse intohis head, no one can |
| haverealized how much easier it becomes to | | | | take it from him. An investment in |
| handle financial issues. | | | | knowledgealways pays the highest return. |
| | | | |
| Before seeking professional help, you should | | | | Article written by Geoff Morris. |