Top 7 Reasons Why You Should Engage A Financial Planner

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Top 7 Reasons Why You Should Engage A Financial Planner

Have you thought about speaking with a financial planner?

There may be more benefits to doing so than you think. Engaging a financial planner for tailored advice can be one of the best decisions people can make in life. 

Unfortunately, many of us only think about our financial well-being when it’s already too late. 

Many people in their 50s engage the services of a financial planner when they look for retirement plans, but by that time they’ve missed out on valuable opportunities. Most of them hear this inevitable result: based on your current finances and income, you need to work until your late-70s. 

Is this the outcome you want?

If you’re ready to own your financial future and make positive changes today, here are 7 compelling reasons why you need a financial planner. These are the top 7 reasons why you should engage a financial planner.

1 – An Objective View

Emotions can cloud your judgement when making financial decisions. 

Many people turn to friends or family members for advice on the latest and best investment ideas. When looking for any type of financial advice, remember that what is good for one person might not be good for you. 

Your goals should always remain objectively targeted.

With financial planners, you have an expert who will take their time to listen and discuss your objectives and goals and then help tailor a solution that is ideal for your needs. 

The job of a financial planner is to help you gauge your financial stability and then coach you on how to develop a solid plan to meet your long-term goals.

2 – Save Time and Effort 

If you have time to do the required research on all available options for your unique financial situation and determine the best way forward, then you’ve got a ton of spare time. 

Financial-planning experts will not only recommend the best financial solutions for you, but they will also help implement and monitor the plan you have chosen. This shared focus can enable you to meet your long-term goals and dreams.

3 – Assistance In Making Important Financial Decisions

Many of us are exceptional at procrastinating on important life decisions, particularly those pertaining to our financial well-being. We are usually too scared to make financial decisions especially because we do not have all the information we think we need to make a solid decision. 

With a financial planner, you will learn all the available options and the pros and cons attached to each of them.

4 – Safeguard Your Family’s Future

An unfortunate fact of life is that we all grow old, with many of us developing illnesses. 

Although you can’t avoid ageing and the issues that come with it, a financial planner can put a plan in place that will assist your loved ones should anything happen to you. 

While it is important to ensure that you grow your financial assets, it is also important to protect the financial security of those you are close to. You wouldn’t want your family paying off your debts along with their own. 

5 – Save Money

At every stage of your working life, you should strive to manage your cash flow responsibly. 

Do you have a clear picture of how much money goes into your bank account and the amount you withdraw each month? 

A financial planning expert can help you develop a great budget plan, and put systems in place that will maximise your savings over time. Remember that if you do not have savings, it is impossible to achieve any financial goals later in life.

6 – Adapt To Expected & Unexpected Events

Life is often unpredictable and is filled with both expected and unexpected events. While it’s impossible to predict exactly how your life will go, you can prepare for both the good and the bad of life before you’re taken by surprise. 

Major life events may include:

  • Going through a career change
  • Getting a pay raise
  • Redundancy
  • Taking time off to travel around the world
  • Buying your first home
  • Birth of a child
  • Increasing the size of your home
  • Receiving an inheritance
  • Getting a divorce
  • Retiring
  • Going into an aged-care home
  • Passing of a loved one

You can plan for most of these life events before they occur. 

A financial planning expert can create your financial plan in such a way that none of these events will leave you stressed or financially drained.

7 – Grow Your Wealth

What would be your ideal investment? 

  • Property? 
  • Shares? 
  • A new business? 

Starting a business can be very tricky, with 1 in 5 businesses failing within 12 months. The financial experts at Max Funding say, “you need to know whether you have to borrow money to get it started or you have the funds to bootstrap it.”

When you engage financial planners, they will guide you through a range of ideal investment choices. Not only will they offer sound investment advice, but they will also meet with you on a regular basis to discuss how your current investments are performing and what your next investment could be.

Failing to plan is planning to fail. 

A financial planner can be a very valuable asset as long as there is clear and regular communication between you and your chosen financial-planning professional.

 

Sarah Miller

Sarah writes about her personal journey, learning, life optimisation and her passions. For more thoughts and ideas, you can connect with Sarah on Twitter

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