Could a Financial Advisor Be The Key To A Happier, More Confident Life?

Even with real estate and stock markets surging, over 60% of Americans surveyed recently reported feeling anxious about their finances.[i] That’s no surprise since the pandemic, volatile markets, and rising inflation have all contributed to a much more challenging financial landscape. Fortunately, there is a shortcut to minimizing those worries, and that’s by working with a financial advisor.

With work and family responsibilities, many people do not have the time to study investments or determine the best financial planning strategies to achieve their goals. Instead, they often proceed on autopilot, which usually creates more anxiety and leaves them farther away from their dreams.

Even Michael Jordan Had a Coach

Getting professional help is a smart move, and not just for the stressed. We all benefit from outside financial advising to help us progress toward our goals and avoid expensive mistakes. Michael Jordan used a coach at all times, even at the height of his career. Nothing can replace an outside expert to help keep you get on track and keep you accountable to your own goals.

Financial Advisor Clients Report Increased Happiness and Confidence

Research suggests the benefits go beyond simply building wealth and reducing worry. A survey by Northwestern Mutual found that people who use financial advisors report more happiness, confidence, and stability in their personal and financial lives. [ii]

Weighing the Costs of a Financial Advisor

Although those are not small benefits, there is, of course, a cost to hiring a financial advisor. But what value do you place on actually being able to achieve your goals in life? Of course, money isn’t everything, but most dreams are fueled by money or achieving financial independence. Whether you want to retire early, travel the world, or create generational wealth for your family, consistent financial planning is the key to getting there. Yes, you could save that cost, but at what price?

How to Find the Right Financial Advisor

But there’s an important caveat here: you have to hire the right advisor. Not all financial advisors are created equal. Some are more interested in their results than in helping you achieve your life’s dreams.

Always do your research and interview several financial advisors. Here are some tips for doing it right:

• Check out their background and credentials. Make sure they have proven experience helping people like you achieve their goals.

• Inquire about their approach and philosophy on long-term investing.

• Ask each advisor how often they stay in touch with you and what they do to help you stay on track to achieve your goals.

• Always look up their regulatory record to ensure there are no issues or complaints against the advisor or firm.

Yes, it takes more time to do this research up front. But do it right, and you may find that working with a high-quality financial advisor may be one of the best investments you ever make.

Looking to find a financial advisor dedicated to your best results? Contact us for a complimentary, no-pressure consultation to see if we can help you achieve your goals.

[i] https://www.finra.org/media-center/newsreleases/2021/large-number-americans-reported-financial-anxiety-and-stress-even [ii] https://news.northwesternmutual.com/2019-07-22-92-Of-Americans-Say-Nothing-Makes-Them-Happier-Or-More-Confident-Than-When-Their-Finances-Are-In-Order