A financial planner can help you to organize your income, expenses, and assets, and come up with a plan to meet your personal goals for the future. Whether you are just starting your first job out of college, married with school-age children, or nearing retirement, a professional can partner with you to make sure you are making the right financial decisions. The following are just a few of the services that may be helpful to you.
Assets and Savings – Your assets are all the things you own. Your house, other property, cars, collections, and savings accounts are all assets. A financial planner can help you decide if your assets are helping you or costing you. They can also make sure your savings accounts are in the best place to generate interest and security. If you have savings goals over time or want to purchase property, a professional will work with you on the path you need to take to reach those goals.
Debt Management – If you have a mortgage, a car payment, student loans, or credit card debt, an expert can help you get a handle on the best method of repayment. They can also give you guidance on steps you can take to stay out of debt as you work toward your financial goals.
College Savings – College costs continue to rise. No matter the age of your children, it will benefit you to have college savings goals. There are many programs available to help you save, and a professional can explain all the options and help you decide which is best for your situation.
Retirement Plans – Most employers offer retirement plans for their workers, but it is easy to just pick a few generic options and look at your quarterly statements once in a while. A financial planner will go a step further. They will talk with you about when you want to retire, what you want to do when you retire, and how much income you think you will need. Depending on your age and stage in life, they can help you come up with a plan that is right for you. They will also advise you when your plan needs to change based on alterations in your life and the economy.
Estate Planning – If you anticipate having significant assets upon your death, an expert can help you make decisions about the distribution of those assets, and handling all other matters of your estate.
Working with a financial planner can take some of the stress off of you individually and allow you to enjoy life rather than worrying about what to do next with your money.