If you’re thinking about retirement, you’re probably looking for the best way to grow your hard-earned money. You think, I need to invest in the stock market. Which seems to logically lead you to a stock broker. But using a broker to grow your nest egg might be the biggest mistake most people make.
Hi, I’m Bradford Ferguson with Halter Ferguson Financial and I get it. Everyone says you have to play the market to make money. There’s this romanticized picture of a trading floor and people yelling and throwing tickets. It’s exciting. But it’s also scary and daunting and you want help, so it's easy to fall in with the wrong kind of help.
If a broker was the RIGHT kind of help, than no one using a broker would make costly mistakes--like buying and selling at the wrong time--and no one would run out of money. But we all know that stock investors cost themselves four percent by doing exactly that. In fact, if you use a broker, you’re liable to make a mistake you cannot take back, because a broker only does what you ask. They won’t stop you from making costly errors that could jeopardize your future. They won’t stop you from panicking and going to cash and they won’t stop you from jumping on the trendy investment that is overpriced. With a broker, you’re liable to buy high and sell low--the opposite of what you should do--because a broker does what you ask, whether or not it’s a good choice.
So how should you invest to grow your money? You need a fiduciary financial advisor to manage your investments. The fiduciary part of that title means that they are legally bound to act in your best interest. So when panic sets in because the market experiences a correction and you want to sell it all and go to cash, your financial advisor will tell you no. They will educate you, and remind you of your goals, and the stock market’s long history. They’ll remind you that volatility means growth, and help you ride out the waves.
So let me ask you, do you really want to keep believing that a broker is the way to invest and risk making a mistake that could cost you your future, or do you want to work with a fiduciary who will look out for what’s best for you at all times?
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