The Value of Professional Financial Advice in Your 20s and 30s - dummies

The Value of Professional Financial Advice in Your 20s and 30s

By Eric Tyson

Making the best personal financial decisions requires knowledge, research, and good judgment. Don’t expect perfection — you can do just about everything right, but things may not work the way you hoped for reasons beyond your control. That doesn’t mean, however, that you shouldn’t bother working to maximize your chances of making the best decisions given a reasonable input of time and energy on your part.

Steven Scott’s book, The Richest Man Who Ever Lived: King Solomon’s Secrets to Success, Wealth, and Happiness (Crown Business) had some practical and powerful information. In discussing how to make wise decisions, Scott cites the timeless wisdom from Solomon’s book of Proverbs. Throughout Proverbs, Scott says, Solomon highlights the value of seeking outside counsel:

“Where no counsel is, the people fall. But in a multitude of counselors, there is safety.”

Solomon also discussed the value in finding wise counsel and sidestepping the rest:

“He that walks with wise men shall become wise. But a companion of fools shall be destroyed.”

At critical junctures, hiring competent and ethical help pays off. Too often, though, people fail to hire the right expert and fail to do enough homework before making the hiring decision.