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Money Talk by Paul Decelles |
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Monday, 17 September 2007 |
Get Local, Professional Help
There's an old saying that I just love --"Never write when you can speak, never speak when you can nod, and never nod when you can wink." I think the author of that particular quote knew that the less you reveal, the less trouble you can cause for yourself! As much as I love the quote, it is rather difficult me to heed its advice. That is, it's hard not to write, when you have a weekly newspaper column!
Unfortunately, a recent column that I wrote got the attention of some readers, who were less than thrilled with my topic that particular week. The title of that particular column was, "A Variety of Financial Advice on the Web". It listed Internet websites where you could find information on a variety of subjects from investing, to insurance, real estate, taxes, car buying, credit reports and Social Security.
The individuals who were unhappy with the column were more upset about what I didn't write than what actually appeared. There are a number of insurance, tax and real estate professionals among the readers of this page. I was reminded by a number of them that I neglected to mention the importance of consulting with a trusted professional after visiting the informational websites that my column recommended.
I am a certified financial planner. You might think that I prepare my own tax returns. You might think that I research and buy my own homeowners, automobile and business owner's insurance coverage. You might think that I perform real estate transactions on my own. Actually, I do none of the above without professional help. I manage my own investments, as well as life and disability income insurance, because those are my areas of expertise.
I rely on other professionals for advice and guidance. I gladly pay their fees and commissions, because they earn them by adding value, knowledge and expertise.
Tax laws change constantly throughout the year. A seasoned tax professional who is up-to-date on all those changes will keep help you file your return properly. You will correctly list your income and deductions, your taxable income will be legitimately represented and you will stay out of trouble with the IRS.
The risk management assistance offered by an insurance agent is invaluable. You simply cannot afford to leave any "gaps" in your coverage. These gaps can result in losses that are either underinsured, or worse, uninsured. They conduct insurance reviews periodically to update your insurance as your needs change. Independent agents shop for you with several companies to get the coverage you need for the best available price. A qualified agent will work hard to make sure that your insurance protection is complete and comprehensive.
As far as real estate is concerned, the complexities of getting a property from listing to closing are significant. An agent will help you prepare a property for sale and help you evaluate offers. A good agent is also familiar with the local market and knows what the "comparable" properties are selling (or not selling) for. A good realtor will get a property priced right (for the seller) and purchased right (for the buyer).
The Internet is a wonderful tool for gathering information and data. It doesn't replace a trained professional, who has qualified for his/her occupation with rigorous testing and remains current with continuing education. Orleans County has excellent tax, insurance and real estate professionals. Use them!
Paul M. Decelles is a CERTIFIED FINANCIAL PLANNER ?, Professional, CFP ?. He is an independent financial advisor and the branch manager of a Linsco Private Ledger office ? Paul Decelles Investment Planning, in Derby, VT. He can be reached by phone at 334-2100 or by e-mail at
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Securities offered through Linsco Private Ledger, member NASD-SIPC. |
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Last Updated ( Tuesday, 18 September 2007 )
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