It takes money to make money, is an old adage and in most cases, it holds true. Several of my colleagues and fellow financial advisors will only take on clients who have at least $500,000 and in some cases $1M to invest with them. That investment minimum, weeds out hella people and creates an exclusive club that many people have no access to. Where does that leave the rest of the people with basic incomes who have the same, if not more financial needs and struggles?
Most people believe they don’t have “enough” money to have a financial advisor and instead resort to their own financial knowledge and limited financial education. There are others who believe, they can fix their money issues on their own and avoid financial advice like the plaque. Whatever the reason or justification you identify with, each belief will only prevent you andyour money, from being great.
There’s strength in honesty, transparency, and vulnerability. Admitting what you don’t know and seeking that knowledge is powerful. There’s no shame in wanting to be better and wanting to have more. The only shame lies in the inability to take action; in knowing you want to do better and avoiding it.
I believe my practice and financial services to be somewhat innovative and a break to the status quo and on the contrary, I welcome those with less than high incomes. If you have a job and/or an income, I believe it more than beneficial for you to have the same financial guidance and direction that high income earners are privy to.
So if you know you need help and you honestly can’t do it on your own, seek a professional who can guide you and set your finances on the right track.