| More and more people are now clamouring aboard | | | | referrals. Interview them - instead of the other way |
| the former trails emblazoned by the seasoned | | | | around. |
| investors. Money advice, tips and strategies abound. | | | | 3. Ask whether they have any affiliations with the |
| Get rich. Save for your retirement. Make a million to | | | | investments they are recommending. Ask them about |
| retire on. Pay off your home in only 5 or 8 years. | | | | their fee structures. Do they receive commissions? |
| Financial freedom. Live your own lifestyle. Buy a boat | | | | And if so who? |
| and sail the Pacific. Fantasies come true. | | | | 4. Ask about their investment methods? Is your money |
| We all know by now that everyone should become | | | | readily available to you at any time (it should be) or are |
| investors. Robert Kiyosaki, John Burley, Ric Edelman | | | | there any restrictions? |
| and Paul Clitheroe are household names due to the | | | | 5. Look for someone who is a true professional. Look |
| plethora of financial expertise now required to fill the | | | | at their offices, their staff, the receptionist. An honest |
| magazine sections of printed and electronic media. | | | | professional would never disparage others in their field. |
| But where do you start and what is stopping you from | | | | 6. Do not sign any contracts for at least 30 days. |
| taking the first step? | | | | Never give them any authority over your funds. You |
| For the first-timers, I would say it is probably fear. Fear | | | | should always be in control. |
| of the unknown. Fear of risking all your worldly goods | | | | 7. Do you understand what they tell you? A good |
| and chattels. Fear of recurring bear markets and | | | | planner will talk to you at your level of financial |
| declining assets. Fear of trusting your own limited | | | | understanding - or be willing to interpret anything you |
| financial knowledge. And probably more commonly, | | | | don't understand without making you feel like an idiot. |
| fear of putting your money into some stranger's care. | | | | All of this should be done BEFORE you start investing. |
| The most common question I am asked is: how do I | | | | Never be afraid to walk away from someone who |
| find a good financial adviser? | | | | you don't trust. Also, you should keep abreast of |
| How do you know if you are getting good advice from | | | | financial matters as much as you can. |
| your Financial Planner? Here are a few tips: | | | | Personal investor magazines are good, practical |
| 1. A good planner will take the time to find out about | | | | magazines that are easy to understand and keep the |
| YOU first. Always ensure that he or she starts with | | | | reader well-informed. If, on the other hand, you have |
| defining your risk profile, your financial and lifestyle | | | | large amounts to invest, you can try a stock-broking |
| goals and calculates an investment mix portfolio FIRST | | | | firm. Choose a well-established, reputable firm in your |
| before they begin to recommend any products. | | | | capital city and speak to them, using the same rules as |
| 2. The right planner for you should be one YOU feel | | | | described above. |
| comfortable with. Shop around if necessary. Ask for | | | | |