Mar 13

Part 3: Can’t I Do This Myself?

by Geoff Wells

Believe it or not, the simple answer is, “You can, but most likely you won’t.”

Emotions – How do you feel about a 10% market downturn?  If you have $10,000 in savings, the $1,000 loss stings, but it is not the end of the world in terms of retirement.   How about if you have $1,000,000?  Now that 10% loss has a value of $100,000!  A large loss close to retirement could jar anyone’s emotions.  This is a primary area where a financial advisor can provide a world of difference.  With experience in financial markets, an advisor can take the emotions out of the financial asset decisions and plot a logical course for their clients.

Emotions are also stoked by a relentless advertisement and journalism barrage created to grab headlines instead of focusing on what is important.  The entire financial service industry thrives on your emotions as a way for them to profit.  In contrast, a fiduciary (one who always holds the clients’ best interests first) financial advisor can separate the signal through the noise and take the emotions out of financial decision making.

Desire – Saving and investing are traditionally not in the forefront of our minds and often get ignored.  A good example of this is that the average person spends more time planning their vacation than planning for retirement!  Is this you? By delaying uncomfortable but essential financial conversations, you will only hurt yourself.

Knowledge – Career knowledge is another reason that it is advantageous to hire a financial advisor.  Similar to a doctor or lawyer, advisors have spent many years learning and perfecting their craft.

Time – Finally, the most important value that a financial planner can offer a client is time.  Time saved from stressing about money; time saved from trying to learn complex financial topics; time that can be used for your family, friends, or hobbies.  This concept is no different than hiring a lawn mowing company in the summer to take care of your yard.  You can do it, but it takes time and you most likely won’t be as diligent nor enjoy it.

Return to “Why Do I Need a Financial Advisor?”

About the Author

Geoff Wells is a Certified Financial Planner at Rockbridge Investment Management. “My interest in financial planning grew from assisting friends and coworkers with their retirement plans. Over time, I developed a knack for simplifying overly complex financial topics. After several years into my aerospace career, I knew that helping people with their personal finances was my professional calling. I feel extremely fortunate to have joined Rockbridge with its fee-only advisory model and remarkable team approach to financial planning.” Geoff is a graduate of the CERTIFIED FINANCIAL PLANNER™ Certification, Ohio State University Finance (M.S.) and MBA, Kelley School of Business, Indiana University, with a Mechanical Engineering (B.S.), University at Buffalo.
Learn more and/or Contact Geoff


You Might Also Like

Other articles filed under Family Finances

Market Commentary January 2016

January 21, 2016
Stock Markets In 2015, domestic large cap stocks (S&P 500) and REITs were up while other markets were down – emerging markets were off big!  The positive results in the S&P 500 were driven by just two stocks – Amazon...
Continue Reading

The Problem With Diversification – Emerging Markets

January 20, 2016
One of the tenets of successful long-term investing is the practice of portfolio diversification.  Through diversification, investors can increase their expected long-term return for a given level of risk (volatility).  This is accomplished by investing in assets that are not...
Continue Reading

What’s Happening At Rockbridge

January 19, 2016
2015 was an exciting year of growth and change at Rockbridge.  Market returns were less than ideal for the year, but we continue to see growth in our fee-only business model as prospective clients seek out unbiased advice and professional...
Continue Reading

Investing and Action Movies

January 15, 2016
When we go to a good action flick, we enjoy the suspense and surprises, but no one wants that experience when investing.  James Bond and Mission Impossible would not be box office hits without some interesting plot twists, and an...
Continue Reading

Road to Rockbridge

January 13, 2016
Our Rockbridge team is continuing to grow, and as a new member, I would like to take a moment to introduce myself. My name is Lisa Cellucci.  I was born, raised, and educated right here in Syracuse.  Even as a...
Continue Reading

‹ Back to Blog Home

getting started is simple

315.671.0588 info@rockbridgeinvest.com Schedule a meeting Sign Up for Our Newsletter