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Building up the stock of wealth is one of themost important aspects of financial planning over the lifetime. A professionalfinancial planner can help you take wise, informed decisions regarding mattersrelated to investment and wealth-building. Indeed, seeking the help of anexpert financial advisor is an absolute must, considering the rather intricatenature of working mechanism of any financial economy.

Investing your savings wisely is extremelyimportant for income generation at a steady pace, and consequently,wealth-building. Everyone has a limited period of earning over his/her life,while consumption patterns are generally spread all over ones lifespan. Theincome and consumption trends need to be so arranged that there remains enoughsavings that might be used for investment purposes. This is where finding afinancial planner becomes important, since such professionals are well-equippedto help clients in growing their wealth-stock.

There are quite a number of professionalfinancial planners whose services can be hired by common investors. With theincrease in the number of financial advisors, new entrants in the financialmarkets need not wonder how to find a financial planner any longer. Finding afinancial advisor is the first step in the process of building up ones wealth.Top planners generally give his/her clients certain basic, beneficial tips.Some such recommendations are:

a)Investment: Savings need to beinvested properly in order to earn the targeted rate of return that you have inmind. A proper evaluation of ones own readiness to take risks (for a higherreturn) need also be done,

b)Choosing money marketinstruments:Investors have a wide range of financial instruments (including stocks, mutualfunds and bonds) on which (s)he can invest. Depending on the target rates ofreturn and risk-bearing tendencies of clients, a financial planner recommendsinvestment on any one (or, more) of these instruments.

c)Diversification: The financialmarkets are dynamic, with market conditions changing at a rapid pace. In such ascenario, diversification is an absolute must. It is not advisable to investall your money in a single type of financial instrument (bearing the samerisk-levels). The invested amounts should be spread wisely among differentstocks, bonds and funds,

d)Property purchase: Buying property is agood way of building wealth. You can actually be saving while making mortgagepayments, as the value of property rises simultaneously.

e)Knowledge: Professionalfinancial planners have a lot of experience of dealing in financial markets.Investors need to gain adequate knowledge about the markets from his/heradvisor. This would help them gradually develop the requisite expertise foreffective income-generation and to gradually build up wealth stocks

The last quarter of the 20thcentury has seen the USeconomy being hit by one of the worst recessions since the Great Depression.This has turned many investors pessimistic regarding the investmentopportunities that might be available. However, prudent decision-makingcapabilities ensure that opportunities to invest remain even during therecessionary phases, so that you can still prosper and build your wealth. Someof the instruments where profitable investment is possible are:

i)Gold: Investing in gold iswidely considered as a safe hedging method in a recessionary economy. However,the current rates of return need to be constantly checked,

ii)Treasury bonds: These governmentbonds have steady, fixed rates of return, and are not much affected by marketconditions. The rates of return and the prices may alter, but only in smallamounts,

iii)Online savings: As the economyenters into recession, the US Federal Reserve starts reducing the key interestrates. In such periods, the returns from online saving channels have been foundto be rather steady, and

iv)Investment innecessities and Exchange-traded funds (ETFs): The sales of necessary goodsgenerally remains steady, irrespective of market conditions. Hence, investingin necessities is an intelligent option during recession. Returns from ETFsalso hold up well during these periods.

There are other ways too in which you caneffectively grow your wealth, even during recessionary periods. As long asinvestors has a clear idea of the target rates of return (s)he wants to attainand is aware of the pros and cons of various investment channels, an expertfinancial planner can help him/her build wealth, even during a recessionaryphase.