Hiring A Financial Planner? 5 Good Reasons Why You Should

Your finances is something that you should always get in order. After all, much of your future and your family’s depend on the financial decisions that you make in life when you were younger. However, not all of us have the time and knowledge to get our finances right. In this case, hiring a financial planner may just be the perfect solution.

 

Hiring a financial planner is something that you alone can make a decision with. Below are some of the best reasons why you should go ahead and hire that planner:

 

You don’t have the knowledge

 

Let’s face it, even though money involves everyone, not all of us know the best ways to maximize it. Some people even get a headache with just the mere mention of the stock market, mutual funds, insurance, and the like. Plus, with all the policies, products, and latest investments available it’s highly confusing to know where exactly is the best place to put your money. Plus, when we do try to get our feet wet, a smooth talking scammer finds their way into our bank accounts.

 

Instead of having to study all these things, sometimes it’s best to let an expert take the reigns. A good financial planner will be able to guide you through your many investment choices, plus keep you in the know of what are the best investments for you and your family.

 

You don’t have the time

 

With the worsening economy many of us are working long shifts or even double hours just to keep our lifestyles. Many of us don’t have the time to make a weekly budget, much less find avenues of investment. Instead of putting the activity off, you may be better off with hiring a financial planner. Just remember that you might need to gather all your financial information for your planner to review.

 

You Experienced Changes in Your Financial Life

 

Did you just get married? Having a kid? Or sending one soon to college? These major life events can send us in a financial fret especially if we haven’t planned for them well. A financial planner can help you make sense of it all. They can also help you plan for future events so you won’t have to worry about what to do when the next major change arises.

 

You worry about your financial decisions

 

There may have been a time in your life when you went ahead and made some investments, budgeted for the years to come, and purchased some insurance policies but still you feel that there’s something missing. If you feel insecure about your investment decisions then it’s best to consult a professional who could fortify the plan that you have already set for yourself and your family.

 

You’re ready to take charge of your financial situation

 

A lot of people forego planning for their finances altogether because they believe they are “too busy”. But your finances is a major part of your life and it’s just downright silly not to take the necessary steps to secure your financial future. Hiring a financial planner is a step towards a positive direction, one where you are finally in charge of your financial situation.

 

A good financial planner will always plan with you, giving you the freedom to choose after educating you first. Just make sure to hire a competent financial planner, one who can easily explain concepts and who asks your opinion.

 

If these 5 reasons seem like you, then don’t hesitate to set up interviews with competent financial planners in your area. Be sure to choose carefully and always ask for recommendations from trusted friends and relatives who have had experience with other planners.

 

What other reasons can you think of?

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0 comments

  • Very nice post. These points are enough to give a person headache and he will surely think about financial Planner. There is a lot of work and research done by CFP which cannot be handled by everyone.
    Thanks!!

  • Yes do be careful about when hiring a financial planner. I made the mistake of just talking to an in-house financial planner at my bank. It really just seemed that he was interested in the option that earned him the most commission. I need to find one that will actually put my interests first.

  • YFS /

    You could work with a fee only planner to avoid the commission issue. But what is most important is finding someone who you trust. Try a referral from a friend.

  • I agree that hiring a financial planner is better than doing nothing at all. However, I just can't imagine handing over such a critical aspect of your family's future to someone without having a very detailed plan and strategy. Maybe to have an independent 3rd party (fee only) take a look is one thing, but my personal comfort level is that this is just too important to not understand and be active in.

  • petra /

    I have a financial planner for several of the reasons you mentioned. As my life gets more complicated, my financial situation gets more complicated as well. I appreciate the guidance my financial planner gives me, because, although I'm trying to educate myself more and more about investing, there is still a lot I need help with.

  • Hiring A Financial Planner? 5 Good Reasons Why You Should…

    Your finances is something that you should always get in order. After all, much of your future and your family’s depend on the financial decisions that you make in life when you were younger. However, not all of us have the time and knowledge to get ou…

  • I'm not against a financial planner. Although my guess is that, right now, said planner would say, "get out of debt, then call me" so that' my plan!

  • YFS /

    You are absolutely right. I suggest at least getting a free counseling session to see if a financial planner can help you achieve your goals faster.

  • YFS /

    That's the beauty of financial planners especially fee only. They can help you with an aspect of your plan or can take over everything. It's really up to you and your comfort level. Do you work with a fee only planner now? If so, why and for how long?

  • YFS /

    Great! People in all financial situations probably need some help in one area or another so a financial planner can definitely help. In your case a financial planner fill the educational gap. How long have you been working with your planner? How did you find your planner (referral or search)?

  • YFS /

    Well a planner may say that but they should structure a plan to get you out to debt. They should also provide you recommendations on refinancing high interest debt to low interest debt so you can get out of debt as much as possible. So, the simple answer is yes. The complex answer is, it depends on your goals. Did you create your own financial plan? Since, you're talking about debt, how long until you're debt free or comfortable with your debt?

  • Comfortable? Now. Finished? According to mint, end of 2014, but my goal is end of 2013.

  • YFS /

    Not bad.. You can see the light at the end of the tunnel. What is the next step after the debt is gone?

  • 🙂 … hire a financial planner?

  • YFS /

    hahaha

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