Once upon a time, ours was a world of Do It Yourself. A world in which the only time you called the plumber to fix the leak in your sink was when the duct tape gave way and the flooding in your kitchen was rising faster than you and your little bucket could bail. A world in which; if your sister\’s boyfriend\’s second cousin couldn\’t replace the shingles on your roof, I\’d be a monkey\’s uncle.

Well. You get the picture. We got away from that DIY mindset for a while, encouraging specialists to emerge and save us all from our general ignorance. Then we figured out that hiring specialists every time the electricity started sparking was expensive, and stores like Lowe\’s and Home Depot started taking advantage of it.

Consider that today a leaky roof isn\’t the problem. Paying for the house with the roof is the problem. This means trying to hang on to some vestige of financial security is our main goal. To hang on we must have an inkling into financial management as it pertains specifically to our own financial lives.

Rewind back to the day of the specialist, when financial advisors were blooming out of the woodwork. That\’s great when you\’ve got enough finances to justify having someone to advise you about them, but when you\’re scrambling to find two pennies to rub together to start a fire so you don\’t have to run up your heating bill, that\’s one more bill you really don\’t want on your hands.

Managing Your Own Finances

You probably know that managing your own finances encompasses a lot more than putting aside a few bucks per week into a savings account. We are talking here about your long-term future, a discussion on investing for the long term with whatever pittance you may have to put toward investments like stocks, bonds or REITs. At this point, the consideration should be not whether you should manage your finances but whether you have the expertise to do so without losing it all.

If your answer to that question is that you cannot do so, it is better to let someone else steer your financial boat.

You Can Learn From Your Consultant

You learned how to change a tire on your car because it was your car and you needed to learn or you weren\’t going anywhere. Your finances are a similar situation. You need to know something about finances before you hire someone to help you. In turn, you can learn a lot from them while you add your semi-educated input while listening to their advice.

It\’s your money. You didn\’t earn it to see it mismanaged to the point that it all goes down the tubes and all you can do is bid it adieu. You absolutely cannot afford to be ignorant of all things financial. It\’s a good idea to put the wheel of your financial boat into the hands of an expert yachtsman while you learn enough to become captain of your own ship.

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Author Bio: For those who enjoyed the preceding post, you may go and check out additional related articles or reviews at Compound Stock Earnings or this Compound Stock Earnings Web Site.

Category: Finances
Keywords: compound stock earnings,investing,investment,personal finance,financial planning,wealth management