“Financial freedom is available to those who learn about it and work for it.” –Robert Kiyosaki
When it comes to investing, knowledge is power. Knowing where and how to invest your funds is essential to grow your dollars and build a secure financial future. Andrew Wyatt, owner of Wyatt Financial & Insurance Solutions, LLC and Wyatt Wealth Advisors, LLC, in Westlake Village, knows firsthand how smart investing can build security.
“My father was my role model,” says Andrew. “He came from poor humble beginnings and put himself through night school while he worked to support his mother and brother. After serving in the Navy, he went to law school and graduated at the top of his class. My father worked very hard, but he was savvy with investments. He owned stocks, bonds and real estate.”
Spurred by his father’s example, Andrew took an interest in investing and earned his Certified Financial Planner© designation.
“I founded Wyatt Financial & Insurance Solutions, LLC and Wyatt Wealth Advisors, LLC, to help my clients achieve financial security in their retirement,” he says, noting that his typical clients are aged 45 to 70, typically professionals or business owners, who have at least $250k of investable assets.
Here, he shares some insights and guidelines for investing.
Q. How should those new to investing get started?
A. If you are new to investing, it is best to work with a financial professional to help guide you.
Q. What are some of the best investments people can make?
A. It depends on where they are at in their life. If they are younger, I recommend investing in stocks. If they are older and getting closer to retirement, I would recommend safer investments like a fixed index annuity or fixed index universal life insurance. The choice of investments would be dependent on your risk score.
Q. Is there a general rule of thumb as to what percentage of your income should be
invested?
A. Everyone’s situation is unique. We would analyze your current situation and develop an investment plan specific to your needs.
Q. What is your advice about cryptocurrencies?
A. Cryptocurrencies are still new and unproven. Unless you want to speculate and are not afraid to lose your investment, it is best to avoid these investments.
Q. What are the most common investment mistakes?
A. The biggest mistake is when people panic and sell at the wrong time.
Q. How has investing changed over the years?
A. There are more options to invest in, making decisions more complicated.
Q. What should people be aware of when investing?
A. They need to understand all of the risks of the investment before they invest.
Entrusting your funds with a knowledgeable investor that you can trust for the long term is essential to a secure financial future, emphasizes Andrew.
“I am a fiduciary which means I put the client’s best interests before my own,” he assures. “I believe in developing long-term relationships with my clients and being their advisor for life.”
Wyatt Financial Solutions is located at 4195 East Thousand Oaks Blvd, Suite 175 in Westlake Village. Call them today at 833.777.2224 or visit WyattFinancialSolutions.com to learn more.
