Among the challenges of modern life is managing our resources. Among the resources that need to be managed are time, physical abilities, talents and money. Society has professionals for each of these aspects of life, but most can be managed personally. Managing money, however, can seem a daunting task. The financial world is full of complex options, the markets are fast moving and discipline to save is easier with help.
Investment options are many and varied. They include mutual funds, which can be indexed or specialized. Other investments include bond funds of various types. Individual stock investing is a possibility. Real estate, precious metals, foreign exchange, small businesses and racehorses are all possible places to invest money. Money manage professionals study these options and understand the risk tolerance of those whose resources they manage. They have access to resources both domestically and internationally. A good manager will be able to explain the benefits and risks of these options in a mostly unbiased way. The markets once included the physical exchange of shares. A Wall-Street trader would walk across the floor of the market and trade shares with someone else. In our current era shares can be traded on line in milliseconds. The rate of trades has increased making it uniquely hard for the average individual to manage trading and regular day to day activities. Not only have the markets increased in speed, but also made the world seem smaller. It is not likely that one person can keep up with the speed of events happening, but a manager generally has a support system that seemingly understands everything and is able to move quickly.
One of the unique benefits of a money manager is having someone who can help set budget goals, provide progress reports and encourage the user to stay focused on goals. Living within a budget may prove challenging. Not having excess money for the daily latte may be stressful, but at the end of the quarter or year when the statement comes and it reports a nice growth of assets, the owner will be pleased and closer to long-term goals. The help of a competent other person whether in weight loss or investing will provide the support needed.
Money managers enable the investor to navigate the complex world of investments with the expertise of another. Money managers understand the ever increasing speed of trading and the need to be ready and willing to make decisions rapidly. Money managers can be the disciplinarian, the one who helps set and reach goals and if occasion requires, remind the investor of his goal. The quality, honest money manager will provide the investor with the security and peace of mind necessary for daily tennis games rather than hourly internet visits to brokerage accounts.