Most Americans feel financial pressures from all sides and must also feel that their personal financial situations have not improved during the past five years. It’s also true that most Americans do not have clear financial plans. By developing a realistic financial plan and paying yourself first, you will be in a better position to achieve your goals. Seek the assistance of a competent financial professional to advise you on investment choices that suit your expectations and tolerance for risk.
Since I am associated with a major brokerage firm, many of the questions asked at my seminars are about whether or not to have a broker, how to find a “good broker,” the problems that may occur if your broker goes out of business, and the ways an investor can use the professional services of a brokerage firm.
When you visit your accountant or tax-preparer, what type of client are you?
Do you drop off a shoe box or shopping bag full of last year’s receipts with the expectation that they will be sorted, compiled and used in preparing your tax returns?
or
Do you have last year's income and expense files neatly prepared and documented so that your records are easy to follow and self explanatory?
Many people realize that they have neither the time, energy, inclination nor financial expertise to act as money-managers. They seek the services of a professional. These investors are not giving up control of their investments; they are using a broker as a financial consultant or investment advisor. In this age of specialization, it usually pays to “do what you do best and hire out the rest.” Successful people know how to use “OPB” (“other people's brains”). If you are a biologist, automobile dealer, orchestra cellist or realtor, then how are you going to find the time, money and energy to be a do-it-yourself money manager? (Question 23 to 35)
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