The Worst Things About Working with a Financial Advisor

Financial Advisor Worst Things

As much as I try and paint the picture of how awesome it is to work with a financial advisor, there are a few unpleasant things that come with the territory—I know, I know, hard to believe.

We definitely try to make the experience as pleasurable as possible, but sometimes it just isn’t always rainbows and unicorns. We can be a little annoying at times asking for all the information we need. Difficult discussions come with the territory, and critical decisions have to be made about one's financial life—and that means sacrifices might have to be made in order to achieve one's goals.

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A Few Things I Don’t Really Like About Being a Financial Advisor

Dont Really Like About Being A Financial Advisor

In my last blog post, we took a look at a few of the reasons why I love my job as a financial advisor. Some of you may have been rolling your eyes about the joys I get to experience every day, but now we get real and look at a few things I’m not exactly a big fan of as a financial planner.

That’s right, it’s not always roses and unicorns every day. Sure, I do love what I do, but there definitely some things I could do without. These are only my views and don’t reflect the views of NextGen Wealth. This is me getting to the down and dirty you probably won’t hear from most advisors.

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What I Love About Being a Financial Advisor

Love Financial Advisor

Being in this type of industry can certainly have its ups and downs, but that really can be said for any industry. There are a number of things that are in my control, but then there’s also one big one that I can’t control—the stock market.

Once I learned to focus on the things that I could control with my clients, it certainly made for a more pleasant experience for everyone even though the stock market does like to test our patience every once in a while.

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What I’ve Learned about People from being a Financial Advisor

Financial advisor lessons 1

When I got into the world of financial services over 16 years ago—wow that seems odd saying—I really had no idea what I was getting into. It wasn’t like this was always my passion or I always dreamed of being a financial advisor when I grew up.

Like most people graduating from college, I was truly just looking for a job. Sure I was somewhat interested in the financial markets because of the tech boom of the late 90’s, but I didn’t know what it meant to be a financial advisor. I thought it was going to be more like what I was watching on CNBC, but that was far from the truth.

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How to Save for Retirement the Right Way

Save For Retirement The Right Way

Remember when saving for retirement used to be so easy? Yea, I don’t either because I wasn’t alive back then. However, if you were, all you had to do was work 40 years at your employer, get your pension and social security and then sail off into the retirement sunset.

Today, on the other hand, it's a totally different story. It now basically falls completely on your shoulders. There are so many questions. How much should I save in my 401k? What do I even invest in? What about a Roth IRA? The list can go on and on. Let's take it step-by-step to get you moving in the right direction so you can get to retirement – or what I like to call financial independence – sooner rather than later.

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Does Your Financial Advisor Have a Conflict of Interest?

Financial Advisor Conflict Of Interest

When I got into this industry over 16 years ago, I’ll be honest and admit I really didn’t have a clue what I was doing. I started the Monday after I graduated from college and was thrown into the “bullpen” and told to start studying for my exams that I was to take over the next 4 months—I won’t bore you with the details.

Once I passed those, I then went through some really terrible sales training. When I returned back to the office, I was basically told to start bringing in new clients and good luck. Seriously, that was it.

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How to Find Your Unclaimed Property (CASH)

How To Find Your Unclaimed Property CASH

Ever thought somebody owed you something, but you just can’t remember what? Well, guess what, maybe someone does, and it might just be waiting for you in a state where you once lived. And, it’s actually not out of the ordinary to find your name on a state's unclaimed property list.

Believe it or not, states are holding onto BILLIONS of dollars in unclaimed property. And, because of unclaimed property laws, this money has to be returned to you if you ever come looking for it. In 2015 alone, over $3 billion was returned! Crazier than that, though, almost $8 billion was collected leaving another $5 billion uncollected. Trust me, there is a lot of it out there.

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Should I Pay Down Debt or Invest?

Pay Down Debt or Invest 1

The question of all questions in financial planning for individuals in their 20’s and 30’s. This is, by far, the #1 question I hear from those carrying credit card or student loan debt. It’s a great question and one that isn’t exactly black and white.

When the choice is paying down debt or investing, it comes down to a few different things. What is the interest rate on the debt? Would you be investing in a 401k that offers a match or somewhere else? What is your emotional attitude towards having debt? When does it make sense to invest over paying down debt, and is it the right emotional decision for you?

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5 Money Moves the Wealthy Live By

How the wealthy live

Let’s face it, we all want to be wealthy or at least have what I like to call financial independence. However, only a small percentage of the population achieves this dream to where money isn’t something they worry about. They’ve taken the correct actions over several years, which has given them the freedom to do as they wish.

While being wealthy or having financial independence can mean many things to different people, it comes down to what it is you want your life to look like if money weren’t an issue. Today, we will look at the 5 most important money moves that will help you achieve this journey. None of these will happen overnight, but all can be easily accomplished.

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Why Do I Even Need a Financial Advisor?

Why Do I Even Need A Financial Advisor

Great news! You don’t! Much like everything today, you can definitely go the DIY route and figure it out yourself. However, it’s not quite as easy as watching a YouTube video to fix your car, but it can be done. What it takes, though, is that precious resource we only have so much of; time.

Some people enjoy managing their financial planning and investment management, but it’s much more of a hobby than a chore for them. They enjoy the research, planning and goal setting. Most importantly though, they have the time to commit to it.

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NextGen Wealth, LLC is a registered Investment Advisor. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities product, service, or investment strategy. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial advisor, tax professional, or attorney before implementing any strategy or recommendation discussed herein.

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