A New Model of Financial Advice
A new trend in financial advice is needed today to help ensure people truly have the financial freedom to retire when they choose to. We need to consider alternative strategies for creating wealth and I still believe that property is the best way for the majority of people to build wealth in the long term.
I was fed up with seeing the average person desperately trying to scrape together enough money to put into a pension fund that is extremely unlikely to generate sufficient income on retirement. And so, I advise that people need to start taking a new approach to building a retirement fund and creating enough money for their retirement.
More than ever, traditional financial planning is leaving people without the knowledge and the tools to effectively build the funds they will need to retire. The problem is that most financial planners have to sell particular plans and are governed by strict rules about those plans. They also have targets to fill and commission to earn, so it’s questionable whether the customers’ needs are paramount and whether they’ll end up with a product that will get them even close to an adequate retirement fund.
It’s a false sense of security.
Once they’ve signed up to a pension plan, very few people actually understand the figures and what amount of money they’ll realistically have every month to live on. Once people set up pensions, they can easily develop a fake confidence and put the matter of retirement out of their minds.
For many people their pension simply will not provide them the retirement they’re hoping for and they could find themselves in the same position as thousands of people today who are faced with a pension shortfall.
So what is the answer? I believe in giving people advice on creating a financial future that they can be in control of. My new “pension vision” is to advise people on how to create passive income, so they can have an income every month for the rest of their lives without having to go to work for it.
By investing in property, what you are effectively doing is building up real assets that will grow in value year after year as well as producing an increasing income year after year.
Anyone can learn how to create their own retirement fund by building up assets such as property. I urge people to start looking differently at their future and how they create their wealth. By putting people in control of building their own “pension fund” they are empowered to take control of the capital they create and their income flow and when they choose to finish work.