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A 4-Step Journey to Financial Freedom

A 4-Step Journey to Financial Freedom

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September 29, 2023

Discover the Mindset for Financial Success: Understanding the psychology of money can often be more impactful than mastering its mechanics. While the fundamentals of earning, spending, and investing are straightforward, the emotional and psychological factors that drive these actions are what truly set you on the path to financial freedom. Learn the importance of mindful spending, how to identify and eliminate financial waste, the benefits of automating your savings, and the power of consistency and incremental growth. Turn financial planning into a game and watch your wealth grow, one deliberate step at a time. It's a long-term strategy, not a get-rich-quick scheme. Take action today and lay the foundation for a secure financial future.

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The Benefits Of Partnering With Able wealth management

In today's complex financial landscape, managing personal finances can be overwhelming.

With numerous investment options and financial decisions to make, navigating these waters alone is a challenging feat. This is where Able Wealth Management can provide valuable guidance and support.

Increased Investment Returns

According to a Vanguard study, individuals who work with a financial advisor can experience up to 3% in net returns compared to those who do not (Vanguard, 2019). Partnering with a financial advisor can result in higher investment returns over time. Moreover, a financial advisor can help individuals make better investment decisions, set appropriate asset allocations, and avoid behavioral mistakes that can negatively impact returns.

Boosted Financial Confidence and Well-being

However, the value of a financial advisor extends beyond monetary returns. In a Financial Planning Association study, individuals who work with a financial advisor are more likely to feel confident about their financial future and report higher levels of financial well-being (Financial Planning Association, 2019). A financial advisor can guide you in making crucial financial decisions and creating a tailored financial plan that includes advice on budgeting, savings, investments, and retirement planning. Additionally, a financial advisor can offer emotional support during times of financial stress and uncertainty.

Tax and Fee Minimization

Furthermore, working with a financial advisor can help individuals minimize taxes and fees, saving significant money over time. A financial advisor can provide expert analysis and insight into the current financial market, potentially leading to higher investment returns. They can also advise on tax-efficient investment strategies and help individuals avoid unnecessary fees.

Financial Security: A Compelling Factor

According to a Northwestern Mutual survey, 70% of Americans who work with a financial advisor feel financially secure, compared to only 30% of those who do not work with an advisor (Northwestern Mutual, 2019). This underscores the importance of partnering with a financial advisor to gain the confidence and knowledge needed to make informed financial decisions and achieve long-term goals.

The data suggests that partnering with a financial advisor can provide qualitative and quantitative value for individuals seeking to manage their finances and achieve their financial goals. From higher investment returns to emotional support and financial well-being, a financial advisor can help individuals navigate the complex world of personal finance and achieve a secure financial future.

References: 
Financial Planning Association. (2019). The financial planning profession and the future of financial advice: Key trends and insights. 
Northwestern Mutual. (2019). Planning & Progress Study 2019: Four insights for a stronger financial future. 
Vanguard. (July, 2021). Putting a value on your value: Quantifying Vanguard Advisor’s Alpha. 

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