According to some Australian Securities and Investments Commission surveys and their reports, only 27% of Australians seek financial advice.
This is worrisome.
Financial advice nz is about strengthening your financial position to achieve your goals quickly. And research shows that 90% of people consulting nz financial advisers believe they are in a better financial situation because of the help.
So, here we will bust some myths that prevent people from seeking financial advice:
MYTH 1: GETTING RICHER AND GETTING HIGHER RETURNS IS ALL THAT ADVICE IS ABOUT
Building your money is one aspect of using financial advice nz, but it is by no means the only aspect. Some of the tasks we assist our clients with are listed below:
- budgeting
- investing
- retirement planning
- estate planning
- insurance and taxation
MYTH 2: ADVICE ON MONEY IS ONLY FOR THE WEALTHY OR THE OLD
Absolutely not! Everyone can benefit from financial counsel if you're just starting and require assistance with debt structuring and family protection.
Maybe you're in the middle of your career and know that adjustments need to be made; you're no longer living paycheck to paycheck and are uncertain about your future financial situation or how to pay for your children's education.
You can get support from a financial advisor through life's ups and downs.
MYTH 3: GETTING FINANCIAL ADVICE WILL COST ME MORE MONEY THAN IT IS WORTH
Yes! financial advice does have a price. Since you are paying for a professional service, it makes sense. 90% of research participants, however, claimed that getting financial guidance had improved their financial situation.
It costs money to invest in early and continuous education and stay current on trends, laws, research, and product changes. What we charge is a reflection of this research and the knowledge needed.
MYTH 4: I DO NOT NEED ADVICE AS I CAN DO THIS BY MYSELF
You may think that you will be able to manage your finances yourself, but with all that education and focus on financial advice, won't a Financial Adviser do it better?
A financial adviser can help you feel confident that your plans are achievable and guide you on the correct path.
MYTH 5: I DON'T HAVE A COMPLEX ENOUGH SITUATION TO VALIDATE SEEKING ADVICE
Hopefully, you've realised by now that financial advice is for everyone, regardless of the situation. Whether you think your situation is complex or relatively simple, you may still benefit from financial advice in planning your retirement, managing super funds and investing with a purpose.
CONCLUSION
Financial needs vary in complexity depending on the individual. Regardless of your stage of life or financial condition, getting financial advice nz could make all the difference. It is crucial that you comprehend that the information above is broad in nature and does not consider your particular circumstances. You should think about whether the information is suitable for your circumstances and, if necessary, get specialised guidance from a financial expert.
Source From - Debunking Common Myths About the Need for Financial Advice