Financial planning expert offers advice

January 09, 2008 Joyce Owen

Anyone with financial worries, whether immediate ones – “is there enough money to make it to the end of the month” -- or long-term concerns – “is there enough to retire someday” – might consider having a financial plan.

According to the Certified Financial Planner Board of Standards, “Financial planning is the process of meeting your life goals through the proper management of your finances.”

While not everyone might consider hiring a financial planner, even those with modest means can benefit from the new book, “Personal Finance Workbook for Dummies.”

The author, Sheryl Garrett, founder of the Garrett Planning Network, is visiting South Walton this month for a book signing and presentation on financial planning. Garrett plans to discuss setting financial resolutions for 2008. She will offer ideas to find, interview and select the best financial advisor for different situations.

While working for wealth management companies, Garrett was frustrated with her inability to provide assistance to people that didn’t meet the financial criteria of those companies. She realized that while many people needed financial advice, they didn’t need and could not afford the fees charged by high-end financial management companies.

She set out to develop a different approach and discovered the solution was similar to what other professional consultants, including doctors and lawyers do, charge an hourly fee.

In 1998, she opened her hourly, fee-only financial firm offering flexibility and affordability to her clients. Her small company attracted attention from the media and other financial planners.

Local financial planner, Buz Livingston, a member of the network, said Garrett became a media darling.

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