Protect Your Investments With the Guidance of a Financial Advisor
Money can’t buy happiness. Most experts agree that happiness is often tied to the things we’re passionate about, and simply being wealthy is not, on its own, the recipe to happiness. It’s a topic financial advisor Dan Danford covers in his recently posted “Money is Freedom” podcast.
“People who are the happiest are the busiest,” Danford said. “You can tell they are the happiest because they’re doing things that they love to do.”
What’s also true is that not having enough money, whether it’s to buy a car, a house or just to pay utility bills, can be the source of unhappiness, which means money is ranked toward the top of the list of important things in life. Of the people who do dream of getting out of debt and having money, once they achieve that goal, money becomes quite low on the list of important things in life. Money is simply a byproduct of keeping busy following your passions, Danford explains.
“If you focus instead on the way you treat people and the choices you’re making,” he said, “the success can come from loving what you’re doing and being engaged in that endeavor. Setting out to live your purpose first can bring money and happiness.”
Having money comes with a degree of responsibility because what can be earned can also be lost, which is why it’s smart to consider financial planning. It’s something Danford also touches on in his podcast. He knows of people taking the DIY approach to financial planning who are cognizant of the “nuts and bolts” of investing, the difference between stocks and bonds, and they can sometimes do quite well for themselves.
For example, one person could take the DIY approach, and over a 25-year period, come out ahead. The problem is that there are many more people taking the same approach, and they don’t come out on top. The question is: whether you succeed or fail, could you do better under the guidance of a financial advisor?
“A good financial advisor has spent that same 25-year period seeing dozens of other people and outcomes and can bring some insight to your situation that may add genuine value,” he said.
Explaining further, Danford says that while some people taking the DIY approach do well enough, there is one thing they can’t bring to the table – objectivity.
“If you’re self-taught,” he began, “you’ll only learn what you are capable of teaching yourself. When you bring somebody in from the outside, they may know a vast world of stuff you never knew anything about.”
At Family Investment Center, Danford and his team of investment advisors and financial planners collaborate to assist every client in painting their own picture of freedom. Listen to more of what Danford has to say about why it’s smart to partner with financial planning professionals on his podcast. For more information about what Family Investment Center brings to the table, contact us, and let’s talk about the next steps to your financial freedom.