Reasons to NOT Work with a Financial Advisor

Today’s Prep:

Are there any good reasons to skip out on working with a financial advisor? We talk through some funny ones on today’s show.

Equipping Points:

We often talk about why you should work with a financial advisor, but today we’re going to do something a little different and discuss the reasons you might not want to work with a financial advisor. We have a bit of fun with it on today’s episode of the Retirement Ready podcast.

You may be someone who spends a lot of time researching on the internet. If you want to put the time and effort into it, you can take the more complicated route on the internet. Are you a big fan of DIY? Some are great at it, whether it comes to renovating your home, losing weight, or financial planning. But, in many of these cases, we still end up asking for help to work through the emotional decisions. A financial advisor brings a coaching element to your financial decisions so that your emotions don’t get the best of you.

Perhaps you want to work until your final days. You love what you do and can’t imagine needing to ever retire. Working is great if you want to, but you never know what might happen to your health. It’s nice to have the option to work if you want to or to volunteer, but having the retirement savings in place gives you the flexibility to make that decision for yourself.

Do you like relying on the government for support? Sure, Social Security, Medicare, and other aid is available. But realize then that you are at their mercy. You want the ability to be self-reliant instead of dependent on the whims of the government and what funding is made available.

Maybe you don’t want to leave anything for your kids. This is always an option, and many choose to live their retirement the way they want and leave whatever’s left. If you’re going to leave something though, you want to do so correctly.

We all have the tools to invest, but remember that the value of an advisor is a relationship with someone who is going to keep you on task with your plan. This allows you to enjoy your retirement without the added stresses about money.

Listen to the entire episode or skip ahead using the timestamps below.

1:03 – You’ve already mastered the internet.

3:36 – You like to DIY.

5:25 – Maybe you want to work until you die.

6:56 – You want to rely on the government for support.

9:32 – You hope your kids get nothing.

Today’s Takeaway:

That’s what an advisor can help you with: keep you on task with your plan to make sure that you still make wise decisions.

-Eric Peterson

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