With 29 years of experience behind him, Douglas Greenberg shares some prudent financial advice. Here are some of his keys on what to do as well as what to avoid doing. Learn why he is considered the best in the business as he discusses his keys to success.
What Is Some Prudent Financial Advice?
The best advice is to plan for the long-term picture. Too many people make the mistake of only developing short-term goals. Then down the road, they realize they have a lot of life left to live but may not have the resources as they did not properly plan.
Yes, right now you need money to pay your expenses. But, your steady job should take care of those current expenses. What happens when you retire and still have the same expenses? An uncertain future can be avoided when you consider the larger picture instead of only the smaller one. This advice comes directly from Greenberg himself.
Consider All Possible Risks
Another big mistake made by investors is putting their money into an investment vehicle without understanding the risks involved with the investment. You need to know all the risks involved with the investment vehicle you are interested in investing.
Let’s say you plan to invest in the stock market. Your best friend has made a lot of money in the market. You want to do that too. But what happens when the stock market tanks and your money evaporates? This could and has happened! Douglas Greenberg says plenty of heartache can be avoided if you weigh all the consequences before reaching a decision about how you invest.
Hire a Professional
Unless you have been in the investment industry for years, the odds are good you may not be fully informed about the best way to go about investing. Yet you want to create an investment strategy that pays off for you down the road. What should you do? Greenberg says to please hire an expert.
This person is somebody who understands all aspects of the investment business and has many years of experience in the financial markets. They are educated in all related fields and have the proper licenses. This is what you want! It is your money at stake and you want it invested by someone who knows what he or she is doing.
Set Attainable Goals for Yourself
One of the worst things you can do, says Douglas Greenberg, is to set goals that are too lofty and impossible to reach. You may find yourself constantly frustrated as the goals will be too difficult to attain in the short term. Goal setting is important and a financial professional can help guide you in making the correct decisions.
A professional has the insight to know when you are making a mistake as well as when you are headed in the right direction.
About Your Author
Douglas Greenberg is an accomplished financial planning advisor, rising to fame with Morgan Stanley. Doug has been recognized by Barron’s, Forbes, and the Financial Times for his work with clients.
Mr. Greenberg continues to assist his clients with financial planning, investment management and in helping business owners sell their businesses. That is certainly good news for his illustrious clientele.
About The Author
