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Is Wealth Management only for the rich?

Is Wealth Management only for the rich?

October 01, 2020

The answer is: No. The term “Wealth Management” can be misleading and comes with a connotation that you actually have to have wealth… private planes, fancy cars, and a house in the Hamptons. Actually, Wealth Management is really about getting advice and strategies to live the life you want.

Think about your taxes. Do you file your own tax return? Some people do. Others use turbo tax and tax prep software and still others have accountants. The question is, what if you make a mistake? The stakes are high and errors can cost you. It’s the same with Wealth Management. Can you manage your own money and plan your future? Some people do.  But it is like any other profession. Do you have the time to know all that you need to know about Financial Planning and managing your wealth? It can be complicated. What if you could have had better tools and someone to help you along the way so you don’t miss out on important goals and things that you want?

You can also think about fitness. Do you/WILL you go to the gym on your own and end up with a six pack? Some people do. What about those who have personal trainers? They look amazing! And what about professional athletes at the top of their game? They have coaches, nutritionists and massage therapists to do everything possible to get an edge.

My grandmother used to say “only the rich can afford to go cheap but they never do”. Meaning that the rich know how much getting the right tools is worth and they get the best because going cheap can cost you. 

The only question left is, what will you do to ensure that you live the life you want?