To make strong financial decisions, it would be ideal for all Americans to have a sound understanding of certain aspects of the financial world. Unfortunately, most lack this understanding (this means we hire professional assistance instead!). So what happens to those who can’t afford help from a professional?
In this short guide, we want to help this audience by discussing whether a financial advisor or financial understanding is more important.
1. Financial Understanding
We’re under no illusion that personal finance takes some effort to learn and understand, but this small investment is undoubtedly worthwhile. To make educated decisions, we need to understand basic principles and the implications of them too. While some learn from articles, videos, and podcasts, others book themselves into full financial courses. With this in mind, it suits people with all budgets.
2. Financial Advisor
On the other hand, there’s an obvious value that comes with a financial advisor. They have the knowledge, and experience to objectively look at financial decisions (whereas we’re more likely to use emotion). Working in this environment daily, they know what makes for good and bad decisions both now and in the long term.
Which is Best?
Well, the most vulnerable are those who are without both. If you have limited resources, we recommend making an advisor your first point of contact. In particular, look for an advisor that helps with finances and acts as a fiduciary (someone who will only ever look after your best interests). If the advisor explains a decision and its implications, you will gradually learn. In the meantime, take advantage of podcasts, videos, and other free resources. By doing this, you get the benefits of an advisor while also improving your knowledge.
If you cannot afford an advisor, make sure you invest time into financial education. These days, there are plenty of free resources online. The more you learn, the better position you’re in to make sound financial decisions.
Contact Information:
Email: [email protected]
Phone: 6232511574
Bio:
I grew up in Dubuque, Iowa, where I learned the concepts of hard work and the value of a dollar. I spent years in Boy Scouts and achieved the honor of Eagle Scout. I graduated from Iowa State University and moved to Chicago and spent a few years managing restaurants. I then started working in financial services and insurance helping families prepare for the high cost of college for their children. After spending years in the insurance industry, I moved to Arizona and started working with Federal Employees offing education and options on their benefits. I became a Financial Advisor / Fiduciary to further help people properly plan for the future. I enjoy cooking and traveling in my free time.
Disclosure:
Investment advisory services are offered through BWM Advisory, LLC (BWM). BWM is registered as an Investment Advisor located in Scottsdale, Arizona, and only conducts business in states where it is properly licensed, notice filed, or is excluded from notice filing requirements. BWM does not accept or take responsibility for acting on time-sensitive instructions sent by email or other electronic means. Content shared or published through this medium is only intended for an audience in the States the Advisor is licensed in. If you are not the intended recipient, you are hereby notified that any dissemination, distribution, or copy of this transmission is strictly prohibited. If you receive this communication in error, please immediately notify the sender. The information included should not be considered investment advice. There are risks involved with investing which may include market fluctuation and possible loss of principal value. Carefully consider the risks and possible consequences involved prior to making an investment decision.
