08 Mar NOW THERE’S AN AP FOR RETIRING WEALTHY!!
Have you seen the bank commercials about signing onto their Ap, answering some questions, and you can ‘set it and forget it’ for your retirement plan? Isn’t that the coolest…in less than it takes to order a pizza I can set up how my bank will manage my Money and get back to reality TV. Hallelujah!
But come on…is this real? Can my retirement REALLY be set from a few generic questions? I thought investments were complicated?
Meanwhile there are other ads pointing you may want to question how your bank is managing your money. One has a woman asking her advisor if it’s true that up to 30% of their returns have been gobbled up by fees…and in another there are scenes depicting a young man becoming overwhelmed by all the jargon and contradictory information about investing. I believe these new ads reflect what is on the minds of many people these days…
The unquestioning trust that most people have had in banks is starting to come into question and even erode. Like the woman in the ad, it’s time to ask direct questions about how your money is being managed and the fees you are paying.
Consider this: would you hand over the management of your family’s Health to giant pharmaceutical companies? What do you think of answering a few basic questions on an Ap and then those big Pharma companies would prescribe the food you ate, the exercise you did, and the drugs and vitamins that your family took?
Some will say hell yes, sign me up! I hate having to learn about all this stuff and make these choices…I’d love someone to do all this for me!!
But I don’t think that would work for you (or else you probably wouldn’t be reading this). I think you understand that these big Pharma companies might be motivated to sell you food and drugs that put $ in their pockets…and even if they were truly interested in your health…it’s a conflict of interest because they are committed to their products and profits and that could compromise the Health plan they come up with for you.
How many stories have you heard about movie stars and athletes who find out that the person that they trusted to look after their Money ran off with it leaving them broke? Too many to count…and that was someone close to them who they had a relationship with!!
Imagine how tempting it is for folks who have never met you to decide in a board room what’s best for their company, employees and shareholders…and not necessarily best for you…even though it is your Money.
I like to think it is not with evil intent…but in the end, the family we truly think of first is our own…so of course decisions are going to be based on what’s best for them and not yours.
It is nice to imagine giving up responsibility of managing Money to someone who cares about my future…but I challenge you to decide for yourself if that is realistic and in your best interests.
Ask yourself why your bank’s focus is not on educating you on what goes on behind the scenes and how to do it yourself?
That’s why I’m a Coach and not an advisor…because I am passionate and committed to educating you so you can steward your own finances and plan for Freedom in the best way for you.
To learn more about what exactly this looks like (it’s easier than you think), contact me here today.