Douglas Andrew serves as the owner and president of Paramount Financial Services, Inc., where he has acquired ample experience and offers helpful advice about financial planning strategies and the necessity for change.
Q: As a starting point, what do you tell clients about the potential benefits of financial planning?
Douglas Andrew: The most egregious error that people make in terms of financial planning is that they fail to plan at all. Given the many new technologies and devices available on today’s market, it’s awfully tempting to spend one’s hard-earned money on a new iPad or car or trip around the world. But consumerism doesn’t pay in the long run. Instead, people should invest their money wisely in order to secure future opportunities.
Q: How can proper financial planning help me in all aspects of my life?
Douglas Andrew: By keeping your priorities straight, you will not only have the opportunity to live comfortably, but you’ll also have the opportunity to contribute to the causes and interests that matter most in your life. These could include family members, friends, charitable organizations, churches and schools, among others. Too many people work endlessly to regain their footing after a series of poor financial decisions that reverberate for years throughout their personal and professional lives. Avoid the pain of careless, short-sighted decisions and make wise choices now. If you’ve made mistakes, stop the poor patterns and make changes to correct your course.