You (probably) need a financial advisor
Financial planners are not just for the wealthy CEOs driving around (or even being driven) in their shiny, black company cars. There are different levels of advisers and you have to pick one that fits your budget. However, most of us could definitely use some help with our finances, especially when it comes to investments, retirement, down markets, even just if you receive a tax refund every year. More than likely, that includes you.
Only Pay What You Owe
When it comes to tax returns, most people only care about getting money back. A big refund could actually be the result of bad planning however, because the IRS doesn’t pay you any interest on the cash you overpay. Your hard earned money might be better off in your investment account than waiting to be returned to you at the beginning of the new year. This of course isn’t true in every single case, but a planner can help make the smartest decision with your finances.
Make Your Money Work For You
You may not want to enter the high stakes stock trade where investments turn on a dime, but chances are you have or want a diversified portfolio that helps you build up some money over time. A financial adviser can help you maximize your return, not only by helping you understand your risk tolerance and where to invest for your personal wants and needs, but also by understanding the various fees for your different investments. Not wasting money when you invest can earn you a surprising chunk of change you might otherwise lose.
Planning For The Future
Retirement. It’s a little scary to think about. You ask yourself, will there be social security or have I saved enough? It’s difficult and intimidating to plan for retirement, that’s why a financial adviser is extremely helpful and gives you some peace of mind as well. On top of providing proven strategies that online calculators just can’t match, planners can help you better predict and plan for rising healthcare and crashes in the market. Advisers are also a great help for setting up wills and trusts.
Picking the right financial planner is also important. There are questions you need to ask to make sure you’re getting exactly what you need from your partnership. How is your adviser getting paid? Will you all get along? What services does he/she actually provide? Once you have the perfect planner by your side, you can rest easy and know that you’re on the right track to financial happiness.