Even for those of us who are accustomed to feeling expertly capable and comfortable in other fields, wading into the often-murky waters of finance and investing can be confusing. Maybe you refrain from investing because of a lack of information —or just the opposite, because of an overwhelming overload of information.
You’re definitely not alone if you find the financial markets confusing or even intimidating. Sometimes it seems as though everyone is expected to magically understand the analysis and jargon presented in the news. Not true—it’s an acquired “second language!”
Finance comes with a language of its own, but that doesn’t mean it’s impossible to understand. Don’t let your future get lost in translation. Knowledge is power, and a little self-education can go a long way towards helping you gain confidence in taking control of your financial life.
Armed with understanding, you can more comfortably begin the conversation on all things money. Be pro-active and assertive in asking questions of key people in your financial life: your bank, your financial adviser, your employer, and your spouse or other family members. Find out where you stand financially, set some concrete goals for the short and long-term future, and determine what you’ll need to get there.
An independent fiduciary advisor can help you assess your financial situation and create a plan that supports your long-term goals. The fiduciary standard is the highest possible legal standard for financial advisors: it legally requires an advisor to act in their clients’ best interests.