Charlotte, NC (PRWEB) March 26, 2006
Do-it-yourself investors typically earn miserably low returns because they are often motivated most by emotion, according to studies from Dalbar, a financial-services market research firm.
So why do many of today’s time-crunched, otherwise successful business owners still try to do their own research, and buy and sell assets, instead of hiring a more competent professional to handle highly important assets?
“Trying to manage your own portfolio is a big mistake,” says Jeffrey B. Harris, chartered financial consultant and author of Retire Rich and Happy: 12 Secrets to Retirement Success (Aames-Abbott Publishing, http://www.RetireRich-Online.com). “It goes directly against what you know to be a good practice: delegating important tasks to professionals.”
With nearly twenty-five years experience in the financial services field, Harris has helped hundreds of business owners build wealth through investment. He strives to help clients learn not only how to accumulate monetary wealth, but also how to live a life rich in happiness.
According to Harris, there are five basic reasons many people fail to take the crucial step of hiring a competent financial advisor:
They aren’t aware of a new law passed by Congress that allows companies sponsoring retirement plans to hire independent financial advisors to help participants invest and mange their retirement money.
They are so busy running their day-to-day business that they can’t imagine adding something else to their already-overloaded schedule
They expect the company who sold them their retirement plan to help them manage and monitor their investment choices.
They think hiring a financial advisor would “cost too much” and wouldn’t be “worth the expense.”
They know there are competent advisors among all the commissioned salespeople trying to make a fast buck, but they don’t know how to tell the difference.
Bottom line? Unless someone would hand over their portfolio to you, and pay you real money for your help, consider delegating the chore of managing your assets to a more seasoned professional to ensure a more sound financial future.
Are you ready to retire rich and happy? Take a simple 9 question quiz to find out at http://www.RetireRich-Online.com.
BIO: Jeffrey B. Harris, Financial Advice to Help You Live RICHLY
Jeffrey B. Harris is a chartered financial consultant with nearly twenty-five years experience in the financial services field. An in-demand speaker and consultant, he is president of Jeff Harris and Associates, Inc., a fee-based Registered Investment Advisor and a Registered Principal with Raymond James Financial Services, Inc. of St. Petersburg, FL, member NASD/SIPC. Harris previously hosted a call-in radio show about finance as well as offered commentary on the local ABC affiliate.
Retire Rich and Happy: 12 Secrets to Retirement Success