Property Investment Articles
Limitations of Wealth Professionals
Hi everyone, Salena Kulkarni here. And in today’s little video, I want to talk about why the majority of people don’t understand the limitations of many of the professions surrounding the wealth industry.
So, there are so many people who in one way or another bring a set of tools to the table for the average entrepreneur when it comes to creating wealth. You’ve got financial planners, you’ve got accountants, you’ve got property managers, you’ve got sales, real estate agents. You’ve got advisors of all different types. The issue that most people face though is they don’t understand what each of those skill sets is that is brought to the table. So for example, a lot of people will go and see their accountant and say, “Do you think this is a good investment?” And they could be talking about a property, for example. The reality is that accountants are really good at analyzing numbers, at reporting numbers, about allocating assets to different kinds of structures. But they don’t necessarily have the skill set required to actually diagnose and assess the quality of an investment.
And in the same token, people do the same thing with financial planners. Financial planners are great at making sure you’re properly insured, making sure you understand your compliance and requirements for retirement planning. But they’re not necessarily the best people to go and talk to when it comes to creating wealth through property. If you’re the sort of person who wants a completely hands-off approach to wealth creation then, by all means, go and see a financial planner. Because they’ll take care of it for you and put it into products and services that will give you the base level returns. But what’s really important to understand is there are a whole bunch of people out there that can bring different skills to the table that you might need in the course of your life as an entrepreneur on the journey to creating wealth.
The most important takeaway that I want to share with you today though, is only you can be the driver of your own financial destiny. If you want to create wealth and control your money to take you to that next level, you have to want to retain control of how your money is looked after and how it’s invested. By all means, get advice from other people. But understand that each of those professions, whether it’s accountants, financial planners, agents, mentors, whoever, they’re all going to have their place. They’re all going to bring value to the table. But they’re going to have their limitations.
The best thing that you can do as an investor if you want to get amazing results, is investing in your own education. Increase your awareness around money, increase your stewardship, increase your access to opportunities, so that you can really definitively have control over your future financial destiny. So, if you’re interested in more, please come and join us in the property boardroom, our private Facebook group. And yeah, look forward to chatting next time. Take care.
P.S. – Whenever you’re ready, here are 4 ways I can help you grow your wealth.
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