8 Things Your Financial Planner Won’t Tell You
MSN Money has a list of 8 things your financial planner won’t tell you.
#1 stands out to me since it basically means a financial planner doesn’t have much of an advantage over someone who is savvy about their own money. At least with a lawyer or a doctor you know that they went through years of schooling to get where they are. A financial planner, not so much.
#4 is also interesting, since an inexperienced financial planner (see #1) probably has no basic educational training to draw ideas from. The broader the knowledge of the person doing your finances the better off you should be.
Overall these reinforce the idea that most people should take control of their own finances. Another benefit to managing your own finances is that you can likely start small when you have limited funds, and as your money grows your knowledge will grow. No one cares about your finances as much as you do. Devote some free time each week to studying investments and personal financial management and you will have as much knowledge as most financial planners.
