It's About Context...
In January 2015, I wrote about the 2015 Sector Predictions made by the highest profile investment strategists on Wall Street. Here is a chart of their collective predictions as published in Barron’s on December 15, 2015. (A ‘+’ is a pick and a ‘-’ a pan. For 2015, they predicted information technology (+8) would be the top performer and utilities (-7) the worst).
U.S. households generally agree they need a financial plan to achieve long-term success and security. However, too many households—including those with engineers and scientists—hold beliefs about financial planners that make them hesitant to seek out or work with a qualified financial planner.
Here are eight truths to dispel the myths about “real” financial planners.
Myth 1: Financial planners are the same as stockbrokers, insurance agents and other financial salespeople.
Since the Great Recession began in 2008, there have been unlimited doomsday commentaries about the rise in Federal debt and the coming collapse of the U.S. dollar:
The U.S. budget deficit grew another $53 billion.
Debt as a percentage of GDP is growing.
The Chinese prefer gold to U.S. dollars.