Myths about Financial Planners

Myths about Financial Planners

May 05, 2021

MythBusters does a great job of disproving some common myths. In fact, when I discovered that bubble gum doesn’t actually stay in your system for 7 years, I was shocked! Besides gum, I also thought that I needed to wait an hour to swim after I ate. It never occurred to me to question why they sell food at the concession stands. Do giant pretzels and hot dogs not qualify as cramp-causing food? I’ve also learned that you don’t have to pee on yourself if you get stung by a jelly fish, and you do not have to wait 24 hours to report a missing person. Have you ever believed a myth that turned out to not be true?  Surprisingly, there are even myths about Financial Advisors, And we’re here to debunk them!

One myth that has never made it to tv’s MythBusters is that Financial Planners only work with people who are already millionaires. If you’ve ever thought that you couldn’t benefit from a Financial Advisor, because you don’t own a yacht you are probably among the majority. Unfortunately, our financial lives can be extremely intricate, and one bad decision could haunt you for a long time. Of course, you can manage your own finances, build your own budget, and educate yourself about the market. However, working with a Financial Planner brings in a fresh set of eyes and an objective opinion whose primary goal is to help you grow your wealth. In fact, the earlier in life that you start working toward your financial goals the more potential you have. You can start planning during whatever stage of life you’re in, regardless of how early or how messy it is. The sooner you start working with a professional, the more equipped you may be to handle life’s hurdles as they come.

Another common misconception is that Financial Planners are expensive. The truth is Financial Planners are professionals and they get paid for their services just like everyone else. While it is important for you to understand your fees, I believe a good Financial Planner should help you to save more than you’ll pay. Vanguard, a large investment company has provided research and note that only ¼ of the population enjoys managing their finances, following the markets, investing, and projecting futures. If you’re in the remaining percentage of the population, it may be time to find a professional advisor and start reaping some of the benefits. Benefits include potentially saving money on taxes and strategically investing.  Financial Planners develop your investment strategy based on education and research, as well as, rebalancing and diversifying your portfolio to pursue peak asset allocation.

Even if you don’t have a million dollars or a fancy boat, you could benefit from working with a financial advisor. While none of the myths about financial planners will leave you peeing on yourself, some can keep you from reaping real benefits. At Agile Wealth Solutions, Stephanie can help you build a comprehensive financial strategy for any stage of life. If you’re serious about reducing debt and moving toward your goals we have solutions. Call today to schedule a complimentary, no obligation consultation, with Stephanie, to see how we can help you! (605)731-9121. We now offer virtual consultations! Use this link to schedule today: Book Now!

 

This is meant for educational purposes only.  It should not be considered investment advice, nor does it constitute a recommendation to take a particular course of action. Please consult with a financial professional regarding your personal situation prior to making any financial related decisions.  Investing involves risk including loss of principal.  (05/21)