If you’re looking to successfully manage your wealth and maximise the potential of your hard-earned money, visiting a financial planner is essential. An experienced financial planner will help you to organise your overall finances in a way that is tailored to you, giving you the freedom and flexibility to allocate your money where you want it. They will help you to implement relevant strategies that will assist you in meeting your goals, whether it’s getting out of credit card debt, buying your first home, or saving for retirement.
Firstly, what does a financial planner do?
To begin with, a financial planner will meet with you to evaluate your financial situation and discuss your future financial goals. By seeing where your finances are currently at and comparing it to your goals, a financial planner can begin to determine what steps you need to take to secure your finances and protect your future. They can help you to develop an in-depth plan that addresses your concerns, whether it be saving enough money to put your kids through university or distributing your wealth through estate planning. They will provide accurate, detailed advice in all areas of finance, to ensure you are well-equipped to take control of your own finances. They can also assist you in setting up investment funds and seeking out the best insurance policies, mortgages, loans and more. Read below to discover how a financial advisor could assist you in your current situation
I’m unsure how to manage my money
Managing money can be a very complex task, and it’s difficult to understand all of the ins and outs of financial management without speaking to a professional. For many young professionals, they are often extremely busy with work and other life commitments. This results in them being unable to find the time to sit down and learn how to create a budget and a financial plan for their future. Even older individuals struggle with this problem, and the process of sitting down and planning can be put off due to the amount of time it can take. Whilst many people are comfortable with creating a budget, a financial planner can apply years of experience to alter and manipulate your budget to make it as suitable and refined as possible. A financial planner can help to solve this problem, reducing the amount of time required to set up a budget and a plan. They will be able to work closely with you to create a relevant cashflow management plan, without requiring extended periods of time on your behalf.
I’m in debt
If you’ve ever been faced with any kind of debt before, you’ll understand the stress and anxiety that accompanies the unpaid fees. Sometimes, it can feel as though you’re drowning in debt, as the charges just continue to grow. This is especially common for those who are trying to save for their own financial goals whilst battling debts. If you’re experiencing crippling debt, organising some personal financial planning and analysis could be the first step you take to clearing your debts. A financial planner can remove the stress associated with your debts, taking care of the important budgeting decisions that need to be made. They can also assist you in creating a debt repayment plan that will meet your needs, whilst still allowing you to save for future financial goals. Financial advisors have dealt with many cases of debt, whether it’s minor or severe. The knowledge that they bring to their clients is unmatched, providing important tips and helpful information that a regular individual would simply be unaware of.
I’m starting a family
If you’re thinking about starting a family, it’s likely that you’ll need to adjust your current budget to account for some extra expenses. A financial advisor can meet with you to discuss your options for the future to ensure your assets are protected. They can help you to plan realistically for the costs you will be incurring, reorganise your finances and plan for any future saving goals you may have. If a family is on the cards for the future, you may also be considering combining your finances with your partner. This can be a touchy subject for those in a relationship, but a certified financial planner can help you to navigate these waters successfully. They can help you to choose which accounts to combine and which to keep separate, ensuring that you both stay on track towards your financial goals.
I want to start investing
It’s no secret that investing your finances into the stock market is a great way to steadily build your wealth and protect your future. However, many people are hesitant to invest because either they’re unaware of how the stock market works, or they’re scared of losing their money. If you can relate to this, booking a consultation with a certified financial planner can get you moving in the right direction. They can help you to develop an investment strategy that will align with your perception of risk and reward. Whether you want to make low-risk, long term investments or you’re looking at volatile stocks for short-term gains, a financial advisor can remove the stresses associated with investing and help you on your way.
I need to plan my retirement
If you’re young, a retirement plan can seem very simple. Save as much as you can through your superannuation and accumulate as much money as you can. As you get older, you may begin to realise that your retirement needs some additional planning to make it work for your situation. A financial planner has the relevant experience to help you make retirement decisions that you would otherwise not have considered. As considerations grow, you may need the assistance of a financial planner to help you navigate the complexities of retirement. Financial advisors are highly skilled in retirement planning, and have the knowledge required to assess your situation and plan where to invest your money. Having plans in place will give you a clear picture of where you will invest your money and how long it will take for you to reach your ideal retirement.
If you still have questions surrounding your finances, financial planning, or general financial advice, contact the professionals at StrategyOne Advice Network. With years of experience in financial planning and analysis, our financial advisors in Chatswood have the ability to help you get your finances in order no matter what your situation. If you are looking for financial advice on Sydney’s North Shore, please book an exploration session today!