January is when many of us think about what we want to change, what we want to start, what we want to do better.
You might even be thinking about contacting a financial advisor for the first time but aren’t sure what to ask. In fact, many people walk into that first meeting with a potential financial advisor feeling vulnerable, maybe even worried they’ll embarrass themselves. It’s important to recognize that you understand more about investing than you think you do.
Whether you’re a recent college graduate thinking about starting a business or an experienced entrepreneur taking on your next venture, you undoubtedly feel like you’re confronting a world filled with uncertainty. After all, the future is highly unpredictable. When I launched Dimensional Fund Advisors with some partners in 1981, people didn’t use the term “startup,” but that’s effectively what we were.
Individuals are responsible for their own finances to a degree earlier generations never imagined. Pensions have been replaced by 401(k)s and other defined contribution plans that are self-funded and managed. Employer-sponsored healthcare is fading quickly and confidence in the Social Security system is at an all-time low.