We need a solid team around us to help recognize our blind spots. Unfortunately only a small percentage of people work with a financial advisor. Even fewer consumers know how to put a complete Wealth Team together as a support network. The lack of such a support group is the fourth blind spot on the road to financial independence.
Why do you need a team? No single individual is able to effectively coach, manage, and teach all of the sophisticated financial, tax, legal and investment strategies. A financial advisor is not an expert on the mortgage market and products, while a real estate expert cannot guide you on saving for your children’s college education. Having a team of fiscal coaches, each specializing in an important area of your personal finances, can help recognize and guide us through the blind spots.
Imagine you are driving in a car and you have a helicopter flying above you spotting your route to help you safely navigate the road around sharp curves and away from potholes.
Who’s on your team? When choosing a team, it’s crucial to realize the difference between gifted salespeople and those professionals who are strategists, always putting your interests first. The better more trustworthy your Wealth Team is, the more successful your financial future will be.