These are great questions. As to the first, the reality is if you are managing your own budget, saving for the future, figuring out your benefits at work, planning out major purchases, investing on your own, choosing your funds in your 401(k), or something similar, you are already doing financial planning. Financial planning is likely to happen whether we call it this or not. Most everyone I wager usually starts out on their own with self-planning out their finances and just naturally growing their skill and expertise from there. Over time, life gets more complicated and you either go on a self-learning expedition or decide it is not your strong suit or passion and seek help from others.
So, speaking of this, and for the secondary title of this article, do we need to hire a financial planner or advisor? If you are a do-it-yourself kind of person like me, you might take on this task on your own. I have to pause here and interject that as a professional advisor myself, if I had known then what I know today, I would have sought out someone's advice much sooner, for a number of reasons. However, if you are not wired in this way, then it may be worth a look at hiring someone to help you out. Either way, in order to judge rightly on certain topics and what we should do in particular circumstances, it may be wise to seek out some kind of counsel, whether this is a professional in the field or a trusted family member. In the engineering world, whenever we develop a design, we call in others to look it over. This is called a peer review. How it works is you ask someone to take a look at your work, because a) we know we don't know everything, and b) the other person is going to see things from a different perspective and find things we cannot. As the author of the work, sometimes you get too close to the work to see the flaws or risks that may be completely obvious to someone else. The final result is that the end product is going to be much better than what you could have figured out on your own.
Back in the financial planning world, there are studies out there that show how having an advisor can add tangible value through their expertise - skills such as portfolio construction, asset allocation, rebalancing, behavioral coaching and creative spending strategies, to mention a few. And an advisor can help with the discovery of gaps and risks in your planning (that peer review we mentioned earlier); to coach someone toward sound thought processes and decision making; or to simply provide affirmation and encouragement of where things are going! Sometimes we may already be on a good path and feel like we want to make major adjustments without needing to.
Come talk to us for free and find out more details on what we do. We're happy to have a phone call or online meeting to allow you to just ask questions and discover how we can help and be a service to you. You can also chat with us via Text (256-680-3775), Facebook, or LinkedIn. If you're up for it, you can schedule a virtual or in-person meeting today using the link below https://outlook.office365.com/owa/calendar/moneypatterninspireadvisorscom@inspireinvesting.com/bookings/s/XmCZWndTgUaVv04Yjp9VhA2
In the meantime, browse the site and get to know us better! We are excited you are here.
Komentar