Many people who love investing, eat and breathe it. They read everything that they can get their hands on about the subject. They can easily explain the difference between Price To Book Ratio and P/E Ratio. But, there are some people in the world who just do not understand or even want to understand the world of investing. I have found that many times there is not much of a middle road. Most people fall into one of two categories – those who love thinking about investing and planning their next investment, and those who are not interested in the subject at all.
It Is Okay If You Hate Investing
Investing is not something that everyone loves, and that is okay. My wife hates anything that remotely resembles math, and so she leaves all of the investing decision making to me. Of course, I talk to her about it and give her a quasi-report of how we are doing on a regular basis. Even though it is okay not to like the subject of investing, it is a subject everyone must address as quickly as possible if they want to retire with a decent standard of living. If you fall into the group of people who dislike investing, then you need to get some help to insure that you are doing some form of retirement planning and investing for your future financial goals.
Partner Up If You Don’t Have A Knack For Investing
Many people have had the luxury of marrying someone who fits them well. I truly believe that opposites attract. The old adage is very true. My wife is very different from me. And, although we enjoy many of the same things, we complement each other quite well. Like I said, she hates investing, but I love it. Hopefully, there is at least one member of a relationship that will take the lead on the financial side of the house. Just be sure to keep the other involved and informed. If you do not have a spouse or someone in your life who wants to help handle investing, then you may need to find professional help.
Think About Hiring Professional Help
Everyone should be investing for retirement. The sooner you start investing will enable you to retire sooner and with a larger nest egg. But, if you neither spouse wants to handle the investing responsibilities, you may want to consider hiring professional help. A fee only certified financial planner can be a great addition to your household team and is someone who can help you navigate the investing waters.
Be sure to conduct a thorough background check and interview any financial planner you choose. There are several websites available that can help you such. If your financial planner is a registered representative you can check his or her background at www.finra.org. Or, you can also check www.sec.gov for background on many stockbrokers to find out if they have been reported for any wrongdoing. But, the best place to check out a certified financial planner you are considering hiring is the Certified Financial Planner Board of Standards.
Not everyone is cut out for investing, and it is okay not to have the investing gene. But, you need to identify this deficiency in your household as quickly as possible and find a way to start investing. If no one feels comfortable with this role, then you should seek professional help.