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Some Things Should Not Be a Do-It-Yourself Job
There are a few places in life where your 'do-it-yourself' decisions make sense and save you money. But making important long-term financial decisions might not be one of them.
Just as you would never take on a big remodeling project without the help of a contractor, you shouldn’t try to manage your finances without the help of a good financial professional. While it’s tempting to want to do the research and figure things out on your own, your decision to hire a financial professional could help you work toward your long-term goals more quickly, safely, and efficiently. Meeting with a financial professional is complimentary, and their involvement will more than pay for itself in the long run.
Here are 4 ways a good financial professional can help save you money in the long run.
1. Planning
What are your long-term financial goals? College savings for your children, saving for retirement, or insurance planning for you, your family, or your business. Regardless of what you want, it’s important to have someone to help you set specific, measurable goals and then guide you along the way. A financial professional will listen carefully, and then develop a solid financial plan that is customized for you, balancing your priorities with your unique financial situation.
2. Strategic Decision-Making
Once you’ve set your goals, do you know how to get there? Timing is everything, and a good financial professional knows this. A solid investment approach may include a mix of stocks, bonds, mutual funds and other investments. And while it’s tempting to purchase stocks when a company is doing well, that may not necessarily be the best way to make money. A financial professional will help you make better-informed decisions that are on track with your retirement goals.
3. Keeps You on Target
Markets are always changing. If managing investments is not your full-time job, it’s a good idea to hire someone who does this for a living. Your needs change over time as well. When you change jobs, get married, have a baby, buy or sell a home or get close to retirement, it’s time to make sure these life events are factored into your financial goals. A financial professional will meet with you regularly to check in and re-evaluate your situation, then make changes as needed.
4. More than Just Investing
Your personal financial health depends on much more than the stock market. A financial professional can help you manage your overall financial goals; they can help you with estate planning, charitable giving, and insurance such as life insurance or long-term care insurance. They can also help you make decisions along the way based on other life events and financial considerations specific to your unique situation.
