I'm staggered by the amount of trouble that people have initiating a conversation with a fiduciary advisor, and equally amazed at how very smart people can be so foolish with financial matters. Here's a couple of examples of situations we see every day.
My problem is technology. I know it is a generational problem because I did not grow up with smartphones, laptops or the Internet. In fact, I can remember commenting on the Internet and saying, “it would never catch on because we had libraries”. My solution to my technology problem was to employ smart technology-intelligent young people. My point is there are solutions for everything if we only recognize we need help and reach out for solutions.
How many people are close to retirement and have no idea how to access their 401k’s or 403(b)’s, or how to properly invest those funds and protect themselves from a downturn in the stock market. Have they really forgotten the 57% decline in the S&P 500 in 2008-2009? We help these folks day in and day out.
Or the younger generation of college students? Their plan, although they do not know it yet, is to get into the college of their dreams, earn a degree, and graduate with at least $50,000 of student debt…and that is a low- end number. They then will move back home because they have no job, and they have no money? What they have are student loan payments, car payments, and the inability to make ends meet. Please let us help you solve the student loan problem.
Or the forgotten 30-somethings, who are STILL paying their student loans, working hard and have no one to talk to about financial matters. We have abandoned them, and they are embarrassed to talk about their situation. They have 2 children, a dog, and a huge home mortgage? These folks have no one to talk to. They are loaded with debt and have no clue how to get out of debt.
We have a lot of work to do with educating and showing folks there is a light at the end of the tunnel and we would like to help you.