We all need a good financial advisor

Donna Willan Latest, Money cents

We all need a good financial advisor

When I was 26 and got my first ‘real job’ I contacted a financial advisor who sold me an RA policy and another random 30-year policy. In hindsight, it turns out both were seriously poor investments! On the bright side, at least I have an RA, even if it turns out it is not going to provide the golden retirement I was planning.

For the past 10 years or so I’ve been managing my finances on my own (aside from occasional unhelpful calls from said financial advisor), and while I’ve not done a bad job; it’s becoming obvious that I might need to change things.

I reckon I’ve probably got about another 20-25 years of earning, so perhaps I need to think of a new way to reach that golden retirement. I was talking with my brother recently and realized I needed ‘professional help’.

So, 21 years later I think I need a new financial advisor.

I need a financial advisor to help me think through my situation, my options, my existing policies, and listen to all my doubts and dreams. And help me with a plan to get to my dream. I guess my lesson is that no matter how on top of things I am, and how small my income and investments are; like most things in life, its often good to get objective, professional input. In this case, a financial advisor.

I’ve made an initial enquiry and am waiting for our first meeting – more on that in a future column.

So, I really urge everyone to take a moment and reflect – is your current financial advisor up to the job? And if you don’t have a financial advisor, now is probably a good time to re-think that.

In my next column, I will talk about home security; one of those necessary, and expensive evils that we can’t really live without.


Money Cents blog

Meet the Just One Lap team at these free live events

Click here to meet the Just One Lap team at one of our live, free events.

Subscribe to Just One Lap