Having a savvy caddy is vital for success in the game of golf. Likewise, having a savvy advisor is vital to successful retirement planning.
Many of the functions an excellent caddy performs for his golfer, a financial advisor also provides to an investor.
Professional caddies have a strong knowledge of the rules of the game and the particular hazards and traps of the course. They advise their player on various strategies that will be useful for a particular hole. Likewise, a superior financial advisor has a keen knowledge of investment opportunities and all the rules and regulations for the particular type of investment. He advises his client on strategies that will be effective in reaching his goal.
While the top caddies have a good understanding of the golfer's personality and style, the best financial advisors have an understanding of the client's financial goals, timeframe and risk tolerance and offer advice accordingly.
A good advisor realizes the value that a successful investment plan can add to future retirement plans. The best financial advisors take into consideration their investors interests and daily lives, rather than just the end result. Whether ambitions include traveling the world, playing golf at the country's premier courses or being able to provide security for family members, financial advisors adjust plans and investment strategies for each client. A good caddy not only knows the game well, and is able to refer to the technical rules book frequently, but is able to advise a golfer by reading his mood and offering support as well.
A caddy takes the burdens of a golfer and puts them on his own shoulders, literally. A good financial advisor does this same thing for his clients. An advisor shoulders the economic headache and burden of retirement financial planning. This way, clients can focus on their own lives and interests, much the same way that caddies allow golfers to focus on perfecting their game.
A good financial advisor strives to keep his client in the fairway by adjusting for changing environments and conditions. Specialists in retirement planning can help rebalance assets each year so that a client's preferred risk level is maintained. Though it might be contrary to common rationale, buying low and selling high is a healthy adjustment for any investment portfolio.
The best caddies in the business have been with the same golfers for many decades. Choosing a financial planner can be a lifelong relationship; so start today with someone who cares for your needs and goals beyond retirement investing.