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The value of advice - Maintenance (Part 5)

By Sam Instone - March 21, 2018

A Harvard study looking at procrastination provides the perfect introduction to the final video in our Value of Advice series.

Professors have discovered why we avoid doing the things we know we should.

It’s because we care more about our present selves than our future selves.


It’s easy to enjoy immediate benefits when the costs of our choices aren’t immediately apparent. 

But this behaviour undermines good intentions - like healthy eating, getting fit or maintaining financial discipline.

The trait’s called time inconsistency – it results in procrastinating. 

There are three ways to beat it: 

1. Make rewards of long-term behaviour more immediate.

2. Make costs of procrastination more immediate.

3. Remove procrastination triggers.

Each is easier said than done – unless you enlist help…

Like a good dietician or fitness coach, a good financial planner could give you the help you need.

A professional adviser can help you overcome procrastination, remain focused on long-term goals like saving for retirement, and:

  • Keep you on the straight and narrow,
  • Rebalance your portfolio to keep it correctly aligned to meet your goals, and
  • Help you maintain financial discipline - no matter what opportunities or challenges life presents you with.

Because the distractions you avoid define your capacity for success, you’ll likely be far wealthier as a result.

Subscribe to our YouTube channel for financial insight and discover how to increase investment returns whilst cutting investment costs without compromising efficiency or financial compliance.

Click the links below for parts 1-4:

Part 1 - Do I need a financial adviser?

Part 2 - Asset allocation

Part 3 - Cost control

Part 4 - Coaching

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