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