Thursday, May 26, 2011

A Workable Plan


Hope and Reality
Frequently I meet with people whose finances have been devastated by the recent recession and stock market crash or who are elderly and nurturing a tiny nest egg. Sometimes I can’t do much. The seeds of this distress were usually planted years if not decades ago. People often ignore basic tenets of financial affairs like proper diversification. They often invest haphazardly or simply don’t pay attention or lack financial knowledge. But with most people steps are available that can put them on an improving path. Many people actually have enough assets and just don’t know it. They may only need to put their records together and come to a new understanding of their position. Often, though, I wish that I could have met with them in their 20s, 30s or 40s. At that point, it’s much easier to develop a workable plan and help people to understand how to achieve their goals. No matter what your predicament or situation, it doesn’t pay to sink into despair. The view of an objective professional who is trained in finance can outline the tradeoffs and opportunities and bring hope and reality back into the equation.