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Posts Tagged ‘financial goals’

Economic crises, the market falls, losses or financial goals are not achieved as much bad news that advisors should tell their customers. And especially to explain.

“The basic rule in all cases is to have an excellent level of communication with his client,” said Jacques Maurice, head of investment advisory, Scotia Private Client Group and a director at ScotiaMcLeod. “It’s hard to break bad news to a client who has not spoken for two years. We must therefore encourage regular communication.”

It is better to deliver bad news quickly and not wait until a client worried rushes to your office asking you as out of anger explanations on its financial position.
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Financial literacy is a lot more than the ability to handle a checkbook. It involves the ability to make financial choices, understand money and plan the expenditure over a long term. Everyone must realize that it is not enough to earn money. It is equally important to learn how to manage that money. Those who fail to do so end up in debt, even though they may be earning handsome salaries.
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The tough-minded investor has a lot to commend him or her. They tend to be people with nerves of steel and a high level of risk tolerance. They also tend to be investors who know exactly what their financial goals are and pursue them relentlessly until they’re reached.

So what can we learn from tough minded investors? Discipline may be the most important lesson tough-minded investors can teach beginning investors.
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