Monthly Archives: July 2016

Older Adults Need Help From Financial

It can’t be denied that individuals in the age bracket of 80 and above are higher than those in the middle age bracket. Senior people, since they may experience difficulties especially in making decisions, can be victimized easily especially when it comes to money matters. Sad to say, these people don’t know how to defend themselves from these financial frauds and they can’t just take action when they’re victimized.

With the limitations related to age, one must consider the help of another individual, particularly someone who is an expert on that field.

If you belong to this age group or you know someone from this age group and is seeking for financial advice, it would be better to seek a professional. Financial problems especially during the old age can be tough but through the help of a trustworthy financial adviser, you’d be able to effectively handle money. The consultant will guide you in making decisions involving your money.

Looking for a professional financial adviser isn’t that easy because there are things to consider. One would be to look for a financial consultant with a proven track record. If you don’t know where to look, you can always search the internet.

Make sure that the financial consultant that you are going to choose is someone who is knowledgeable and really an expert to that field. You can verify that by asking for educational background and certificates. These will prove that the financial consultant is indeed an expert when it comes to handling money.

You can find a lot of good and trustworthy financial consultants out there. You can ask help from your relatives or your friends to find a professional consultant to guide you in managing your finances. A firsthand experience from people whom you know can be a good basis to determine whether that financial consultant is trustworthy or not.

Being a senior citizen, you might find it difficult to handle your finances or you do not want to worry yourself from all of those money matters. If you want, you can always assign someone to handle them for you. Make sure that the person you assign to handle your finances can be trusted. You can choose a lawyer or a family member to do that for you.

People Really Need Financial Consultants

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When we are talking about our own money that we’ve earned with hard work it is up to us to decide on what to do with it. However, most of the people are not financially competent enough and financial consultants are becoming more and more popular as we may get some professional and competent piece of advice from them. Nowadays it would be much better to ask for help if you are not well aware of a certain problem rather than make a mistake.

How to Choose Among the Financial Consultants?

There are quite a lot of things we have to consider before choosing somebody’s services. When talking about a consultation we should first check whether the consultants are certified and qualified enough to advise us. Another think we should check is whether there is any positive or negative feedback for their past work. When we enter the consultant’s office there may or may not be certificates hung on the wall. If there are this means that the financial consultant has attended many additional qualification courses. Finally, the most important thing we should investigate is the years of experience. If the consultant is a newbie, it is less likely that the piece of advice would be good enough.

What Are the Types of Financial Consultants?

As it is with every other profession there are different types of people doing this job. There are two generally recognized types of financial consultants. The first type is the so called ‘risky type’. These consultants would most often advise you to take greater risks but would offer you greater income. The opposite type is the safe type – they would most often advise you to invest in a low-risk company but the eventual income would be much lower too. So, it is up to you to decide which typo to go to and how to make your money work for you.

What is the Best Choice for Us?

There is, however, a third type of financial consultants – they would be neither too risky, nor too safe. They would mostly think of you. Usually the feedback for them is the best because they have a huge success rate and they also offer a balanced income from your investments. That’s probably the best thing one can do because there is very little risk for us to lose our money and it is highly likely that we would probably double them. Unfortunately for us there are very little such financial consultants. That makes them very famous and many people want them for their services. That’s probably why they have the highest prices of all.

What Happens When Your Financial Consultant

This is worrying for some especially to those who had put his utmost trust in his consultant. To be honest, if you asked any consultant in the streets if he will stay in this industry for long, he will always say yes! Its like asking a restaurant owner whether his food is nice.

Well, lets be fair, nothing is guaranteed. Its the same as asking whether your the other half will love you forever. We are all human beings, there is also a chance that your consultant will be stricken down with illness and even death. Even if the consultant at that point of time is truly convicted to the loyalty of his financial company, that does not mean few years from then, things will not change. We will never know what the future hold for us, who knows maybe my business is so bad that I have to end up selling hot dogs instead.

As the wise says – The only constant is change. To quote the president of US: “Change, we will” and we always will, be it consciously or subconsciously. Thanks to this ever-growing economy, we find ourselves constantly adapting to the demands of this society (especially ours) and this process of adaptation often than not, entails change in us.

What happens when your financial consultant quit? Even for the most inevitable reasons, there is nothing to worry about. Really. First of all, the financial company will always still be there. What if the financial company bankrupts and close down? Think of this way, if an financial company was to fall one day, the rest of the other insurance companies or even the whole financial industry will fall because this is a collective economy. Remember, all financial companies are regulated by MAS, if MAS has no financial power to withstand a financial company to fall, MAS is most probably crippled already. If that happens, trust me, your insurance is the last thing you worry about 😛

Just think of the each of the domino to be a financial company in Singapore and MAS is the platform where all these dominoes are standing on.

OK back to the topic, so what happens when your financial consultant quit? You know, there is nothing you can do. First of all, you don not even have to worry at all. As long as your financial company is still there, you are still insured, you still can claim, you can collect your money upon maturity, you still can collect your dividends, you still can collect your coupons, your policy is basically not affected at all. The only drawback is that if you need to enquire or do any claims, you have to do it without personal assistance.

First of all, you can always call the help desk though they may not be as efficient or even friendly (I’ve had a bad encounter with 1 financial company’s help desk, I’m declining to name the company though) But still no matter what, you can always head down to the office to make an enquiry, troublesome it may be, but hey at least its a guaranteed method! But wait a minute, now you have lesser to worry!

Most major financial companies even have online portals for you to login to see your own financial portfolio, its even faster to check it out yourself than to ask your consultant. If you think you’re not that IT-savvy which I highly doubt so, there is always phone calls and heading down the office which I’ve mentioned earlier.

So really, there is nothing to worry about with regards to servicing or claims. If you need new advise on your financial needs, there are like tonnes of people in city area doing roadshows you can approach. 😛

What is truly more important is the advise your consultant give you at the point of time. Make sure you touch your heart and ask yourself if you can really trust him and feel that it is the best one he has given you. That is more important than whether he will stay in this industry for long, once you can do that, the rest is history.

Should I Hire a Financial Consultant

When it comes to managing finances, it is important to spend your money properly. Although it is true that you’ve earned your money and you have the right to spend it the way you want, you also need to more careful when spending. To help you, it is important to consult a financial expert.

Nowadays, financial consultants are becoming popular because many people are looking for ways to save money. Professional advice from these people can greatly help in managing finances.

Generally speaking, there are lot things that you should consider first before you choose someone’s services. You need to check whether that person is certified and has the qualifications to give advice financially speaking. You should also look for positive and negative feedbacks for the past work of the professional. It is also important to check the years of experience to determine the expertise of the professional.

As soon as you know how to properly choose financial consultants, you need to be able to determine the different types of financial consultants. There are two different types of financial consultants. The first one is the risky type. These consultants would advise you to take greater risks but the offer is a much better income. On the other hand, the second type is the safe type. The safe type would advise you to invest in lower risk but expect the income to be lower too. Hence, it would be your decision to choose which type of financial expert you’d like to hire to make your money work for you.

However, if you don’t feel these two types of consultants, there is a third type of consultant. This type is not too risky or too safe. Usually, their main concern is you. The feedback for this type of consultant is positive because these professionals have huge rate of success. Aside from that, this type of financial consultants also offer more balance between your income and your expenses.

Seeking the help of a professional financial consultant can greatly help you in balancing your income and your investments as well as your expenses. Working with a financial consultant will greatly improve your finances and will help you achieve your financial goals. You will learn how to balance your finances and make money work for you.