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- April 2017

April 24, 2017
Stock Markets The accompanying chart illustrates the diversification story. It shows returns in several markets over both the March and December quarters. The upward sloping blue columns of the December 2016 quarter show an increase from the low (4% loss)...
Continue Reading

I Thought Interest Rates Were Going Up – What Happened?

April 21, 2017
On March 15, 2017, the Federal Reserve increased interest rates for just the third time since the financial crisis in 2008-2009. Investment theory tells us when interest rates rise, bond prices fall, so rising interest rates are bad for bond...
Continue Reading

Market Timing – A Losing Game

April 17, 2017
The stock market crash of 2008-2009 is a very recent memory for many investors who still bear the scars from the experience. At Rockbridge, we also have prospective clients who walk into our offices saying that they haven’t recovered yet...
Continue Reading

Unique Planning Opportunities with TIAA Traditional

March 23, 2017
Teachers Insurance and Annuity Association, better known as TIAA was founded almost 100 years ago (1918). TIAA provides retirement plan solutions for a majority of the higher education institutions in the United States. One type of investment, called the TIAA...
Continue Reading

Market Commentary – January 2017

January 23, 2017
Stock Markets While markets were down early in the quarter, most, but not all, have bounced back since the Election with small company stocks and value stocks leading the way.  Stocks traded in international markets and emerging markets have not...
Continue Reading

‹ Back to Blog Home

getting started is simple

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