Financial success is fraught with obstacles. The most commonly mentioned are: no clear financial goals, uncontrolled spending, insufficient savings, chasing high returns, excessive debt, no emergency fund, invisible inflation, and lack of knowledge. These are all issues which can be successfully addressed by a financial advisor.
Moving to the next level of obstacles, here are some common reasons women give for not using a financial advisor and my responses:
Do you know how much you may currently be paying in hidden fees? My fees are completely transparent, which means I am glad to explain and discuss them. And they are usually deducted directly from your account, so there is no need to write me a check.
Don’t have sufficient assets
Everyone needs help. In fact, the less you have, the more important every dollar becomes and the more critical it is that you get on track for the future. I do have an investment minimum of ten thousand dollars. If you do not have that, then let’s start with some counseling to help you save that initial amount and more.
They just want to sell me some pricy product
I do not sell products. I provide fee-only financial planning and investment advice.
Prefer to do it on my own
Really? And would you also take out your own appendix? Rewire your house? Rebuild your transmission? We all have different knowledge, training, and skill sets. I would not presume to know all that you know about your profession. Do what you know, and do it well, then seek professional help for all else.
Are you not interested in making sure you don’t someday become a bag lady? I don’t have any other good response for this. If you don’t get it, you don’t get it.
I can only speak for myself. I am an open book, have a spotless record, and will answer any questions you wish to ask me. I have a legal and ethical fiduciary obligation to always do what is in your best interest.
Husband, brother, or father does that for me
Only you can be responsible for yourself. Financial maturity is as important as any other aspect of adulthood. Know that 90% of all women will be solely responsible for their finances at some point in their lives. What will you do then if you never bothered to know how? A man is not a financial plan.
I just don’t understand that stuff
Which is why you need help. We can start at wherever you need to start. With the basics. At heart, I am an educator and will tell you as much as you need in the simplest of terms. I’m not out to impress, I’m just here to help.