It's a common misconception that it's always less expensive to do it yourself. If fact entire industries have cropped up around the ""do it yourself"" Myth! If you don't believe me just drive around any area and look for the Home Depot or Lowes store. These stores exist and thrive because we have been told that we can save the expense of hiring contractors, carpenters, plumbers and electricians by applying a little elbow grease and doing the job yourself. But when you consider the price of the materials, and the price of the tools you need to buy to do it right, and the time invested not only in the project but often in redoing the project when you realized you did it wrong the first time, is it really worth it?
Big businesses say NO. Recently the trend in big business has changed. Instead of spending a lot of time and money to learn to do a specialized task themselves, or hiring someone full time, they have found it much more cost effective to hire a professional consultant. Today there appears to be a professional consultant for almost everything. There are management consultants, marketing consultants, business consultants, sales consultants, construction consultants, job or employment consultants, and the list goes on and on.
And, it makes sense. In today's fast paced, rapidly changing world, there is just too much information they need to know, if they want to make good decisions. It's just too easy to make a bad decision based on limited knowledge. Most people should learn what big businesses already know. In the long run, doing it yourself can cost you much more than hiring a consultant.
This is particularly true in the financial services industry. Very few people can invest enough time to learn everything they need to know about insurance and finance. And, what appears to be very simple, on the surface, is in fact very complicated when you know all the facts. That's one of the reasons so many people are struggling financially today. They've made some very serious and costly mistakes, like choosing the wrong investments. Too many people have put all their savings at risk and have lost 40% or more of their money in recent years. Others are being too conservative and their investment growth is not even keeping pace with inflation. One of the biggest problems I see every day is many people have not positioned themselves properly and are paying considerably more taxes than they should. And, still others have bought the wrong types and amounts of insurances and they or their families are paying the consequences.
I highly recommend finding yourself a professional consultant, whom you can trust and rely on. You want someone who will take the time to help you understand all of your options. Choosing the proper advisor or consultant is the key to having the financial freedom you have earned and deserve.
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