Why work with a Financial Advisor?

Posted March 26th, 2018

Consider the following scenarios:

- Ahhhh. You’ve worked hard all your life, been careful with your finances and are now looking forward to retirement.

- Ehhhh. You have a general sense of how your investments are performing, but could use some additional guidance.

- Panic! You haven’t been much of a saver and you're now playing catch-up.

Each of these scenarios are ideal for consulting with a financial advisor. Yet, many people don’t. Perhaps there is an underlying fear that they don’t have enough money to even qualify for speaking with a financial advisor, or that they are in such bad financial shape that it makes no sense for them to reach out to an industry expert. But no matter what your financial landscape looks like, everyone would benefit from some objective financial perspective.

So…when does it make sense to work with a financial advisor?

You have concerns you may run out of money in retirement
This is the number one concern of Americans when they discuss retirement: Do I have enough? What is my ROI? How much do I need to be saving to live the retirement I envision?

You would benefit from a structured retirement income strategy
For some people, it is better for them to have a concrete plan when it comes to their finances and future goals. This type of plan helps decide what part of your money you are going to spend first in retirement, what accounts can be left alone until later, and what [if anything] you plan to pass on to family members.

You want help investing properly for [and in] retirement
Once someone comes up with a good retirement income plan, then it’s a matter of aligning that plan with an investment strategy. It's a rookie mistake to focus on investing without a plan in place.

You want to have confidence in your financial future
People that seek out financial advisors go because they want to feel prepared and secure about the road ahead. So much of life is unknowable, but your financial future doesn't have to be.

Financial planners aren’t just for people that have money or people that already have a strong sense of their finances and retirement plan. Financial planners can also be an excellent resource for people that don’t have good sense of their finances and are lacking a plan. They offer unbiased, expert advice and can open your eyes up to tips and strategies you might not have been aware of.

You go to the doctor to ensure you are in optimal health; why not go to a financial advisor to ensure your finances are healthy, too?

Did you know DECU offers a no-cost, no-obligation consultation with our Investment Pro, Phil? We do! Drop him a note to schedule: PCruikshank@decu.com