{"id":9947,"date":"2022-03-28T09:38:18","date_gmt":"2022-03-28T01:38:18","guid":{"rendered":"https:\/\/www.infinitysolutions.com\/?p=9947"},"modified":"2022-03-28T10:36:35","modified_gmt":"2022-03-28T02:36:35","slug":"why-having-a-financial-adviser-to-hold-you-accountable-is-critical-to-achieving-your-financial-goals","status":"publish","type":"post","link":"https:\/\/www.infinitysolutions.com\/blog\/why-having-a-financial-adviser-to-hold-you-accountable-is-critical-to-achieving-your-financial-goals\/","title":{"rendered":"Why Having A Financial Adviser To Hold You Accountable Is Critical To Achieving Your Financial Goals"},"content":{"rendered":"

Accountability can mean the difference between success and failure when it comes to our goals, whether they be related to our work, our health and wellbeing or our finances. Holding you accountable is just one of the many roles a financial adviser can play in guiding you towards financial success. <\/em><\/p>\n

The importance of accountability<\/strong><\/span><\/h4>\n

Imagine the scenario:<\/p>\n

You\u2019ve set yourself a goal of going to the gym three times a week. It\u2019s gym day but you\u2019ve had a hellish and exhausting day at work and the thought of chilling in front of the TV with a glass of wine is FAR more appealing than sweating it out on the treadmill.<\/p>\n

BUT you\u2019ve arranged to meet your exercise buddy at 6.30pm.<\/p>\n

Because you don\u2019t want to let them down, you resist the temptation of wine and Netflix and drag yourself to the gym to complete your hour workout together. Of course, you come out buzzing and energised.<\/p>\n

What was it that made you turn up at the gym and transformed a lazy evening into a more productive and healthier one?<\/p>\n

Accountability to someone else.<\/p>\n

Accountability and financial planning <\/strong><\/span><\/h4>\n

Having someone to hold you accountable for your goals increases your chances of achieving them.<\/p>\n

Interestingly, the status of that person is also an important factor. Research by Ohio State University<\/a> indicates that sharing a goal makes you more likely to achieve it but it is important that you share it with someone whose opinion you value.<\/p>\n

It follows that when it comes to financial planning, discussing your plan with your financially illiterate friends probably won\u2019t be effective, but sharing it with a qualified professional financial adviser will.<\/p>\n

If you set a goal of saving $200 a month into a retirement plan with your adviser, there is a much higher likelihood that you will follow through. Knowing that at your next review you will have to justify your decision to splash your cash on gourmet meals out\/tech\/luxury mini breaks instead of saving it into your pension gives you the motivation to stick to your plan.<\/p>\n

What else will a financial adviser do for you?<\/strong><\/span><\/h4>\n

Of course, a financial adviser will do far more than simply hold you accountable. They will:<\/p>\n