Jerry Citarella: The value of self-help books versus qualified assistance

About six months ago, when I began writing this column, I had one goal in mind: to inform and protect you, the reader.

I want you to have all the information and warnings necessary to make effective and educated decisions. That’s usually what separates the haves from the have-nots in the world of finance.

I’ll repeat some important factors again here.

My motivation week after week is this: Throughout my years in business, I’ve known people whose lives have been virtually destroyed by bad advice or poor choices.

I want to make sure that doesn’t happen to you. I want to empower you so you don’t end up like those people who could have changed their lives if they’d had the information you receive every week in this column.

Many people have gone through horrible experiences put themselves at risk or in some cases completely devastated themselves financially because of bad decisions, situations or advisers. You may even be one of them.

There are far too many good people who’ve either been taken advantage of or gone down the wrong path. This needs to stop. I’ll do whatever I can to prevent it from happening to you. I’m committed. I’ll give you the information, but it’s up to you to take action.

If you’re new to the conversation of finance, I look forward to guiding you along a path that will eliminate the confusion and wasted time so many encounter as they approach planning. I’m doing what I do to make sure you have what’s needed to move forward with confidence as you plan for the future.

Today’s world is all about immediate gratification. We do everything in our power to cut corners and get things done fast.  Sound familiar? It’s not always a good choice.

We live busy lives, and there’s nothing wrong with finding shortcuts and saving time. However, when you’re setting future plans into motion, making hasty decisions could be devastating in the long run. Besides, planning your future can be a lot of fun. A few extra steps at the onset can pay off in big ways at the end. 

It’s easy to miscalculate the time necessary to plan successfully. You may be tempted to run through the process quickly, not fully realizing that your choices are going to paint the picture of your future.

But when you’re doing something that’s going to affect the rest of your life, whether that’s 30, 40 or 50 years, it’s important to spend the appropriate amount of time on it.

An impulsive choice could end up costly, or worse, compromise your family’s well-being. Take your time. Do things right the first time.

Trust me. It’s a lot easier than having to undo mistakes later. It’s frightening to think that some people spend more time planning a one-week vacation than they’ll spend planning their financial security. Don’t be one of those people.

As I’ve stated before, there’s lots of information floating around out there. Some of it is good and some actually does more harm in the long run.

You usually won’t learn how to plan your future by reading a how-to book on finance, so don’t waste your money.

There are hundreds, maybe even thousands of books on the market that will tell you how to plan, but most neglect a vital point.

The books take for granted that everybody who’s going to read them and follow their advice is the same. Guess what. You’re not. Everyone’s circumstances are different.

These authors are irresponsible in that they provide only basic information or a specific planning strategy or a complex manual that tries to cover everything.

These authors may be wonderful at selling books and offering false hope, but results are often the same. You’ll be no better off than you were before reading the book. 

A book will not teach you how to make independent decisions and judgment calls, or to analyze your situation correctly.

Last time, I checked, that book doesn’t exist. It’s your adviser’s job to understand your needs, and based on your unique scenario, advise you as to what’s in your best interest.

Take your time, look for a good adviser and move into the future with confidence. 

Jerry Citarella is the owner of Infinity Wealth Management www.InfinityGoals.com. 23734 Valencia Blvd., Suite 301, Valencia, (661) 255-9555, ext. 11. He is also the author of “The Truth Helps” series of financial planning books. Mr. Citarella’s column reflects his own views and not necessarily those of The Signal. Submit questions to: jcitarella@nextfinancial.com. Securities and investment advisory services offered through NEXT Financial Group Inc. Member FINRA/SIPC. Infinity Wealth Management is not an affiliate of NEXT Financial Group Inc.