What is a Private Economist?

A private economist provides clients (private individuals, entities, and institutions) with economic analysis and recommendations based on forecasting models to help their employers make informed decisions and gain a competitive advantage about investments, financial planning strategies, and market trends.

Key Responsibilities and Duties:

• Analyzing Market Trends: Identifying patterns and changes in markets to inform strategic financial decisions. 

• Economic Forecasting: Predicting economic conditions and their impact on a client’s performance: short, medium, & long-term. 

• Strategic Advice: Recommending financial strategies and business plans based on economic analysis. 

• Industry-Specific Expertise: Developing deep knowledge of the economic factors that drive specific industries. 

• Research and Analysis: Gathering and analyzing data, including market research, industry reports, and statistical information. 

• Communication: Communicating economic concepts and insights to both technical and non-technical audiences. 

• Investment Analyst: Analyzing market trends and forecasting conditions to advise on investments. 

• Consulting Economist: Providing industry-specific analysis and developing economic models for clients. 

• Healthcare Economist: Evaluating the economic impact of disability and long term care life events. 

• Technology Economist: Forecasting the economic impact of technological innovations and analyzing competitive landscapes. 

• Specialty Real Estate Valuation Expert: Conducting complex property valuations for various purposes, including litigation.

Education and Skills:

• An advanced degree (Master's or Ph.D.) in economics is often required. 

• Strong analytical and research skills are essential. 

• Knowledge of econometrics and statistics is valuable. 

• Excellent communication and presentation skills are needed to convey economic insights to others. 

• Familiarity with financial modeling and other relevant tools is also helpful.
  

What is a Personal Financial Advocate?

A personal financial advocate is a professional or trusted individual who assists you in managing your finances and achieving your financial goals.  By partnering with a personal financial advocate, you can gain the knowledge, guidance, and support needed to achieve your financial objectives and build a more secure financial future. Here's a breakdown of what they do:

1. Understanding Your Financial Situation:

• They assess your current financial standing, including income, expenses, assets, and debts.

• They help you clarify your financial goals, whether it's retirement planning, saving for a down payment on a house, or paying off debt. 

2. Creating a Financial Plan:

• Based on your goals and financial situation, they help you develop a personalized financial plan.

• This plan can include budgeting strategies, investment recommendations, debt management techniques, and strategies for achieving specific financial milestones. 

3. Implementing the Plan:

• They guide you in implementing the financial plan, helping you make informed decisions about spending, saving, and investing.

• They can assist with tasks like setting up bank accounts, creating a budget, and exploring investment options. 

4. Monitoring and Adjusting:

• They regularly review your financial progress and help you make necessary adjustments to your plan.

• Life changes, like job changes, marriage, or children, may require adjustments to your financial plan, and they can help you navigate these transitions. 

5. Advocacy and Support:

• They act as your advocate, representing your interests and helping you navigate the complexities of the financial world.

• This can involve negotiating loans with creditors, communicating with financial institutions, and helping you access available resources and support. 

In essence, a personal financial advocate is a partner who helps you:

• Gain control of your finances.

• Make informed financial decisions.

• Achieve your financial goals.

• Navigate financial challenges.
  

Who would benefit from meeting with a Private Economist?

1. Individuals with Complex Financial Situations:

• High-net-worth individuals: Those with substantial assets may need assistance with complex investment strategies, tax planning, and estate planning.

• Small business owners: Navigating business finances, cash flow management, and retirement planning can be challenging for small business owners, making professional guidance valuable.

• Individuals with multiple sources of income or investments: Managing diverse financial streams and investment portfolios can be complex, and professional advice can help optimize these areas. 

2. Individuals Facing Major Life Transitions:

• Starting a family: New parents may need help with budgeting, saving for education, and managing increased expenses.

• Buying a home: A financial advisor can assist with navigating the complexities of mortgages, down payments, and budgeting for homeownership.

• Changing careers or experiencing a significant income change: Professional guidance can help individuals adjust their financial plans and strategies to align with new circumstances.

• Preparing for retirement: Retirement planning involves complex considerations such as estimating expenses, choosing appropriate retirement accounts, and managing investments for long-term income.

• Dealing with an inheritance or other financial windfall: A financial advisor can help individuals make informed decisions about managing and investing inherited assets.

• Experiencing divorce or separation: Navigating the financial implications of divorce, including asset division and spousal support, can be complex and emotional, making professional advice essential. 

3. Individuals Seeking to Improve Their Financial Well-being:

• Those with unclear financial goals: A financial advisor can help individuals define their financial goals and develop a roadmap to achieve them.

• Individuals struggling with student loans and other debt management: Professionals can assist with creating student loan, and other debt, repayment strategies and improving overall financial strength.

• Those lacking financial knowledge or experience: A financial advisor can educate and guide individuals through various aspects of personal finance, including budgeting, saving, and investing.

• Individuals seeking objective financial advice: Professionals can provide unbiased recommendations tailored to an individual's specific needs and goals. 

4. Anyone Seeking Peace of Mind and Financial Security:

• Having a financial plan in place can reduce stress and anxiety associated with money management.

• Working with an advisor can provide confidence in making informed financial decisions.

• Professional guidance can help individuals protect their assets and build long-term financial security. 

In essence, anyone who feels overwhelmed, uncertain, or lacking in expertise when it comes to managing their finances can benefit from a professional financial advocate. 

Anyone interested in protecting themselves and their realities from calamity; Anyone interested in accumulating greater wealth and positioning those assets to minimize tax treatments and maximize net cash flow during retirement; Business owners interested in investing in deferred compensation employee retention plans to protect their greatest investments of time and resources; and countless others would benefit from discussing their vision of their future with a professional financial advocate..

Do I need a Private Economist’s help and guidance?

Yes! You need professional help with your finances. Optimal is not a destination reached by accident often. You work too hard not to optimize your potential wealth building results. You wouldn’t operate on yourself and you wouldn’t try to represent yourself legally, if you could afford professional services. Treat your journey of wealth accumulation with the same respect. Speaking of, treat your vision of the American Dream with the same respect you give your cell phone or your car: You must have a financial professional stress test your life and demonstrate your exposure to various risks and calamities. You owe it to yourself not to end up disabled and broke or elderly and broke.