You have probably already asked yourself at one point or another in your life whether or not you need a financial advisor. After all, there’s a lot of conflicting information about whether hiring a professional to help with your finances is a good idea.
On the one hand, you have financial advisors who will tell you that their services are absolutely essential if you want to get your finances in order. On the other hand, you may have heard personal finance experts claim that you don’t need an advisor as long as you’re willing to do the work yourself.
So, who should you believe?
The truth is that there’s no such thing as a one-size-fits-all answer to this question. It depends on your circumstances.
Ask yourself these questions to see for yourself if you need the help of one of the best financial advisors in your area:
Has My Situation in Life Changed Recently?
If you’re like most people, you probably don’t think about your finances on a daily basis. But certain life events can trigger a need for financial advice.
If you’ve experienced a huge life event like getting married, having a baby, or starting a business, you may need to re-evaluate your financial situation and goals. A financial advisor can help you create a plan to reach your new goals.
How Have My Finances Changed in the Past Year or So?
Your financial situation may change significantly from year to year. Maybe you get a raise at work or have a baby and start incurring new expenses. Perhaps you pay off a debt or inherit money from a relative.
These changes can significantly impact your financial picture, which may mean that you must re-evaluate your need for a financial advisor.
Do I Have Enough Knowledge to Handle the Ups and Downs That Come with Investing?
When it comes to investing, there is a lot of information out there. And, with the internet, it’s easier than ever to access. But, just because you can access information doesn’t mean you know to properly handle your investments.
If you’re uncertain if you have enough knowledge to handle the ups and downs that come with investing, having the guidance of a financial advisor makes sense.
Have I Prepared for My Retirement?
As you approach retirement, you may wonder if you need a financial advisor. After all, retirement planning is a complex process, and you want to ensure you have all your bases covered.
If you haven’t begun saving for your future after you stop working, or if you’re behind on your savings goals, then you definitely need to seek professional help.
Am I Happy with My Current Financial Health?
If you’re not happy with your current financial health, it might be time to seek out the help of a financial advisor. A financial advisor can help you develop a budget, save money, and make intelligent investment decisions.
If you have debt, a financial advisor can help you develop a plan to pay it off. They can also help you find the most effective ways to save money to pay off your debt faster.
Conclusion
Depending on how you answer the questions shared above, you might find that you need to seek the help of a money coach. It might be so you can get out of debt, handle your current finances better, start investing, or prepare for the future. Whatever your reason may be, know that a reputable financial advisor should be able to help you achieve your financial goals.
New Wave Financial Planning offers reliable financial services on the Gold Coast from a seasoned advisor. Schedule your appointment with our financial advisor today and get closer to better financial health!
