I have to admit--- it sounds a bit odd to have a blog post titled here are “Top 10 Reasons to Have a Financial Advisor.”
It’s a conflict of interest!
However, I have to be honest --- having a financial advisor is NOT for everyone.
So, in the spirit of that, next week we will have a blog post titled “10 Reasons to NOT Have a Financial Advisor.”
That being said, having a financial advisor is a really great idea for many people and for many situations. Maybe having a financial advisor could be good for you.
Here are the top 10 reasons from my perspective…
Reason# 10: You’ve never done any estate planning and you don’t want to leave your kids a mess, having to pay thousands and thousands of dollars to lawyers that they’ll never see again.
Reason# 9: You’re about to inherit a big lump sum of money. It’s more than you’ve ever had in your life and you don’t want to screw it up.
Reason# 8: You’re about to sell your business (or you’re considering selling it) and you want someone to help you plan through the process.
Reason# 7: Tax laws and investing are changing so quickly. You can’t keep up with all the changes!
Reason# 6: You have many different debts and you’re confused and unsure which one to pay first.
Reason# 5: You have 5 or 10 or 15 accounts (old 401ks and retirement plans and money you inherited) and you can’t keep track of it all.
Reason# 4: You want to figure out when you could safely retire and never work again. You have no idea what you need to save to get there!
Reason# 3: You are paying a ton in taxes and want someone to help you with tax reduction planning.
Reason# 2: You have no idea where you should be putting money --- 401k or IRA, Roth or Non-Qualified. Heck, you don’t even know what some of that financial lingo means! It sounds familiar, but you’re not quite sure.
Reason# 1: You don’t understand Investing and your eyes glaze over when the topic comes up. You want a professional who does understand this stuff to help you that you can trust.
In short, we hire people when we can’t stand or don’t have the time to monitor things ourselves.
I have to confess that I am horrible at many mechanical things.
My hands start to hurt.
I get frustrated and upset.
I break some stuff.
I try to fix it and say, “Screw it! Let me hire someone.”
This is why I have a car mechanic work on my car.
It’s why I have a plumbing guy who comes and fixes our toilets and water lines. He knows how to weld and turn things and has all kinds of knowledge and experience that I am sorely lacking.
I could watch a YouTube video and figure out how to change my oil.
I could read a blog and watch numerous videos on how to patch my leaky pipes.
Instead, I’d rather just hire someone who knows what they are doing.
The hard part is finding someone to trust.
I suggest starting with reading this blog post :
There’s some really good questions you should consider asking no matter who you are working with!
If any of this rings true with you and you’d like to consider working with me and for me to consider working with you, feel free to give me a ring at (952) 831-8243.
Advisory services through Capital Advisory Group Advisory Services LLC and securities through United Planners Financial Services of America, a Limited Partnership. Member FINRA and SIPC. The Capital Advisory Group Advisory Services, LLC (CAG) and United Planners Financial Services are not affiliated.
The views expressed are those of the presenter and may not reflect the views of United Planners Financial Services. Material discussed is meant to provide general information and it is not to be construed as specific investment, tax, or legal advice. Individual needs vary & require consideration of your unique objectives & financial situation. Neither United Planners nor its financial professionals render legal or tax advice. Please consult with your accountant or tax advisor for specific guidance.