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7 Reasons to Consult With a Financial Planner

by Rohan Mathew
7 Reasons to Consult With a Financial Planner

Most Americans are in a very poor state of financial health. According to a recent survey, most Americans do not have the funds to cover a $1000 emergency.

This is not a sustainable situation. Thankfully, you don’t have to live like this. A financial planner can improve your financial situation by giving you essential advice that will stand you in good stead for the future.

Yet what is it that financial planners actually do? How do they help you when it comes to planning your future? 

In this guide, we’re going to look at how their expert help can give your finances the boost that they need. Financial worries are one of the top causes of stress. Read on and learn how an advisor can help mitigate them.

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1. A Financial Planner Saves Time

Time is money but it’s much more than that, too. When you spend ages online scrounging around for financial information that can help you, you’re not working, nor are you spending time with your family and friends.

When you hire a financial planner, you’re hiring their expertise as much as anything else. They don’t need to dig around for information online: they know it all already. 

This means that they can cut right to the chase and give you the best advice for you and your situation. If they do need to dig around for more information about your situation, then you can give them what you need and then just sit back, letting them deal with everything.

This means that you get to spend more time doing what you love, rather than analyzing your finances.

2. You Can Be Sure of Accurate Advice

A financial planner’s knowledge extends far beyond the layman’s. This means that if you plan for your own future, you may miss out on ways to maximize your savings or may make poor investments that end up causing more trouble down the line.

When you hire a financial advisor, you can be assured that the advice they’re giving you is accurate and likely to result in financial prosperity. While there’s no such thing as a completely risk-free financial plan, one that a planner makes for you will likely be far better than one you make yourself.

3. You Can Better Define Your Goals

You may have a decent idea of the goals that you want to achieve but when it comes to finances, specificity is key. This can be very hard to achieve for the layperson, as you may not know what a good rate of growth is for your savings or be able to set realistic targets.

When you use a financial planner, your goals can get a lot more specific. They’ll know the growth rate for different kinds of investments and savings accounts, and, with this knowledge, they can help you set specific and achievable goals for your future.

Through this kind of expert financial planning, your future becomes far less uncertain, which can greatly reduce your stress levels.

4. Access to More Investments

Whatever the investment apps say, you don’t get access to every fund through a simple app on your phone. Many investment funds are only available to people in the know through a personal connection.

As you lack these connections, you won’t be able to access funds like this. However, a financial planner will be able to tell you about them and help you make these investments.

5. Help With Tax Planning

For many people, tax season hits like a truck. Suddenly you need to rush around and do all this paperwork, scrounging together your financial records and then worrying about whether you filled in the forms correctly.

Tax planning is a financial advisor’s bread and butter. They know what you need to do during tax season and also know how you can make savings on your tax bill thanks to legal but complex strategies. Trying these strategies on your own would likely result in serious consequences: doing it with a planner can give you peace of mind as well as more cash in your pocket.

6. Increased Accountability

The hard truth is that meeting your financial goals often come down to you. If you don’t have anyone helping you, it can be easy to stop being accountable to yourself, then wondering where all of your money went.

When you bring a third party on board, specifically an expert third party, you get instant accountability. If you go to meet your financial planner and you haven’t been following their advice, they’ll ask you why. This accountability makes you far more likely to actually follow their advice so that you aren’t embarrassed when you go to meet them.

7. Less Financial Stress

Money is very stressful. Not knowing how much money you’ll have when you retire, start a family, or pass away can lead to some serious worries about the future. When you hire a financial planner, a lot of this stress will melt away.

You’ll have a much better idea of your financial future, which can take a lot of the stress away from the here and now, letting you enjoy life more. This is perhaps the best thing about hiring a financial advisor: you can start to enjoy your life more right away.

A Financial Planner Can Improve Your Life

Hiring a financial planner helps you with every aspect of your finances. No matter what your plans are for the future, they can help you hit your goals and feel a lot more relaxed about the state of your finances. If you’re worried about your future, you should consider hiring one.

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