Posted by Income Taxes and Bookkeeping LLC

When & Why Should I Talk with a Financial Advisor?

When & Why Should I Talk with a Financial Advisor?

One way to plan financially for your future is by getting educated about wealth management and other money matters. With the right financial advice, you can create an easy plan that will withstand legislation, financial, and economic changes. 

Sometimes, you might need assistance when it comes to money management; if you need someone to advise and guide you on setting up a viable financial plan and selling you a product, you need to consult a financial advisor.


Who are Financial Advisors? 

Financial advisors are experts who advise who give advice relating to personal finances and wealth management to people. You can also refer to them as financial planners. Depending on their areas of specialization, financial planners can help you with everything that has to do with money management. Here are the highlights of what they can do for you: 

  • Set up a detailed plan that tackles your financial concerns, including tax payment, insurance, retirement, mortgage payment, etc. 

  • Help you assess your present financial status and aspirations 

  • Help you to locate the right financial vehicles, such as mortgages, insurance policies, etc. 

  • Help you in setting up an investment account and also invest on your behalf. 

  • Give advice that will help you overcome unforeseen financial issues


When and Why You Need to Consult a Financial Advisor? 

The services of a financial planner are required in certain situations like getting your first job when planning for retirement, and many more. While many people may not see the need for a financial advisor, it can be of tremendous help as it helps you plan your finances to avoid going bankrupt. You need to speak with a financial advisor if you find yourself in any of the situations explained below: 

  • When planning for retirement

One area where you need the assistance of a financial planner is retirement planning. They will give you the needed advice and assistance that will enable you to become financially stable during your retirement days. The mistake people usually make is that they do not consult them early enough. You need to start planning for your retirement at least ten years earlier; this way, you have enough time to prepare financially for your retirement. 

  • When you get a large amount of money 

Apart from boosting your financial health, receiving a large sum of money can help you secure your future financially. Unfortunately, many people do not use this opportunity judiciously as they squander the money. 

If you receive a huge amount like a golden handshake, inheritance bonus, etc., you should not hesitate to consult a financial advisor to advise on how to manage your money. In other words, talking with a financial planner will enable you to put the funds to good use. 

  • When you get employed for the first time 

Irrespective of the salary, you need to speak with a financial advisor when you land your first job. The reason is that you will get timely advice on how to start your retirement savings.  Apart from that, they will also give you an insight into how you can make most of your employer's benefits package. 

  • When you get divorced or married 

The right time to get advice from a financial advisor is when you get married or divorced. Divorces often come with huge financial losses; you can reduce this loss by going for the services of a financial planner. Also, hiring a financial advisor will enable an engaged couple to combine their income and assets without issues when they eventually get married.



Apart from providing financial advice to their clients, financial advisors can help to unravel complex tax laws. They can also help to devise viable investment plans for high-income earners. 

Financial planners are highly recommended for everyone, even if you are good at managing money. You cannot overestimate the benefits you stand to gain when you bring in a professional.



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