Let us first ask ourselves, why do we need a plumber, an electrician,
a mechanic, a maid or a doctor?
Of course the answer will be to help us with things or to
solve our problems.
When it comes to handling your hard earned money don’t you
think that requires some expertise too?
People treat themselves with the best of the things but when
it comes to treating your money with the best; do you really have to
compromise?
Everyone needs a financial advisor. Be it rich or middle
class.
Doesn’t matter how much you are earning, you always have to
take care of your money the same way you take care of yourself. Imagine
yourself in a situation, where you are asked to choose between Investing and 1
lakh rupees. With no doubt you have to choose investing, because when you learn
the art of investing, you realize the importance of compounding. YES!!!
COMPOUND INTEREST-the most avoided topic of our school days!
How do you learn and understand the importance of investing?
Answer-your Adviser tells you!
I will give you 5 good reasons which I am sure at the end of
this article you will agree.
1) We all want to retire one day. Every one of us wants to
rest in a great recliner with a beach view home, with light music on and a
glass of drink in our hand. Well all these things won’t come free. You will
have to invest in your younger years so that you can relax in your old age.
What your advisor will do is he will plan a realistic
retirement goal for you, let’s say, when you should retire, what should be your
current savings, what type of income will you be living on and there are tons
of other things! Trust me you will need an expert in finalizing all sorts of
stuff because there is lot to think because you won’t be working anymore and
all the money will be passive.
2) Day to day management of your money is quite important
not for future but for present too. It is not a middle class thing but a smart
way to note your expenses and unreal necessities. What is the value of a 30k
worth wallet if it completely empties your one month salary?
Financial adviser will make sure you stick to your expenses
and never lose sight of your budget. Budgeting is one of the key element when
it comes to financial planning.
3) Warren Buffett quoted, “Never put all your eggs in the
same basket”. True!
Portfolio diversification is often neglected by amateur investors.
The biggest mistake they do is either put their money at stake entirely or keep
it in FD.You have to learn various ways of increasing your wealth. Wealth
creation is much better than fixed income as the value you receive at the end
of the year will be much higher than you expected. Shocking but true!
4) You cannot always know it all. There are hundreds of
crises or news going on in a day and you cannot always find time to cover each
and every aspect of the news and the outcomes it brings. A financial adviser
does that for you by easing your work.
5) the most important work an adviser can complete is turn
your dreams into reality. Everything today comes with a price and hence every
penny in that aspect matters. If it’s the place you want to go, if it’s the restaurant
you have been wishing to visit or a dress you want to purchase, everything will
cost you money no matter how big or small your wishes are. A financial adviser
is therefore not a need but a requirement for you to live and enjoy the life
you wish.
It’s your money at the end of the day. Treat it!!!
BY ALISHA DAS
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