Make the smart investment decision, meet with your advisor!


In tough economic times it is important to look out for yourself. People who are the ‘experts’ will try to take advantage of the fact that they have more knowledge than you. We see it every day from car salesman to insurance agents to your local florist! Knowledge is power, and since the expert has the knowledge they feel that they can manipulate you in to a sale. The truth is, we all know that we get taken advantage of from time to time. This is why a lot of us prefer to do some comparison shopping online before we go in to a car dealership or make a decision on an insurance policy; we are attempting to shrink the information gap between us and the expert.

Why shouldn’t this be the same when dealing with a financial expert? I am not saying that all financial advisors are crooks by any means; I actually trust the advisor that I work with very much. However, I know that he is working on commission, and he has a family to feed the same way I do, so he will push a sale if he thinks the opportunity is there to make some money. In the end, we are all in it for ourselves, right?

This is why I cringed in my last meeting when my advisor used the term ‘smart investment’. For some reason that phrase just really ate at me. I didn’t like the fact that he had a smart investment that he was suggesting to all of his clients. Chances are that he truly believes that it was a smart investment; I don’t think he was lying about that, I just don’t think that any investment can be considered smart for just anybody. When considering a smart investment for you there are too many factors to take in to consideration. Age, risk tolerance, plans after retirement just to name a few.

In order to make smart retirement investment options you need to look at yourself and decide where you want to be and when you want to be there. From there you will have to decide if you are willing to take the risks that will get you there. Investing is just that, investing. It is not saving. It is called ‘playing’ the stock market for a reason…because you can lose.

Meet with your financial advisor and be clear about your goals. Make sure that you have done your own research, or comparison shopping, so you have an idea of what direction you want to go before he makes any suggestions. If your advisor is pushing you in a direction that you are either unclear about or you don’t want to go then you should schedule another appointment so you can have time to look in to what he is proposing. Just remember that there is no perfect investment option for everybody, make sure you do your own research so you make the smart investment decision!

This post was written by

jason – who has written posts on Budget Clowns.
Father of three and married to a lovely women. Always looking for ways to save money, and invest it properly for my children's future.

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