Achieving financial security is a goal most people have

And yet few ever accomplish

Achieving financial security is a goal most people have and yet few ever accomplish. I would suggest there are several reasons for this, but one of them is simply that people are afraid to ask for help. I don’t mean help in terms of asking for a handout, I mean help in terms of asking someone to help them define what financial security really means, help them develop a plan to get there, and help them implement and monitor that plan. If you’ve never sat down with a Financial Planner, I’ll explain what we do below.

Having never sat with a financial advisor before

The other day I sat down with a very nice couple that recently came into a large sum of money. These folks were in their late 60’s and had never once sat down with a financial planner or investment advisor of any kind. I asked them why not, and they said they weren’t sure they had enough money before this event occurred to really justify needing one.

This is not the first time I’ve heard this from a prospective client and I am sure it won’t be the last. I do understand the rationale because I can relate; I don’t go to the doctor if my throat is a little sore or I have a runny nose. Why not, because I’m not sure I really need a doctor to help me. But at some point, I do get sick enough that I go and see a doctor because I know that my illness is beyond what the over-the-counter aisle at CVS can handle.

I guess for most folks they are making this same sort of calculation in their head. They know their personal finances are not in perfect shape and they use the internet, their co-workers, their friends, etc. as their version of the CVS over-the-counter aisle to get the “help” they think they need.

Here is where the problem lies with this strategy – over time your personal finances tend to get worse, not better if you simply ignore them. Furthermore, the closer you are to retirement age the more urgent the need for a retirement income plan. Even in a town like Danville, there are far too many folks who are earning a great income but not saving enough for their future.

Over time, your personal finances tend to get worse, not better if you simply ignore them

What better a goal to accomplish in 2018 than to design and implement a written financial plan that will serve you and your family for the next 5, 10, 20+ years. Start the process today by sending us an email or giving us a call.

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