| In today's fast-moving world, credit facilities, credit | | | | Before seeking professional help, you should ask |
| ratings, and pressures of bank lending through credit | | | | yourself how much money you have and how |
| cards, brings financial know-how very high up the | | | | complex your financial situation is. |
| agenda of importance for most people. | | | | If you find that your financial situation isn't all that |
| That is why financial advisors are very useful things to | | | | complex, you might want to reconsider talking to a |
| have, since not all of us are equipped to deal with | | | | professional financial advisor. |
| matters concerning finances. The reality is that our | | | | You wont get advice from a financial professional for |
| finances have to be dealt with. | | | | free, so you should avoid consulting one unless |
| Mind you, sometimes a financial advisor will be of the | | | | necessary. |
| 'old school', and if you are an entrepreneurial type, he | | | | However, timely and correct advice even for a fee |
| or she will go up the wall if you put risky schemes to | | | | can be worth more than its weight in gold. |
| them. | | | | Remember though – Free advice is just that |
| I know, my old financial adviser once told me my | | | | – Free. |
| acceptance of risk was so high I was half way up the | | | | In situations that only require you to do a little bit of |
| Eiger! | | | | research on your own, you are probably better off |
| Three life changing events drive the majority of people | | | | avoiding the financial professional. |
| to seek professional financial advice, according to a | | | | You should instead determine what you need to know, |
| study done by the Certified Financial Planner Board of | | | | research that topic, and then make an informed |
| standards – | | | | decision based on your work and your financial needs. |
| Namely: | | | | Alternatively, if you are in a serious financial quagmire, |
| 1) Handling an inheritance (72%); | | | | getting professional advice might be the best thing you |
| 2) Facing a complex investment product (61%); and 3) | | | | can do to get back on track. You will find it a liberating |
| Making portfolio/401(k) investment choices (52%). | | | | experience to finally understand all this financial jargon. |
| Amazingly many people do actually seek professional | | | | And it could then help you to better understand and |
| financial advice, as they have realized how much | | | | handle your finances. |
| easier it becomes to handle financial issues. | | | | |