When considering whether to get a financial advisor to help plan and achieve your long-term financial goals, it’s important to have a few things in mind. For example, what’s your budget? A digital service such as a Robo-advisor will be cheaper, while a holistic financial planning service will be more costly. You should also be clear on what advice you need before you compare financial advisers, whether tax planning, estate planning, securities, insurance, etc.
If you aren’t sure what you need or do financial advisors help, start with an online planning service before moving to more comprehensive services. According to data from Statista, 38% of Americans used financial advisors in 2021, a significant increase compared to the previous year. A poll by Northwestern Mutual echoed the same results as 26% of Americans surveyed said their most trusted source of financial advice is financial advisors. If you want to get started, search for “financial advisor ratings near me” to find some reputable advisors in your location. You don’t have to get financial planning on wall street. Call us today to book an appointment.
Did you know that only about 25% of households in America seek the help of a financial planner? No matter your income or amount of money saved, you can benefit by hiring a financial advisor.
Here are the four ways a certified financial advisor can help you manage your money:
1. Taxes: Certified financial advisors can answer any of your questions during tax season, no matter how complicated. With a certified financial advisor’s tax services, you can achieve as many tax deductions as possible, and eliminate any errors on your tax forms. They can also help you change your tax, insurance and estate planning information if you get married or have another major change in your life.
2. Investing: Understanding where to invest your money can be confusing to newcomers. Certified financial advisors are often the best investment advisors — they can help show you where to allocate your money, and how much you should invest.
3. Saving: Saving a portion of your income for retirement is more important than ever — yet research shows that only 4% of people who work from age 25 to 65 will have enough money saved by the time they retire. By working with a certified financial planner, you’ll have the strategies to save your money successfully and have a stress-free retirement.
4. Budgeting: If you’re financially struggling or just want to save your money more efficiently, a certified financial advisor can show you financial planning approaches and how to make a budget and allocate how much of your income should be spent.
Managing your finances well can be challenging — but with a certified financial advisor, you’ll be able to get the help you need in prioritizing your money. Get more here.