In our previous article, we spoke about how to achieve financial independence and shared some information about the type of things one should and shouldn’t do in order to reach their financial goals.
Much of this comes down to careful planning, thoughtful decisions, and comprehensive strategies. However, talking about these habits is easy. The difficult part is actioning them in a way that benefits you and your portfolio.
In this article, we take a look at the role a financial advisor plays in working towards and achieving financial independence in today’s difficult economic climate.
Spoiler alert: we help you develop the right habits, we help manage your emotions, and we help you diversify. These are the simple (yet complicated) building blocks to a financially independent life. In our experience, we have come to learn that success doesn’t happen overnight, and this is especially true in the financial world, unless you hit the jackpot of course. But even then, how will you make your money work for you?
The answer is simple. Use an independent financial advisor because we help you do the following:
Your money can only grow if you don’t spend it. The first thing that we help you do is to find a way to live below your means. This is one of the most important and effective habits anyone can learn. Additionally, once we have you spending less than you earn, we help you invest the difference in strategies that provide a good return.
Many people like to track their expenses. However, this is not constructive as it only takes a look at what you have already spent. A better habit is to control your expenditure by actively choosing where your money should go to work in your favour. Our financial advisors can help you plan and control your spending, so you never have to go into the negative to get through the month.
The world of tax can be confusing and overwhelming. Our financial advisors help you maximize your tax efficiency in every legal way possible.
Fumbling around will get you nowhere, especially in the world of financial growth. A financial advisor will help you develop, implement, monitor, and reassess a financial plan that is tailored specifically to you, your current financial situation, your needs, and your goals.
We have all been there. You know that place where a bad decision took you? And when it comes to your finances, you literally can’t afford to make a single poor decision, let alone many. Financial advisors are equipped with all the tools and knowledge needed to make good financial decisions. Whether it’s advising against buying a house that’s going to be a never-ending expense or going on an expensive holiday when you haven’t properly saved for it – we help you make better choices with your money.
Emotions are natural and can even help you find the love of your life. However, when it comes to money, emotions should be kept out of the decision-making process. With a financial advisor by your side, you can avoid making hasty, emotional decisions regarding your money. In turn, you can avoid major, unnecessary financial loss.
Diversification is key to building wealth. Our financial advisors can help you diversify your portfolio across various industries, asset classes, and sectors. Diversification helps you, as an investor, reduce the risk of your entire portfolio taking a massive knock.
Financial advisors play a crucial role in financial success. We take a look at your individual portfolio, your spending habits, your savings vehicles, and everything else in between before finding ways to optimize it all, leaving you with a clear plan and workable strategies to guide you on your journey towards financial independence.
Contact us to find out more.
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