?? #3 - A few Thoughts On The Financial Planning Debate: Self-Directed or Professional Guidance?
Garrio Harrison
I help business owners and startup founders who sell align their sales+marketing investments with their goals. This gives them to ability to close sales more cost efficiently while saving on marketing.
Managing your finances in an increasingly complex business environment and dealing with the increasing complexity of life can feel more challenging with each passing year. This seems to be the conversation us millennials are having these days. This is especially true for business owners whose net worth includes their business, or an executive who aspires to one day start a business or invest in early-stage companies. I know I started thinking a lot more about it when our son Andre was born.
Trying to intentionally juggle investments, retirement accounts, taxes, and all the rest can legitimately feel like a full-time job itself these days. No wonder so many of us perpetually debate just handing the whole operation over to a professional financial planner.
That's essentially the core question: Does the potential upside of having a dedicated financial advisor - personalized planning, investing guidance, a steadying presence during rocky markets and unexpected life events - really justify having to pay for financial guidance and planning? I would argue it is.
On one hand, the appeal of the self-directed route is undeniable. The cost savings can be worth it. And there's something satisfying about being the master of your own financial domain without any middlemen or middlewomen.
However, navigating the financial world's complexity can turn into a stressful experience of second guessing and wondering what ifs. One minute, you're digesting new tax code changes. The next, global markets are swinging wildly amid geopolitical chaos. All while your own human emotions like fear and wanting to maximize your returns threaten to steer you drastically off course from logical decision-making. Make one misstep or key maneuver, and it could undo years of disciplined wealth-building.
So how do you cut through the mental noise and make the right call for you? By getting honest with yourself about your specific money goals, risk tolerance, and investing/finance knowledge.
Some of us are wired with financial savvy and nerves of steel to treat money decisions with cold rationality. In this case, the self-directed path can absolutely be its own rewarding form of wealth optimization if executed effectively. I believe the “youth” call these folks diamond hands.
For those prone to the occasional anxiety around money or foam investing bender when markets descend into chaos? That's where a trusted financial advisor becomes invaluable as the protector of your hard-earned resources.
More than just accumulating assets, a financial planner helps you proactively preserve and grow your long-term wealth in alignment with your very personal life vision and goals. Not just mindlessly chasing whichever investment is hot until the next fiscal craze rolls around. They'll help you play both financial offense and defense through every market cycle and life event.
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At the end of the day, the right answer to this "self-directed or pro guidance" question comes down to whatever helps you comfortably sleep at night based on your unique priorities. Maybe overseeing your own aggressive portfolio strategy and investments brings you joy, making the self-directed path feel like the right move.
However, for those wanting to feel fully in control of their finances without risking decades of work being erased by emotional whims or overlooked tax nuances, paying up for professional advisory starts feeling like a worthwhile investment in peace of mind.
There's no objectively right or wrong call here. It depends entirely on knowing your own money mindset's strengths and blind spots, then making an intentional choice aligning with your authentic vision of financial freedom and life satisfaction.
All that being said, do yourself a favor and spend some legitimate soul-searching time on these two questions.
If the answer is yes to either or both of those questions, it might be worth taking a serious look at working with an advisor.
? When it comes to your financial future, you can't afford to guess if you're making the right decisions—invest accordingly.
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? See you in the next edition.