Finance Blog

Investing Tips: When to Talk to a Financial Planner

Written by Jeff Rose on May 15, 2012 in Retirement  |   1 comment

A financial planner is your partner in all steps of your financial planning, offering you investing tips and advice on a variety of money topics and retirement goals. If you need any kind of financial assistance, then the time to consult with an advisor is…

A financial planner is your partner in all steps of your financial planning, offering you investing tips and advice on a variety of money topics and retirement goals. If you need any kind of financial assistance, then the time to consult with an advisor is now.
It’s important that you do your homework on multiple advisors in your area before choosing one. Make sure you ask about all the fees a financial planner may charge before you sign a contract with him or her.

Why you might seek a financial planner

You may choose to hire a financial planner because you are seeking one or more of the following:

  • Investment advice
  • Budgeting help
  • Help with paying off debt
  • Savings assistance
  • Retirement account management
  • Advice about your mortgage or real estate investments
  • Tax preparation
  • Personal insurance guidance

The most common time to consult with a financial planner is when you are in the middle of your career, whether you are single and looking to start up an investment portfolio or you are settled with a family and need a wide range of financial advice.

While a financial advisor can help you build wealth throughout your working years, this kind of money professional is just as important to consult when you reach retirement age. Retiring usually comes with a set income, and you will likely need someone to help you manage your funds so that you don’t have to go back to work. An advisor will also help you determine when you should withdraw from your investments, as well as how much.

How can a financial planner help you?

A financial planner isn’t just there to help you with plotting your investment strategy; he or she can also assist you in determining how to pay off debt to make it easier to invest and to save your money for the future. Before getting too involved with a retirement investment strategy, a financial planner will make sure that you have a good budget and enough savings to begin investing.

Investing tip: Don’t overlook a financial planner’s services

One reason why many people skip out on professional financial advice is because they feel they can’t afford it. Retirees are especially wary of spending more money than they need to because they are on fixed incomes. However, financial advisors are worth the cost when you consider the amount of money you can save in the long term. Don’t be afraid to ask for help. You don’t have to wait until you have a lot of money to invest or are approaching retirement—it can be beneficial to consult with a financial planner at any life stage.

In the end, the best investing tip I can give for finding a financial planner is this: Shop around for quotes—and choose wisely.

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Jeff Rose is a certified financial planner and author of the blogs Good Financial Cents and Soldier of Finance.  Learn more about his Roth IRA Movement that has inspired over 140 personal finance advisors to educate young adults on the importance of saving. 

1 comment

  1. j.potter says:

    Wow I am glad to read your post its very valuable for us and the information in this post is very helpful thanks for this awesome article

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