Can you fill your own cavity? Can you properly represent yourself in a lawsuit? Can you set a broken bone after an accident? Of almost everyone, unless you were specifically trained and educated in these tasks after years of college, the answer is no. It is not in our skill sets. We are good at other things that we went to school to learn or were taught during our lifetime. So, why do you think that you would be best to plan your financial future without professional help? Everyone can benefit from working with a financial advisor whether it is to receive investing advice, estate planning tips, or ensure that we are properly covered by insurance products. Everyone needs helps, and you should not go it alone and navigate complicated waters when you can rely on a financial planner.
Four Benefits of Working with a Financial Advisor
Find out If you Are on the Right Track
– If you pick your own investments, are you sure that you are saving enough for your retirement goals? One of the hardest things for people to know is if they are saving enough for things like their retirement, their children college education costs, or even how much they need to save to buy a house. These are all areas where a financial advisor can help ensure that you are on the right path, saving enough, and adequately planning for your financial future.
Bounce Ideas Off Of A Financial Advisor
– Many times, my clients have come to me with an idea for an investment or an idea as to a certain route they should take with their finances. They may not be sure if it is the best possible choice, or they may simply be looking for affirmation. Having a financial planner to turn to as an independent third party is a great way to be sure that you are on the right path or as a way to point you to a better path.
A Financial Advisor Can Find Holes in Your Plan
– Do you have all of your bases covered? Are you missing a critical piece of insurance that is leaving yourself and your family exposed to lawsuits? You may not even know that you have exposure in a certain area, but employing the expertise of a financial planner can help identify places where there are gaps in your overall financial plan.
Look at Your Financial Life Holistically
– Working with a financial planner lets you step back and take a holistic look at your financial picture. It helps you have a better balanced and better-rounded financial plan that encompasses all areas of your financial life. Many financial products and investments can be combined to give you a synergy effect to your total financial plan. You could miss out on gains like these if you did not work with a financial planner.
There are many more benefits to working with a financial planner than simply letting someone pick and choose investments and other financial products on your behalf. A financial planner and his clients work hand in hand to ensure that you are on the right track, investing and saving to meet your financial goals, your assets are protect, and all of you and your family’s needs are met.
Tom Fischer is a Financial Advisor in Scottsdale, Arizona