A financial planner is someone who provides clear, unbiased advice on your financial situation, offering guidance to help build wealth effectively. Hiring a financial planner is not usually on people’s mind. Often, people assume only those with a high income or great net worth have use for a financial planner. However, a good financial planner will add value to your financial picture—the same way a good doctor adds value to your health.
The following are a few different scenarios where hiring a financial planner could be of great benefit:
When you start a career.
When starting a career, you face decisions like picking out workplace benefits, 401k options, paying off student loans, or saving for future large purchases, like a house or car. These are some of the most important decisions you will ever make. Having a financial planner to guide you through them—with no hidden agenda—can help set you up correctly for the rest of your life.
When you get married or have kids.
When you get married or have kids, life changes. Reviewing your financial game plan and making adjustments is important. A good financial planner will make sure you are efficient with your taxes, have the correct insurance for your family, the right type of retirement accounts, and help you maximize cash flow. Your planner will also ensure you have a strategy to save for your children’s future expenses.
When you own a business.
Business owners have many unique financial circumstances. A good financial planner will work to create a plan to minimize taxes and maximize income and savings. A financial planner who deals with business owners should be well versed in retirement accounts specific for businesses, and should work together with your CPA. This Adviser/CPA team will provide peace of mind so you can focus on your business.
When you are approaching retirement.
When you are approaching retirement, uncalculated decisions could drastically impact your quality of life. You have to consider the right Medicare plan, the best way to access your retirement plans for income, filing for social security, and taxes. Even if you don’t have a huge nest egg, a financial planner can guide you through these essential questions and save you thousands of dollars throughout your retirement. If you have accumulated wealth during your working years, a good advisor can guide you through the process of legacy planning, so your wealth can last through generations and provide for your loved ones.
At Stewardship, we would be honored to serve you in financial planning, and we offer it in three simple solutions. If you would like to learn more, visit this page here, or fill out the form below.
Jeremy Sharp is the Director of Financial Planning at Stewardship Financial. Jeremy loves helping people figure out ways to organize their financial life and make better decisions with their money. Jeremy and his wife have two boys and is an avid fan of New England sports.