Special Times You Should Consult with a Certified Financial Planner

Special Times You Should Consult with a Certified Financial Planner

Do it yourself money management has become very common in recent years. Nowadays, it is not hard for an individual to make a budget, pay their taxes or even how to invest for retirement, thanks to financial tools for planning such as Quicken, Betterment and TurboTax. But still there are some situations where it is considered a smart idea to hire a financial advisor.

What is a financial advisor

A financial advisor is a professional who is trained to work with client and provide expert management in several areas such as taxes, retirement, and investing. While almost anyone can call themselves a financial advisor, professional designations such as certified financial planner or chartered financial consultant, specifies an advisor has reached a higher competency level.

Why a professional

An advisor who is qualified will listen to your goals, inspect your current finances and give you advise on plans to minimize your taxes, maximize your savings or reduce your debts quickly. Many planners do not even charge for an initial consultation. But, some do charge an hourly rate of $100 to $200 to develop a financial plan or to simply discuss a specific financial topic. So, you do not need to use one all the time.

No need for ongoing basis

While you do not need to work with a planner on a regular basis, there are nine times when it does make sense to stop in for some advice financially. These include:

  • When you get your very first job with benefits;
  • When you get married or divorced;
  • When your spouse dies;
  • When you receive a large sum of cash such as an inheritance, bonus, buyout or large raise;
  • When you have aging parents to take care of;
  • When you have children;
  • When you want to pass on your wealth you will need to know how to write this into your will;
  • When you are considering retirement;
  • When you are worth a quarter of a million.

9 Times

These are the nine times where it will pay off to get advice from a financial advisor. He or she will give you advice about what you should do at each of these stages in your life. And how will you gain in your wealth instead of losing anything.

If you live in Tampa Florida, financial advisor Tampa is a good firm to consult with.

Category Finance