Safeguard Your Finances (the series)

Safeguard #9 is simply a good reminder.

There will always be swindlers masquerading as investment advisors. You can learn to recognize such people by their over-the-top lifestyle.

Excellent advisors communicate clearly exactly how bad the markets have been and can be.

To safeguard your money, you must be able to extricate yourself from any bad investment quickly. Of course, the companies that sell mistakes don’t want you to be able to do that, so they use financial hooks to hold your money captive.

You have a critical part to play in financial planning. Certain responsibilities cannot be delegated to others.

Crazy volatile markets push people toward irrational investment schemes. Know how to avoid them in order to safeguard your money.

One important safeguard is to insist on investing only in liquid assets. Investors undervalue liquidity 99.9% of the time. You need to be in the other 0.1%.

There are several investment safeguards you should insist on. One is to avoid any investment opportunity that sounds too good to be true.

I was recently asked if investors should trust their financial advisors. And my short answer, you may be surprised to hear, was no. Your financial advisor should not also have custody of your investments.