North Bay Business Journal

Everyone is looking for an edge when it comes to investing. Who knew gender could be a factor? Often it is the male who professes more interest in finance and investing, but it turns out the female brain’s innate affinity for “connecting and protecting” has some advantages.

Many people struggle with managing personal finances because as net worth increases, financial decision-makings becomes more complex. Although professional advice can help, most investors think that their financial counselors’ only job is to manage their investments. A good adviser, however, will look beyond a client’s assets and provide guidance on taxes, retirement, estate planning, insurance, and more. But how do investors measure the value they receive from broader financial counsel and not just on investments?

When working with a specialist — a doctor, lawyer, auto mechanic or anyone else — asking the right questions is critical in getting your needs met and the best service possible. However, we often don’t know what we don’t know, thus formulating smart questions can be difficult.

Here are some of the most important questions to ask your existing or prospective investment adviser and why.

The average American spends 45 years or 90,000 hours working. She typically spends about half that time — 20 years or more — retired. Yet, planning for retirement is often overlooked or put off until it’s too late to adequately prepare.

As financial planners and investment advisers, we study market trends and research, and are privy to the predictions and analyses of various pundits and experts. Ironically, some of the wisest investment advice comes from a man who had no money to call his own. Aesop the fable writer lived in Ancient Greece during the 5th Century B.C. and the morals of his stories give us great insight into smart investing for today’s volatile marketplace.

Building wealth, retiring comfortably, enjoying financial security. Isn’t this the dream of every business person? Yet, the reason many people never reach their goals is a combination of the seven biggest money mistakes we see in our practice.