Author: Mike Blanton
The main reason you should have a Financial Advisor in your life and on your team is summed up in a word, direction. Knowing where you are and where you are going are the two most important pieces of information you can have in life. The other reason you would want a financial advisor is to get answers to the 4 financial Questions everyone faces:
- Will I run out of money?
- What rate of return is necessary for my success?
- How much do I need to save to get where I am going?
- How long will I have to work to achieve my financial goals?
Over the years many have been conditioned by the financial industry to view products and rate of return as the most important pieces of your financial picture. Neither products nor rate of return will give you direction nor do they truly answer the four questions above. While both are important the most critical piece has nothing to do with products or rate of return, it has to do with the information you receive regarding the direction you are headed. One of the most revealing quotes on financial direction comes from Don Blanton, president and owner of MoneyTrax Inc., “If what you knew about your finances turned out not to be true when would you want to know?” Talking with a financial advisor about your direction will help you answer the 4 Financial Questions everyone faces and prepare you for what comes next.