The New Retirementality: Planning Your Life and Living Your Dreams... At Any Age You Want

Chapter 21. Finding the Right Wealth-Building Partner

The best interest of the patient is the only interest that matters.

—Dr. William Mayo (said back in 1905)

Think of yourself as a person who will surely possess wealth. What do people with wealth do? They hire someone to help them manage and protect that wealth. Why haven't you made that move yet? When I ask that question, answers run the gamut from distrust to embarrassment and many emotions in between. Let's examine some of the major objections people have to getting help and how this resistance may be impeding their personal wealth-building process.

I'm Doing Just Fine on My Own

Many people manage their own stock and/or mutual fund portfolios and get good returns. Some of these people are truly savvy investors, and others are fortunate beneficiaries of a bull market and good timing. The more your portfolio grows, the more you feel the need to get some help in managing your personal wealth. Many people seem quite content to remain alone while growing their assets, but that mind-set is subject to change when the issue shifts to protecting those assets.

Ask yourself these two questions:

1. Do I know everything I need to know about asset allocation and protection, tax-reduction strategies, and estate management?

2. Do I want to invest the time and effort to learn these issues?

   Do I want to continue to invest the time it takes to keep up with the markets and remain competent as an investor?

If you answered yes to these questions and have the time ...