What keeps you up at night? What do you find yourself spending more time doing than you wish you had to? If the answer to either of those questions is related to money, you’re not alone. A recent Mind Over Money survey by Capital One and The Decision Lab reveals that 52% of Americans have difficulty controlling their money-related worries.
According to an eMoney Advisor’s Investor Trend Survey conducted at the end of 2021, 34% of Americans ages 18 and older manage all their own investments. Slightly more than that (38%) say they rely on their financial adviser to manage their entire portfolio, while 23% use a hybrid model. Of the 34% who said they manage all their own investments, only one-third said that they actually feel confident handling it on their own.
Finding the right financial adviser can help give you peace of mind because it’s their job to focus on big (and little) financial decisions, providing a roadmap for you to follow. When it comes to providing peace of mind to you, financial advisers can help free up your time and reduce the stress in your life.
Time
Benjamin Franklin is credited with writing, “Remember that time is money.” We all have a limited number of hours in the day, and how we spend that time is important to us. Some people prioritize spending time with family, some people like to travel, others prefer recreational activities. The key thing you want to ask yourself is, “What do I want to do with my time?”
Very rarely is the answer to that question, “Spend more time dealing with finances.” Hiring a financial adviser frees up your time to do the things that you actually love. No longer do you need to sit in front of the computer monitoring your investments—someone else is doing that for you. If you ever think to yourself, “I don’t want to spend all my time with finances” or “I don’t have the time to spend monitoring my investments,” turning to a financial adviser can be a freeing experience.
The great motion study pioneer Frank Gilbreth was once asked why he wanted to save time, and what he was going to do with it. His response was simple. “For work, if you love that best…For education, for beauty, for art, for pleasure…For mumblety-peg if that’s where your heart lies.” Working with a financial adviser can free up your time for that which you love the best.
Stress and Anxiety
Finances are one of the things that people worry about the most in life (it is also one of the major sources of conflict in marriage). Stress can play a part in many major physical and emotional problems. While a certain amount of stress can be good for you, too much can cause severe problems. Why burden yourself with something that others will do for you?
A FINRA Foundation study found that 53% of respondents reported feeling financial anxiety. Having a trusted adviser there for you can give you the confidence and support you need to move past anxiety. Just like a doctor can relieve worries you may have about your health; a financial adviser is a professional who can help alleviate some of your fears.
Whether you’re wondering if you have enough saved for retirement, planning to pay for college expenses, or just trying to figure out what your financial picture looks like, a financial adviser can sit down with you and help take some of the stress out of your life. No two situations are alike, and they can provide you with a plan that is tailored to your particular situation. You can gain peace of mind knowing that someone is there to guide you on your financial journey so that the burden isn’t all on your shoulders.
How to Get Started
No matter what your stage of life, it’s always a good idea to have someone to advise you on your finances. A professional financial adviser can give you clear, objective advice, putting a plan in place to ensure that your financial goals are met and relieve you of the stress of trying to do it all on your own. Find someone that you’re comfortable with and let them help you on your financial journey.
About Chase Investment Counsel
Chase Investment Counsel is a family and employee-owned boutique wealth management firm that offers personalized investment services. Our clients include career professionals, those nearing or in retirement, and families experiencing financial transitions such as generational wealth transfer, widowhood, divorce, or sale of a business. Chase’s active, disciplined investment management team is focused on selecting individual stocks and bonds targeted to each investor’s specific financial goals and risk tolerance. Established in 1957 in Charlottesville, VA, Chase Investment Counsel manages more than $300 million in assets.