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

Before You Retire, Make a Leisure Plan with Purpose

August 19, 2016
We all know the importance of getting your finances in order and creating a financial plan when you are on the brink of retirement. However, creating a “leisure plan” can be just as important to a successful retirement. This recent...
Continue Reading

Market Commentary July 2016

July 20, 2016
Stock Markets Just look at the short-term variability in the various equity indices shown in the accompanying chart.  It shows how markets behave through time – some markets are up substantially while others are down.  Of course, this variability is...
Continue Reading

Client Care: Beyond Investing

July 18, 2016
Although our name is Rockbridge Investment Management, there are many services that we provide to our clients beyond managing investments.   We wanted to share just a few of these additional skills with our clients. General Questions We are here for...
Continue Reading

Another Surprise – Yet Again!

July 14, 2016
The recent vote in Britain to exit the European Union is yet another reminder of how markets often react negatively to surprises. We cannot help but ask ourselves, “Is it different this time? Maybe this is the event that upends...
Continue Reading

Introducing Kevin Sullivan

July 8, 2016
Rockbridge is pleased to announce that Kevin R. Sullivan joined the firm in April after spending 25+ years in the trust & investment management divisions of local banks.  Kevin is a graduate of St. John Fisher College and brings to Rockbridge experience...
Continue Reading

‹ Back to Blog Home

getting started is simple

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