SB

Managing your money

Think you're good with managing your own money? Think again.

Ok.. There is no such thing such as free lunch (unless you have a cool friend like www.vinhboy.com who would offer me help but never asks for anything in return. hehe) It does cost you $$ to hire a financial advisor. Some of you thinks it's stupid pay someone to manage your money when you can do it yourself.

Well, I know it's tough to admit that you need a financial advisor, but think again. Ask yourself these questions: How much time do I have? Am I lazy? Am I a procrastinator? If you answer yes to these questions, you need a financial advisor, my dear!

Most of us think we can make great profits because we hear about the stock market somewhere on the news. but that 'little' knowledge won't help. trust me .. because if it did i'd be rich by now. It is important that you not only know the stock market well but also the stocks' characteristics. Why? because you never know what other stragedies life's gonna bring to this world. A financial advisor can see the future (yea kinda scary) better than we do because she has better knowledge.. and knowledge comes from hard working, lotz of time spending to do research (the kind of time that we don't have because we're too busy making money elsewhere), etc. I'm not saying that she'll be 100% right all the time, but a good financial advisor does have a better idea than we do.

Have you thought of putting your money in your retirement yet? Don't know whether ira fits you better or roth ira fits you better? What about 529 plan, etc.? It is important to plan ahead.

But of course I hope you choose a good financial advisor, not just someone who carries a Financial Advisor tittle on his forehead and lounges around all day long. Just an example, a financial advisor who advices you to put money in your retirement plan sounds like a better one than the those who would first try to sell you an annuity. Yea that'd give them some good money.