What is a dentist for? And a mechanic? Or a lawyer? The advantage of the dentist, mechanic or lawyer is that their fields of work are clear. If I have a toothache, it would be rare for me to go to the lawyer, unless it is to ask for the contact information of your dentist. So I think a better question would bewhat does a financial adviser do?
Let’s start with the basics. There are two things I can say for sure: we all handle money and very few of us are trained to do it.
More or less we left like this: one day you got your first job, a month later you received your salary and just like that, you started making decisions. If you manage yourself well, it is likely that you will have a surplus and that you can choose save it (spend it later) or reverse it (who works for you).
But you realize that you’re already playing the game and you don’t even know what sport it is about? The clock is ticking (inflation too, we are in Argentina) and you don’t even know if you have to kick a ball, swim or jump a fence. If you have never driven in your life and one day you sit behind the wheel and say “start”. Would you know how to do it? Where to go? Which is the best route? Well, that happened to all of us with the money, we started as we could.
In any other field it is the other way around, praxis is almost at the end of learning And it makes sense for it to be that way because it gives us better decision-making tools and avoids costly mistakes. Let’s go to the most basic: we did not buy the car to learn to drive on the road; someone guided us with the basics (pedals, gears, etc.), then we took a course, took the exam and just then we started driving.
My job as an advisor is to help you correct as you go, adjusting and improving from practice. We start by understanding what game you are playing, if it is the one you wanted to play and what result you are looking for. Once you understand the rules of the game, your effort will make sense and it will propel you in the right direction. That the value of having a financial adviser, having someone with knowledge market that helps you define a north and guide you in a mostly unknown terrain.
The alternative is to invest your time to gain experience and improve on your own, you have more than 40 years to do it. But think about it this way: would you take a light mechanics course to take care of the maintenance of your car? Would you ask a friend who has a car but does not know mechanics? Probably not, the most sensible thing to do would be to go to the mechanic, have someone with training on the subject, not only experience or one opinion.
For the same reason, it would be smart to have a financial advisor to chat about all things related to your money: how to protect it, multiply it and make sure it always works for you.
Sometimes the talk will be to clarify ideas and define a specific objective. Others, to see how to implement a specific idea, or simply to make sure that you continue making decisions with your head and not by the “muscular reflex” of emotion. Fear (due to ignorance) or greed (not defining how much is enough and always go for more) are the worst advisers; a financial adviser is the right counterweight to that internal dialogue.
I am always available through Instagram (@nr.asesorfinanciero), LinkedIn (Nicolás Rampinini) or on my website (nrampinini.com). Let’s talk.
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by CEDOC
