Sometimes it can seem as though your money is someone else’s responsibility, especially if you outsource your wealth management, or another family member oversees your investment plan. While you may be hiring someone with expertise that can help you make smarter investment decisions, it’s your job to evaluate the results you are getting; be sure to become familiar with some simple tools that will enable you to easily monitor and evaluate your investments, just as you would in other areas of your life.
What happens if an investment is made that looses money? You are the one that will be hurt by the consequences in the form of less money in your retirement account, and, therefore, unfortunately, less financial security. The consequences can even be much worse; you could loose your home or lifestyle, while the person who made the bad investment decision may loose a client.
If you work with a financial planner who helps you establish and manage your savings plan, the planner is not the one who can live out the decisions on a daily basis that you make with her; you are!
Own responsibility for your money today. It may seem as though the added responsibility will create a burden, but it will lighten your load. No one cares about your money more than you do! Acceptance of this truth will instantly empower you.