3 reasons to work with a financial planner
1. You don’t feel comfortable putting together a plan
You may not have the time, interest or knowledge to create a financial planFinancial plan Your financial plan should cover every aspect of your finances: saving and investing, paying down debt, insurance, taxes, retirement planning and estate planning.+ read full definition. For example, you may not know how to plan for your retirement or how to improve your taxTax A fee the government charges on income, property, and sales. The money goes to finance government programs and other costs.+ read full definition situation. Financial planners can help you look at the big picture and put your finances in order.
2. You need help understanding and choosing investments
How do you choose investments that will help you reach your financial goals? A financial plannerFinancial planner An individual who looks at your financial situation and builds a complete plan to help you reach your goals. The process may cover: financial planning, risk management, investment planning, tax planning, retirement planning, and estate planning.+ read full definition can help you develop an investment strategy to fit your goals and your comfort level with risk.
3. Your life has changed and you need help updating your plan
When your life changes, consider how the change affects your plan. You might get a pay raise and need to update your plan to decide what to do with the extra money. Will you save it, spend it or pay down debtDebt Money that you have borrowed. You must repay the loan, with interest, by a set date.+ read full definition? How will your financial goals change if you get married, start a family, get divorced or approach retirement?
A financial planner can help you adjust your plan as your life changes. They can also help you set priorities if you have goals that conflict.
3 key points
A financial planner can help you:
- Put together a plan
- Understand and choose investments
- Update your plan as your life changes