Take the right steps and you and your family can enjoy financial security. But you must anticipate your changing needs. Our panel of experts tells you how to plan for each decade, and Teresa Ooi spoke to real life couples.
Paying for professional financial advice is much the same as paying other types of professional services. It comes down to the size and complexity of the issues that you want to solve. Simple problems cost less than solving complex ones. Financial advisers have moved from selling products and receiving commissions to the more transparent fee system. Here’s how you can work out what you should pay.
Want professional help to achieve your financial goals? If you are reading this, congratulations – you are taking the important first step to securing your financial future. Choosing the right financial adviser is a critical part of that decision. Your financial adviser should be someone with whom you can build a long-term relationship. Someone you trust to hold your hand through the ups and downs that life throws at you. In a nutshell – someone you can count on.
Ultimately, making money and growing wealth isn’t about the number, it’s what you do with it. A financial plan that works for you today could be completely wrong for you in as little as six month’s time if you decide to start a family, setup your own business, buy a house or move into retirement. So, how do you make those difficult life decisions?
There is a power imbalance, but you have rights. Enforcing your rights around financial advice should be simple. You are paying for a competitive service, which is regulated, from qualified people, who are licensed, to act in your best interest. The more you know about what your rights are should anything go wrong, as well as appreciating your responsibilities to make sure they go right, the less chance you’ll be stung by poor practices.