What is the most important piece of financial advice that you ve ever heard? (2024)

What is the most important piece of financial advice that you ve ever heard?

Automate your savings

'Treat your credit card like it's a debit card. ' This piece of advice is all about avoiding the dreaded credit card interest. And its heart is that you should always make sure you have the cash in your bank account to cover any expenses you put on your credit card.

The single most important piece of financial advice that everyone should follow is to start investing at a young age. And the reason for that is, when you begin investing early, it becomes tremendously easier for you to build wealth through investing.

Don't set stringent goals, yet don't drift.” Balancing is such an apt image: sometimes I'm happily skipping along an imaginary fence, in harmony and love; other times I fall right on my rear and see good intentions and good advice on the other side. Thank God, we can try and fall and try again.

Personal advice is where the person giving the financial product advice has considered one or more of the client's objectives, financial situation and needs, or a reasonable person might expect the person giving the advice to have considered these matters. All other financial product advice is general advice.

Financial advisors provide a variety of services to clients, whether that's providing trustworthy general investment advice or assisting in reaching a financial goal like investing in a college education fund. Below, find a list of the most common services provided by financial advisors.

What is one piece of financial advice you would give to your younger self?

Start an emergency fund and pay yourself every month. Saving for retirement is an integral part of any financial plan, and your nest egg can grow with the power of compound interest.

Taking fundamental steps toward financial fitness can help reduce stress. Budgeting to save and pay off debt and putting money toward retirement can help stabilize your finances. Building an emergency fund and boosting your income can help you reach your goals.

If you have little experience of dealing with finances or you're confused about making a decision, it may be helpful to get professional financial advice. A financial adviser can help with things like: planning for your retirement. investing or saving money.

Getting the right support and advice at the right time can put you in control of your money, so you can: plan ahead with confidence. grow your wealth and set yourself up for a better retirement. improve your overall wellbeing thanks to greater peace of mind.

Clients often do not have the knowledge or expertise that their advisor has, and each client experiences different emotions regarding changes to their portfolio. Financial advisors must understand that their perspective is different from their client's, and bridging that gap is the responsibility of the advisor.

Tenacity and persistence—nothing beats it. Even if your talent isn't there yet, you can always develop it to what it will eventually be. But people who are persistent and tenacious and driven and have a really clear, defined goal of what they want, nothing compares to that. Not giving up is really huge.

“Always clean up after yourself. Always leave a good impression on people. Always be grateful and respectful when someone loans you something. If we treat people well and over-deliver they will usually do the same for us and may even be able to help us out in the future when we least expect it.”

Loving yourself is the greatest gift you can give yourself and should be the priority in your life. Self-love opens the door to finding happiness and meaning intrinsically, rather than seeking it in someone or something else.

Over time, try to write less, not more

Perhaps the most important thing I've learned about writing, ever, is how core editing is to the process of great writing. Having someone else to look over your work can help immensely in this stage, as can reading your work aloud and letting it sit in-between edits.

Don't dwell on the past, and don't daydream about the future, but concentrate on showing up fully in the present moment. 4. Don't make assumptions.

Who is the most trustworthy financial advisor?

Currently, the best financial advisors in the US are BlackRock, Charles Schwab, Facet, Fidelity Investments, Edward Jones, Mercer, and Vanguard. Below, we've outlined each one of these advisory firms' active services, investing strategies, and pros and cons.

A financial adviser can help you make financial decisions and plan for the future. This might include advice about budgeting, investing, super, retirement planning, estate planning, insurance and taxation.

A good advisor can get you to plan for what you really want and then help you realize those goals – what Henderson calls giving clients “life clarity.” “An advisor can help people discover the values that are meaningful to them and then help them use the money to get there,” he says.