Do I Really Need A Financial Advisor? When To Hire A Financial Advisor

If you’re thinking about working with a financial advisor, make sure you watch this video.

Someone asked me the other day do you think i really need to work with a financial advisor so then i told him the warren buffett quote never ask a barber if you need a haircut right but honestly i let him know that at streamline financial we’re so not salesy and we’re not desperate to work with new clients and actually we don’t work with anyone where the value

That we provide isn’t more than the cost of working together so i wanted to share a few reasons when it could be a good idea to work with a financial advisor and by the way if you end up not wanting to work with a financial advisor check out the diy retirement plan in the description below so on to the first reason why you might want to work with a financial

Advisor you get to a certain level of assets and you’ve been saving and you realize that a mistake that you make now can mean a lot of dollars a big mistake now is one that you probably don’t want to afford or try to afford something to be aware of is that every financial decision there’s a park financial decision and then part emotional decision as and as you

Get closer to that retirement date the emotional side of decisions gets stronger and stronger and i talked to people frequently who decided to move a big portion of their savings and investments into cash because they felt like it was the right thing to do but 10 years prior they wouldn’t have made that decision but now because they’re getting so close to this

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Date where they have to start using the money they want to make it more secure or they feel like it might be more secure to be in cash but there’s better ways to make your nest egg secure and your income secure and it’s not by buying insurance or annuity products and in this example what they don’t realize is that cash could actually be the worst investment when

You factor in inflation and things getting more expensive a million dollars in cash can be worth 250 000 less just 10 years from now so finding a good financial advisor can help you lessen those chances of making the wrong financial decision or possibly relying too much on the emotional side of things and actually this reminds me of a picture by carl richards

Of you and your advisor and this is the big mistake right we want that person to help be that counsel to help block us from making any things that we’re just not making any decisions we’re not thinking all the way through then on to another reason to work with an advisor is that you’re not exactly certain how to prepare for the four economic seasons that we might

Face over the next 10 years you might be searching for answers or reading and watching youtube videos or asking friends and family and then you’re gonna realize that there’s so many opinions out there and many of them are conflicting advice and this results usually in analysis paralysis we’ve seen it a lot in the people that that we’re talking to and it stops you

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From making the next step or the necessary steps to really improve your financial life another reason that people work with advisors is if you don’t enjoy the financial and the investment world if you don’t want to spend your time learning and reading and studying and making decisions by yourself and then wondering if it’s the best decision rather you want to

Live a life that you are enjoying and it’s exciting and it’s fun and fulfilling and you don’t have to worry about the money piece as much of course you’re still aware and you’re confident in it but you’re just not in the day-to-day managing it every day and becoming an expert in the financial world isn’t on your bucket list you want to do the things that you do

Best and then you can hire for the rest sometimes we imagine it like you’re going on a mountain trail hike one that you’ve never been on called the retirement trail and you can do it solo or you can hire a guide who’s done it hundreds of times with others who are just like you and when you get to that river that’s blocking the trail the guide knows exactly what

Stones to step on that aren’t wobbly and aren’t slippery so that you can get across safely and then when you get to the rock wall the guide’s got those tools in his backpack where he can make the climb much easier for you anyways if you end up interviewing advisors they should be able to clearly communicate the value that they offer when you’re working with them

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Or if you’re going to work with them at the end of the first meeting with new people that i talk to we usually have a good idea on whether the value that we provide is going to outweigh the cost of working together so that there’s no question on whether it’s worth it or not if you’re interested in having an introductory call please use the link below to find a

Time to see if there’s spots open to talk and if this was helpful for you please give it a like and a subscribe and then i’ll see you in the next video take care

Transcribed from video
Do I Really Need A Financial Advisor? When To Hire A Financial Advisor By Streamline Financial