Category: Financial Planning
Choosing health insurance can be confusing, especially when you compare traditional plans with high deductible health plans (HDHPs). Buying insurance on the open market and comparing employer-sponsored plans taught me that choosing the perfect policy for varying health scenarios is impossible.
Still, I’ve learned that I can make a reasonable guess on the plan that might work best for my family. Here are some steps I’ve taken to clarify the pros and cons of health plans available to me:
Getting financial guidance should be straightforward. But, in my experience, the process of seeking expertise can take me down the wrong path if I’m not careful. Here’s how to recognize the right path.
In a meeting with a financial professional, I may freeze up when quizzed about financial goals, fret that I haven’t accumulated a fair amount of money based on my age and income, or fear being judged for past mistakes. Worse, I may get frustrated if a professional establishes financial targets that are out of sync with my capabilities or recommends products that seem pricey or not aligned with my expressed needs.
I have written about what shouldn’t happen in a financial advisory relationship. But knowing how things should proceed is equally useful. Recently, I spoke with Peter J. Creedon, CFP (Certified Financial Planner), ChFC (Chartered Financial Consultant), CLU (Chartered Life Underwriter), and founder/CEO of Crystal Brooks Advisors, a Registered Investment Advisor (RIA) in regard to common misperceptions about financial planning.
He dispelled common myths and explained how the planning process ought to proceed. Here are five myths and truths about financial planning and planners: