Financial Planning and You

It’s a common belief that you only need a financial planner if you’re a multimillionaire – after all, what could a planner do for you that you can’t do yourself, right?

While this might be true for some people, a professional financial expert can do much more than move your money around. Financial planners can do so much more, including:

  • Review your current financial situation
  • Help you to craft financial goals and create a plan to meet those goals
  • Help explain your savings and investment options
  • Review your progress and help to update and revise your plan as needed

So when should I seek financial planning advice?

Every person’s situation is different, so there are no blanket answers to this question. However, there are some common events or situations that could benefit from seeking the advice of a financial professional.

You’ve had a windfall or experienced a major life change

Whether you’ve won the lottery, just got married, are starting your dream career, or you’re expecting a new addition to the family, a professional financial advisor can help find the right budget, combine or separate your assets and, ultimately, get the most out of your money.

You want advice on your current financial plan or learn how to more effectively invest your money

Should you invest in a mutual fund? An IRA? How much should you be putting toward your retirement fund? A financial planner can help you to refine and update your financial goals and give you detailed information about which options can help you put your money to work for you. They can also guide you toward the people who can help you find the right insurance plans, estate planners, and other professionals who can ensure you’re financial plan is rock solid – no matter what comes up.

How do you pick a financial planner?

If you’re ready to take the next step and find a financial professional, there are several things you should keep in mind:

Review their credentialsCertifications like Certified Financial Planner™ Chartered Financial Consultant™ Personal Financial Specialist™ or Chartered Financial Analyst™ are good things to look for.

Speak with them ahead of timeWhen you’re going to be talking money with someone, it’s incredibly important that you feel comfortable with them. It’s also a good idea to compile a list of questions to ask when you meet. Include questions about their qualifications, fee structure, and if they have a minimum financial requirement.

Be preparedEven if you’re meeting with a potential financial planner for the first time, it’s important to bring all of your income and savings information and, when you meet with them later, inform them of any updates and changes to your situation.

No matter what your situation may be, it’s always a good idea to make sure that you’re getting the most out of your money. If you’re ready to speak to a financial planner, please let us know! We have a number of trusted professionals that we’d be happy to refer you to.

Just give us a call at (602) 912-0222!