It’s no wonder there are so many coaches in America today: fitness coaches, nutritional coaches, business coaches, etc. Our lives are hectic! There are more things to juggle in our every-day lives than ever before. It’s more and more difficult to stay on top of KNOWING what’s best for us, let alone putting that into practice. There are many areas in which I want someone knowledgeable and trustworthy to simply tell me what to do!
A Financial Planner is like a doctor and a personal trainer. A doctor will diagnose and prescribe in order to help you be healthy. A personal trainer will craft a custom-tailored regimen for you and help motivate you and push you to stay on track. Our financial health is extremely important, but not something many of us pay attention to. In fact, more Americans track their weight than their credit card balances!
Some people CAN excel without a coach, and that is fantastic! In my experience working with thousands of clients, I’ve discovered four reasons why you WOULDN’T need a financial planner.
1. You can make educated decisions
With the advent of the internet, we have boundless information at our fingertips. This allows us to answer many questions we have with a simple query. Unfortunately, there is such a thing as TOO much information. The ability to research and make an informed and educated decision isn’t as easy as it sounds, but if you are able to do your own (good) research and trust that process, you might be able to navigate some of the financial storms out there independently.
2. You have the time
Whether it’s balancing portfolios, researching optimal debt paydown strategies, or simply implementing financial decisions, these all take time. Most people hire a coach simply because they don’t have the time to figure out what to do. The financial landscape is also constantly changing, as evidenced by the new tax law. In order to have a healthy grasp of your finances and be able to manage them, you have to spend time.
3. You have the discipline
It’s been a decade since the 2007-2009 recession, so many of us either were not impacted or do not remember it at all. I was working in the industry at the time, and MANY people were convinced they needed to get out of the market completely. Those who didn’t stay the course and went to cash, missed the rebound. This left many wondering, when to get back IN the market, without feeling like they were buying at a high point? This emotional cycle is difficult to navigate. Having the discipline to stay the course or adjust, without abandoning ship, is incredibly important. If you can do this, and keep your emotions in check, you are on your way to being able to manage your finances!
4. You have the desire
There are many things I know I should do, but don’t want to do. This includes exercising, not eating pizza every day, and flossing. This is just a snippet of a lengthy list! The truth is, many of us don’t WANT to manage our finances. It’s a chore we put off indefinitely, but we ultimately suffer for it. Some people naturally have the desire to manage their finances. Maybe it’s because they love spreadsheets or maximizing credit card points! The truth is, if you’re exciting about managing finances, you’re well ahead of the pack. If you can add to your desire the above three reasons, you can probably do a pretty good job without a financial planner and be ahead of the curve.
THE TRUTH IS, I’ve seen countless clients be extremely successful at managing their finances and investments independently. I’ve also seen countless people THINK they can, and fail. Using my experience and training, I want to help you identify which side you fall on. If we can’t identify our need for help, we might not get that help in time! If you’ve read through this list, and realize you DO NEED a financial coach, please don’t hesitate to reach out to me HERE!