Fatal Mistakes of Financial PlanningSubmitted by Agrawal Associates on September 28th, 2017
Nov. 14, 2017
Dealing with finances on a daily basis can be an overwhelming experience. For many of us, the solution is simply to procrastinate — just avoid the issue and hope it goes away.
It’s for this reason that procrastination is the number one issue financial planners must address with client as it is most prevalent.
“Many of us avoid the subject of finances because we are too confused, intimidated, embarrassed, or simply too uninformed to know our finances must be prudently managed,” explains Agrawal, Principal of Agrawal Associates.
Understanding the variety of missteps many of us make through the course of financial planning can be an eye opener. From procrastination, to making emotion-driven financial decisions, being uninformed, and giving into greed — there are nine mistakes every client should be aware of and know there is proven guidance on how to avoid common pitfalls.
“It’s no wonder Canadians are confused about financial choices. The financial industry is ever-evolving, with constantly changing laws, regulations, markets and investment strategies. Many are not adequately prepared for the responsibility of managing our wealth (or lack thereof); the importance of financial planning, for whatever reason, has often not been instilled into our psyches.”
About Girish Agrawal
Girish Agrawal is the Principal of Agrawal and Associates Private Wealth Management. In addition to his work as a financial planner, he has also authored two books. Summit for Dignity: Climbing Kili for Charity, written in early 2017, is a memoir of his childhood, his preparation and eventual climb of Mt. Kilimanjaro in Tanzania. His second book will be published in Fall 2017 and focuses on major mistakes individuals and families make when dealing with financial planning.