Question
The benefits of paying a professional to manage your money include expert advice, time-saving, and potentially better investment returns due to their knowledge and experience. They can help you diversify your portfolio and manage risk effectively. However, the risks include the cost of their services, which you have to pay regardless of whether they make money for you or not. There's also the risk of miscommunication or misunderstanding of your financial goals. Lastly, even professionals can make mistakes or be affected by market downturns.
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The problem with the stock market, of course, is that it goes down as well as up – and a lot of things can cause a stock price to fall. Women investors in particular tend to have a low risk tolerance, making many of them unwilling to invest in the market. It seems safer to pay a professional to manage your money for you – but, that money manager has to be paid whether or not they actually make money for you. If you learn how to practice value investing, you can manage your own money with confidence.
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