Personal Training for your Finances

All of us lead busy lives. Hiring a financial advisor could make us less stressed about our finances, help us generate more wealth, and help us achieve our goals.

A great wealth advisor may end up costing you far less in the long run than no advisor at all.Not all advisors are the same, but if you do find a great one, it’s important to consider the overall benefits they can provide when thinking of costs.

Hiring a financial advisor depends on your particular goals and needs. Hiring a financial advisor could free up your valuable time, reduce stress levels, and potentially help you gain or save significant sums of money. Hiring an expert to increase performance and efficiency is not exclusive to finance. Think of a financial advisor as a personal trainer. In the gym, your trainer bears the burden of planning; you state your goals, and the trainer takes them into account and comes back to you with a plan to achieve them. When you are struggling with understanding an exercise, they are there for you. In the same way, if you are struggling to stay accountable to your goals, your trainer is there to keep you on track.

An advisor can help educate you, help you gain access to a wide range of investments, provide discipline, monitor your progress, and keep you accountable for your goals and actions. Just like a personal trainer can help you kick-start your results in the gym, the right advisor can help you build and grow your wealth.

The benefits of hiring a financial advisor are intangible. For example, peace of mind is impossible to quantify; its value can even extend way beyond the monetary return on an investment. How much do you value financial freedom? Value of not worrying about whether you are spending enough time on your portfolio? How much is that worth?

While it may seem that handling your finances on your own is a cheap option, that is only partially true, and often only in the short run. Without guidance, you might be leaving money on the table. That could be in the form of higher returns on investment or savings through tax strategies, etc. You may be paying fees today, but you will most likely be paying much more in lost income in the future.

It's not just that financial advisors can help you "beat the market." They also help you save money through cost-effective and tax-saving strategies.

Personal wealth planning also takes a significant amount of time. If you choose to ignore expert advice, you may spend countless hours researching and implementing it. Unfortunately, unless you are a retired institutional investor, these hours may be squandered. Creating a well-thought-out financial plan and putting it into action with the correct products is not as simple as it sounds. Consider the task of painting a house. You may spend some time learning how to do it yourself, familiarising yourself with the processes, and purchasing the appropriate equipment. On top of that, there's the massive time commitment to painting it. What other, more valuable, activities are being sacrificed as a result? Financial advisors have a comparable time value. A great advisor becomes your household CFO, allowing you to focus on what brought you success in the first place while also freeing up time to spend with loved ones.