It’s said, “Good advice is beyond all price.” How true that is. Recently, on Hard Knocks, Carl Nassib was shown educating his teammates about compound interest. While his math was spot on, his logic was flawed.
Attending a financial seminar might seem like a quick fix for financial problems. Drop in, learn some skills, get some current information, and apply it in your everyday life. Easy, right? Seminars can be informative, but they don’t have the same effect as individualized financial advice.
Imagine for a moment being in your early thirties having just retired from a career that took roots as a child with a seven- digit nest egg and possibilities abound. Now envision being in your early thirties, career over, only a few dollars’ left to your name and no ability to replicate what you once had. What should be the former is actually the latter for many in today’s world of professional sports.
A good advisor will help their clients achieve a broader perspective while strengthening the clients problem solving ability. Good advisors know the potential blind spots and help their clients identify and navigate through emerging issues.