We Indians like to spend more on products than services. The main reason is that objects can be absorbed. We all happily spend money on goods due to the fact that they can be actually used and consumed to satisfy our desire.
But services can only be experienced and not consumed. Therefore, most of the common people are still reluctant to spend money on consultancy services, other than essential services. Many times we do not understand the true value of the outcome we receive from such expert services..
Financial advisors fall into this category. Their services are essential but not urgent. That is why this service is not often included in people’s urgent to-do lists. Despite knowing the benefits of this service, some trigger needs to be happened so that this task comes on the priority list.
What could be the trigger points?
# If there is a big loss in the stock market,
# If you get caught up in the wrong investment,
# If you haven’t invested in anything yet and realize that you have less time on hand,
# If you realize the actual amount of losses that happened due to fear of staying away from investing,
# If you realize that day by day the monster called inflation is depleting the accumulated money,
# If you need to find an alternative product when you realize that the return on your current investment is very low,
# There is a lot of information around you, but when you are confused as to which one is right for you,
# If you realize that the lump sum fee of such consultants is much less than your total monthly expenses in terms of the service they provide and
# Most of all if you realize that my neighbor, my friend, my brother, and my office colleague are now strengthening their financial side with the help of a good financial advisor.
Financial advisors are always a beacon in your financial affairs. It is always advisable to have a well-qualified license holder and experienced financial advisor with you.
Many people ask me where I can invest my money. But financial matters are not just about investing. Along with investing, it is important to see if I am also planning my risk management properly even before investing.
The questions you should ask for self as Why invest than just where to invest? How to invest? What are the things I should keep in mind when I start investing? Only a good financial advisor can tell you this and cover all such stuff in Comprehensive financial planning.
Also, in financial planning, you need a good financial advisor who will tell you what to avoid rather than just what to do, because the risk of getting stuck in the wrong investment is higher. And because of that, you lose both money and time.