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Who Knew I needed a Financial Adviser?

Who Knew I needed a Financial Adviser?

July 06, 2016

I am a young professional focused on building my wealth. I save a portion of my paycheck and invest a portion into my 403 (b) account each month. The percentages I’ve chosen are based on my research. However, I have to ask myself, “How can I be sure that my numbers put me in the best possible position?”. On top of that, “Who can I talk to about my current investments and my big picture financial goals?”. As a staff writer for WealthRamp I am learning a lot about the new Department of Labor rule that states that all financial advisers must act in the best interest of their clients. I couldn’t believe it when I heard it. I would have thought that was already a given. But it’s not. As a young investor, this made me really think carefully about finding someone that I can trust to give me good advice.

WealthRamp’s financial advisers have all been vetted and so I decided to try the matching platform. I completed the questionnaire and was matched with two advisers. After looking up Jeanne Gibson Sullivan, I decided she was a perfect match for me. Even better, Jeanne was a fellow Mount Holyoke College alum whom I had met before during my senior year at MHC when she came to do a financial planning workshop! How cool is that?

Jeanne and I met the following week at her office, Financially in Tune in Wakefield, MA. During the meeting Jeanne listened to my financial goals and assessed the distribution of my 403 (b) portfolio. She also planned out her suggestions of investments that we would discuss in a following meeting. I really enjoyed her willingness answer my questions about how what I was learning in my books and videos applied to my investments. For example, I wanted clarity of what a Roth IRA was and what are REITs? Jeanne explained what these investments were and if they were a good option for me.

I left the meeting feeling more confident in my investment decisions and my financial future. I am a huge advocate of personal education, but I’ve found that having someone knowledgeable and trustworthy to help me achieve my financial goals is a huge advantage, especially at my age. In recent months, more studies have come out about millennials working until a later age. The article, “How Work Will Change When most of us live to 100” in the Harvard Business Review states, “Longevity also pushes back the age of retirement, and not only for financial reasons. Yes, unless people are prepared to save a lot more, our calculations suggest that if you are now in your mid 40s, then you are likely to work until your early 70s; and if you are in your early 20s, there is a real chance you will need to work until your late 70s or possibly even into your 80s.” This shows that people my age will be working longer to pay for retirement, but I plan on having my investments bolster my financial well-being instead of relying solely on my income until I’m 80 years old. I’m grateful that WealthRamp offers such an important service to investors. My financial adviser truly fits my needs!

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This is great for the wealthy, but the rest of us ordinary citizens can't afford such help. Guess I'll be working until I drop over...

Learned that you don't need to be quite as wealthy as you once did to have an advisor. It's tricky out there...

good advice

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