Do you need a financial advisor? This might seem like a complicated question to answer. After all, your financial circumstances are quite likely complicated in their own right. When you first started working, you possibly just had a checking account and simple paycheck. You made sure you had food in the fridge, gas in the tank, and enough money to pay the rent. With luck, you had enough cash for a fun weekend and that’s as far as you looked.
Things change as you move further into your working years, and it doesn’t take long for things to get complicated. Homeownership, or the desire for it, can make things very complex. So too can getting married and starting a family. The number of possible scenarios and situations that make your finances more than you can personally get your head around is quite numerous, and that can happen before you even start dealing with taxes.
Everyone in the country has to deal with federal taxes at least once a year. Depending on how you make money or even save or invest it, you might have to deal with things quarterly on top of that. State taxes vary from one state to the next, and sometimes, you might have to figure out things involving municipal or county taxes as well. What side of a property line you live on might determine whether your property tax rate is 8% or 10%, and if your home is worth six digits, every percentage point matters to the tune of thousands of dollars.
A financial advisor, at a minimum, can ease your headaches and streamline all that you have to take care of. While most every advisor will have charges, rates, or fees, finding the right one can mean saving far more than you spend on them. Sometimes, they’ll even help you earn more.
For instance, you might know you’re supposed to have six to nine months of minimum living
expenses saved up in a checking account. What if you’ve done this but actually saved past that and just weren’t sure where to invest it? A financial advisor can figure out how risk-adverse you are and point you in the direction of investments that match your willingness.
On top of that, he or she can also help you get past your current clutter and stress and start looking out for your goals and ambitions down the line. Do you want to own a home eventually or a better one? What about putting someone through college? Financing things like retirement or dream trips can be done over time, but you need a robust plan in place. Guess who can help you with that.
While financial advisors, such as those working at Vitale and Associates, can be of tremendous benefit to you, it’s not absolutely necessary for you to have one. If you’re married or splitting finances with a partner, the other person might be the one that handles the majority of the details about both of your money. It’s very common in a relationship for one person to take charge on this issue, and as long as you’re happy with what he or she is doing, it’s best not to rock the boat.
However, if you do want professional assistance and advice, find out who in your area provides such services. Reputable ones will layout the kinds of financial advice they can provide you with so you can figure out who might align with your plans, dreams, and ambitions. Protect yourself by working only with those that commit to your confidentiality and are willing to do a free consultation, be it online, over the phone, or in person.