Good Financial Planning is a Long Game

Something that comes up quite often is people wondering how to make money, and fast. A good financial planner will be able to assist you with making money but on the other side of that coin, a ‘good’ planner knows the risks of trying to do it too fast.

You won’t find me making a plan to double your investment in 1 year, more likely it’d be closer to 10 years. This seems like an incredibly long time but if you think back to 10 years ago it doesn’t feel like that long ago does it?

When you talk to an adviser they are going to talk to you about risk tolerance. The more risk you take the higher returns that are expected, but that means there will be years like the last 12 months, where you will see significant losses. You want to look at the average return and keep your eyes on the horizon.

My favorite imagery for this is planting a seed. We will help you plant a seed and work with you whilst your tree grows, but good things take time.

There is a multitude of stories, especially recent memories of cryptos, of huge returns but people are more likely to talk about their wins than their losses.

Warren Buffet said it best “If you aren’t willing to own a stock for 10 years, don’t even think about owning it for 10 minutes”

If you’re ready to plant a seed come in and have a chat.

For any Financial Services assistance, please speak to a Financial Planner now at BW Private Wealth Financial Planning | Ballarat | Ararat | Surrounds

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