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Many planners and advisors require that their clients have an investment portfolio of at least a minimum value, sometimes $100,000 or more. This means it could be hard to find an advisor willing to work with you if your portfolio isn't well established. In that case, look for an advisor interested in helping smaller investors. How do financial planners help? Planners are professionals whose job is to invest your money for you, ensure that your money is safe, and guide you in your financial decisions. They draw from a wealth of experience at allocating resources. Most importantly, they have a financial stake in your success: the more money you make under their tutelage, the more money they make. The herd instinct, alluded to earlier, is the idea that just because a lot of other people are doing something, you should, too. Many successful investors have made moves that the majority thought were unwise at the time. That doesn't mean, however, that you should never seek investment advice from other people. Just be wise about choosing the people you listen to. Friends or family members with a successful background in investing can offer worthwhile advice, as can professional advisors who charge a flat fee (rather than a commission) for their help. Invest in smart opportunities when other people are scared. In 2008 as the housing crisis hit, the stock market shed thousands of points in a matter of months. A smart investor who bought stocks as the market bottomed out enjoyed a strong return when stocks rebounded. This reminds us to buy low and sell high. It takes courage to buy investments when they are becoming cheaper (in a falling market) and sell those investments when they are looking better and better (a rising market). It seems counter-intuitive, but it's how the world's most successful investors made their money. Your life and conditions in the market change all the time, so your investment strategy should change with them. Never be so committed to a stock or bond that you can't see it for what it's worth. While money and prestige may be important, never lose track of the truly important, non-material things in life: your family, friends, health, and happiness. {"smallUrl":"https:\/\/www.wikihow.com\/images\/thumb\/5\/5d\/Start-Investing-Step-23.jpg\/v4-460px-Start-Investing-Step-23.jpg","bigUrl":"\/images\/thumb\/5\/5d\/Start-Investing-Step-23.jpg\/aid1319046-v4-728px-Start-Investing-Step-23.jpg","smallWidth":460,"smallHeight":345,"bigWidth":"728","bigHeight":"546","licensing":"<div class="mw-parser-output"><p>License: <a rel="nofollow" class="external text" href="https:\/\/creativecommons.org\/licenses\/by-nc-sa\/3.0\/">Creative Commons<\/a><br>
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<\/p><\/div>"} For example, if you are very young and saving for retirement, it may be appropriate to have most of your portfolio invested in stocks or stock funds. This is because you would have a longer time horizon in which to recover from any big market crashes or declines, and you would be able to benefit from the long-term trend of markets moving higher. If you are just about to retire, however, having much less of your portfolio in stocks, and a large portion in bonds and/or cash equivalents is wise. This is because you will need the money in the short-term, and as a result you do not want to risk losing the money in a stock market crash right before you need it.
Consider using the services of a financial planner or advisor. Buck the herd instinct. Re-examine your investment goals and strategies every so often.