4 Reasons To Use a Financial Planner
Financial planning is a task many people think they can do on their own. However, hiring a qualified financial planner can help you maximize your finances and improve your financial security and quality of life. Consider these four reasons to use a financial planner.
Better Chance of a Comfortable Retirement
Planning for retirement is one of the most critical aspects of any money management strategy. A financial planner such as Hartsfield in Bristol or the team at Summitry, can help you determine how much money you need to save for retirement, how to make up for a late start on retirement savings and advise you on how to adjust your investment portfolio as you get closer to retirement.
A study by John Hancock found that 70% of people who work with a financial planner are able to successfully hit their retirement savings goals, while only a third of those who do not can claim the same. Working with a financial planner can be the difference between a comfortable retirement and a scramble to make ends meet.
Financial Planners Are Impartial
It can sometimes be difficult for people to make logical decisions about their money. You know it would be smarter to put that Christmas bonus in your retirement plan than to take an expensive trip or buy a new car, but you just cannot resist the urge. Or, perhaps a sudden dip in the stock market caused you to panic and sell when it would have been better to wait it out. Professionals are not emotionally invested in how you spend your money and can make decisions based on their knowledge and expertise, rather than on fear or instant gratification.
Financial Planners Can Do More Than Help You Plan Your Retirement
Planning for retirement is important, but that is not the only thing a financial planner can help you do. They can help you save on your tax bill, do your estate planning, plan for the possibility of long-term care needs and help you come up with spending strategies to best utilize your funds.
They Can Save You Time and Stress
Making smart financial decisions requires research and careful analysis. Most working people do not have the extra time to carefully research and analyze their financial options. Financial planners have the education and expertise to confidently make smart decisions about your money. It is their job to stay on top of financial trends, tax laws, and other factors that could affect your investment strategy. Allowing a professional to handle this task for you frees you up to do more enjoyable things and removes the stress of making decisions that you may not feel qualified to make about your money.
Hiring a financial planner is a smart investment that can save you time, lower your stress levels and give you a better chance of being prepared for day-to-day financial decisions and your long-term financial needs. The sooner you begin working with a professional, the more benefits you can reap from their services over your lifetime.
