When you hear about financial planners, you naturally assume there’s big money involved. The truth is you don’t need to be wealthy to use the services of a good financial planner. A good financial planner can make you money, or enable you to keep the money you have longer. So, when does it make sense to hire a financial planner? Here are a few examples of when a financial planner can come into play.
When you are getting close to retirement. If you’re getting close to retirement, there are a few questions that you should have answered. Things having to do with Social Security and when you should file, or when and how to withdraw from retirement accounts in order to make the money last longer. These are questions a financial planner can answer.
What if you just got married and are starting a family. There’s no better time to get financial advice than when you’re first starting your family. A good financial planner can help you plan for the future and prioritize all the responsibilities that come with a growing family so that you can create a secure and enjoyable life for your family both today and in the future.
If you’re self-employed there are a lot of things that you will need help with, including your finances. A financial planner who specializes in working with self-employed people will have a deep understanding of all the issues faced by the self-employed and will have better planning strategies for you. Not only will a financial planner help you personally, but will also help your business to be more successful.
If you’re fortunate enough to be a high earner then there is a need for a financial planner to protect what you’ve worked hard to earn, and make that money work for you. There is also the tax code to work with, which can be complicated. A good financial planner can help you navigate through that.
Not everyone needs a financial planner, but knowing when one can help is a good thing.