What is a Financial Planner?
Financial planner is a consultant, specialized in planning your monetary flow including investment protection, savings, pensions, education, taxation, or even legacy.
Do I need one?
Depends. Basically, people have three choice in managing their money. First is to do nothing about their money. People in this category is too busy to care about how their money spent. the dangerous thing about this type is loss potential is always big and we should remember that retirement is always come to everybody. Second, is planning financial condition by ourself. To do this, we should learn various topics about financial and practice. Though it will take some times, the benefits is good. The knowledge on financial is also useful in considering and evaluating the options given from a financial planner. Third, is to rent a financial planner to help in our monetary decision. Do not forget that the service offered is not free. Fees that you must pay is various depending on what service will you take. Some have hourly rate while others ask for commission on every successful investment that you have made.
Tips on getting a financial planner
1. Do all of your financial plan yourself before getting a financial planner. Some might be too busy to do this but try to do it at least one year to have the big picture on your financial condition and potential. By doing this you will be much smarter in considering any options your planner have for you.
2. Realize that there are a potent conflict of interest between financial planner whose income is based on commission on their sales rate, compromising the objectivity of their advices. You should be very careful when choosing your personal financial planner, at least choose the bonafide firm and check their certificate before picking one.
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