Most financial advisors lead people to produce financial plans that are fraught with risk.
When it comes to “Protection,” such as insurance, financial advisors typically choose to offer plans in which you end up paying the highest premiums for the lowest benefit – exactly as the insurance companies like it. Using these plans people usually expose themselves to way too much risk in every single area of their insurance. One’s insurance should be a solid foundation that protects your financial house from ruin. Most people I first meet think they have their’s well taken care of, but as they become more educated end up changing almost every single decision they had previously made.
Kingdom Calling’s clients are schooled in all areas that contribute to sound stewardship. It’s kind of strange that we aren’t licensed to sell car insurance, but we can give you an education that you’ve probably never heard where your car insurance is concerned. In fact, afterward you’ll likely want to have a talk with your agent and get the coverage that you want after you know what’s important and what is just extra cost to the insurance company without benefit that is worth your money.
When it comes to “Production” most financial advisors believe in the mantra “to get a higher return, you’ve got to take on more risk.” This is the same as saying that to get a higher return you’ve got to increase the chances that you lose your money. What sense does that make?
This idea doesn’t work in real life, but it is the prevalent theory out there. It’s a shame that people have to lose so much that they’ve worked so hard for in order to learn this truth. There is a better way.
Do you know what types of risk you’re exposing yourself to? Wouldn’t it be a good idea to find out?
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Photo credit: Idol