Financial coaching is ideal for people who have realized that their financial situation isn’t quite in the place where they know it should be, and they want someone to help walk alongside them to guide them to becoming financially secure and a conscious consumer.
Understand that engaging with me as your financial coach is going to take work. Gathering and tracking your personal information and understanding your relationship with money will take time and effort.
What financial coaching is NOT
Financial coaching is NOT managing your investment portfolio. If you want someone to manage your investments and your money for you, then you need an investment advisor and not a financial coach. I have been an investment advisor in the past, but to receive compensation and make investment recommendations requires that you be licensed by the SEC (Security and Exchange Commission).
Managing investments doesn’t need to be overly complex (in fact, complexity often lowers returns), so the average person can handle their own investments, but if you have a large enough investment portfolio and the money to pay for full-time investment management, there are professionals who can do that for you.
A financial coach and investment advisor are quite complimentary to each other because a coach can help give an unbiased perspective and teach you what you need to know to be a good investment client.
My objective as your financial coach is to: 1) help you understand and navigate all the options available so that you can make the best educated decision for your finances and situation.
A financial coach doesn’t do all the work for you
If you want to hand all of your documents and paperwork to someone and have them create a plan for you, then you might want a financial planner. Just like athletes who need to do the work to be successful, I can’t do the work for you, YOU HAVE TO DO THE WORK.
A financial coach cannot perform miracles
If you want a quick and easy fix or a get-rich quick scheme, this isn’t for you. There maybe some suggestions that will have an immediate positive impact on your financial situation, but achieving true financial freedom takes time. Getting out of debt and building wealth is not a sprint activity but more of a marathon.
Is Financial Coaching Right for Me?
Financial coaching isn’t for everyone but may benefit most people.
If you are a true do-it-yourself person who is financially savvy and has been managing your own budget and investments for years and have struck a balance between finances and your core values, then financial coaching might not be necessary for you.
If you are like most people who don’t have the time or interest to research financial topics and integrate those topics on your own, and you would like to accelerate your financial success, having a financial coach expand your understanding while supporting and encouraging your success, can be very beneficial.