Guide to Investment Counseling
An investment counselor will also take into consideration the following factors:
�· your risk tolerance,
�· your financial plan,
�· your available resources,
�· finding ways for you to reap the benefits of your money working for you.
The purpose of the investment counselor is to help you achieve your financial goals. Many people take their financial plan to the investment counselor, using it as a foundation. Others don’t. Some individuals know that they want to invest and have their goals in mind. In either case, the investment counseling process provides expert personalized guidance to help you realize your financial dreams and hopes.
Since risk tolerance is an important ingredient of investing, let’s use a hypothetical example. Say you avoid risk at all costs. A risk to you would be changing toothpastes, for instance. An investment counselor would probably choose either bonds or certificates of deposit as your best bet. If, on the other hand, you chase after risk (like a bungee jumper with a previous neck injury), then stocks or commodity trading may be suggested to you.
�· Every investment has a risk factor and investment counselors take this into consideration.
As can be seen, planning for one’s financial future can be a very complex task. It can appear overwhelming. It also can provide uncertainty unless you receive the proper professional investment counseling guidance.
Here are some suggestions to make the investment counseling process easier on you:
�· From the beginning, receive the proper guidance by first finding a qualified financial planner. This individual will help you by doing the following:
a. assess where you currently are financially
b. finding what you need to meet your financial and investment goals
c. develop a plan for you to achieve your financial goals and objectives
�· Once you have this financial plan in place, do the following:
a. know what extra funds you have available for investing (this should be stated in your financial plan.)
b. have your financial goals and desires in mind
c. find an investment counselor to assist you in making your goals a reality
d. sit down with your investment counselor to review and discuss your financial plan
e. communicate your financial goals and desires to your investment counselor
f. your investment counselor will then discuss with you the best options available to develop a personalized investment plan for you
And if you are diligent enough and do your research, you may be blessed in finding a financial planner who also provides investment counseling.
Either way, investment counseling will guide you along your desired financial life path.
