Money

Want to Get Rich Quick? Who Can Stop You?

When everybody except you seems to be getting rich quick, what you need most is prudent guidance from a financial adviser.

Nothing can be more effective at keeping you from getting carried away and taking risks you’ll regret later. A good adviser helps manage your portfolio—but, above all, helps manage your emotions.

However, advisers themselves can get carried away, especially at times like these, when markets are awash in liquidity and speculation seems unstoppable. Now is an ideal time to check in with—and check up on—your advisers. Before it’s too late, make sure they can manage not just your emotions, but their own.

I have no doubt the best advisers are good at keeping their clients from bailing miserably at market bottoms and buying euphorically at the tops. But advisers are human, too.

During the 2008-09 financial crisis, brokers and financial planners often sold their clients’ stocks as the market fell—even though, if their hands were steady, these professionals should have been buying.

Want to Get Rich Quick? Who Can Stop You? Source link Want to Get Rich Quick? Who Can Stop You?

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