Diary of an adviser: Answer your what-if questions with the help of a Financial Planner!
First published 22 April 2013 • Updated 13 March 2018
How many times have you considered seeking financial advice to help sort your finances, and then simply forgotten about it? In our latest ‘Diary of an Adviser‘ blog, Jaskarn Pawar shares how you could be better off by taking action and enlisting the help of a Financial Planner!
I had an e-mail from a client of mine over the weekend who had read an interesting article on investing in funds. He wanted to find out more about it and wanted my opinions on it so he e-mailed it to me. I really enjoy this kind of interaction with my clients because it helps to develop not only his understanding of how I provide advice and how I think, but it also helps my understanding of where he’s coming from.
Apart from the benefit of getting to know each other that little bit better, the other important benefit to come out of this is simply an answer to his question. How often do you read something or hear something that makes you think about your own finances. It may even lead you to go home and talk it over with your partner. But I would bet that it often goes no further than that. It gets left as a ‘what if’ conversation with no follow up action.
I think it would be really helpful if you could get knowledgeable answers to those questions without trying too hard. Even if it’s simple questions such as: “are we invested in the right areas?”, “do I have the best savings account?”, “should I pay off my mortgage?”, “should I pay off the credit card?”, “should we get life insurance?” or “should we save some money for the kids?”.
If you improved your finances bit by bit each time you thought you could, imagine how much better off you would be in a few years time. Making small improvements to your finances on a regular basis and having a professional financial planner to turn to when you have these questions in your mind is invaluable resource.