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Money and Finances
Reply to "As an advisor, into the shark tank..."
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[quote=OTAlexFA][quote=Anonymous]What mistakes do you think individuals who manage their own money without an advisor make that using an advisor would prevent?[/quote] I'll need more specifics of that question but I'll give 3 brief generalizations... 1. Not evolving the portfolio as goals and time horizons change. 2. Making emotional and myopic decisions that may not coincide with the endgame. 3. The most important, I believe, which plays into the first 2 - Not having a targeted, personalized, and comprehensive financial plan in place. Remember the commercial with the two neighbors, I think it was ING? One man is carrying his "number" and the other person says he is just throwing money at it? It seems far too many people just throw money at their retirement and go with cookie cutter advice without having a plan specifically tailored to their individual goals and objectives. [/quote]
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