Five Financial Planning Myths

American Investment Planners LLC

500 North Broadway, Suite 260, Jericho, NY 11753

(516) 932-5130 / (866) 932-5130

What have you heard about financial planning and the process of meeting with an expert advisor? That it's too expensive? Too time consuming? Regardless of what you may have heard and believe, it's important to realize that like anything else, many myths about the financial planning process are circulating and gaining ground - do you know what's true and what's false?

To set the record straight, we've compiled a list of some of the most common financial planning myths and debunked them:

Myth 1: Unless you're rich, you don't need a financial planner:

• Although it may appear that you only need a financial planner if you have a large sum of money to handle, the truth is that everyone can benefit from sitting down with an expert in the field. Why? Planning doesn't always have to be about how you will protect your assets - it also involves developing strategies for how you can live comfortably in the future while working within your means!

Myth 2: No effort is required on your end once a financial planner steps in.

• While yes, your financial planner will take care of the more complex processes that come with saving and investing, they aren't the only party required to put in effort. Since you will still be responsible for where your money goes on a day to day basis, it will be your job to monitor how much you spend and where you spend it when your financial planner is not around.

Myth 3: Investing is the only thing your financial planner can help you with.

• Of course investing is one of the most popular topics people turn to financial planners for, but that certainly isn't all they do! An expert financial planner like American Investment Planners LLC can help you with your insurance, taxes and estate too!

Myth 4: Credentials don't really matter when it comes to financial planning.

• To feel confident that you are receiving well thought out, carefully planned strategies, you must absolutely pay attention to the credentials that a financial planner possesses. Although there are a variety of designations they can have (which may differ in terms of importance depending on what you're seeking help with), you should always take them into consideration when choosing one to work with.

Myth 5: Financial planning is easy enough to be done alone.

• Even if you don't have a lot to manage, financial planning is not the easiest of tasks to tackle. And even if you have the knowledge needed to cover the basics, a financial planner can offer additional insight that can prove to be helpful either in the current moment or down the line.

Now that you know the truth surrounding some of the most common financial planning myths, we encourage you to give us a call to get started on your future! We offer financial planning services for generations of families and to date, manage hundreds of millions of dollars in assets annually.

For more information about how we can help, please contact us at (516) 932-5130 today.