Section 1: 9 Important Ages for Retirement Planning
Chapter 2: Age 35 – Get the help you need to reduce financial stress
By the time most people hit their mid-thirties, their financial situation is more complicated than it had been in the past and will likely ever be in the future. They’re juggling countless financial priorities, including paying for a home, family expenses, transportation costs, tuition bills and more. On top of all that, there’s pressure to save for retirement.
What can you do to relieve the stress in your financial life? Why not seek professional help?
After all, you:
- Turn to a doctor for medical care.
- Exercise with a trainer to get fit.
- Get help from a tax advisor to reduce your taxes.
- Hire a realtor to find and buy the perfect home.
- Work with a lawyer when you need legal advice.
So why not turn to a financial planner to help you sort out your complex financial life and manage it more effectively?
Here are nine ways a professional advisor or planner can give you the support you need to more effectively manage your financial life:
- Set priorities and build a plan to achieve all of them. Financial professionals are experienced in working with clients to understand their financial needs and goals, set priorities, build a plan to achieve them and make adjustments to that plan if goals change or the markets don’t perform as intended. This can help you find a balanced way to save for immediate goals like college while also planning for retirement. Most people feel they can sleep better at night knowing they have a clear, written plan to help them achieve their goals and a professional at their side to guide them through the process.
- Track performance and progress.
Monitoring investment performance isn’t easy and understanding whether all your different investments are meeting your long-term objectives is even more complex. A financial professional can track investment performance for you and make recommendations on how you can optimize your strategies. Most people find that paying for this service is worth it compared to trying to do it themselves.
- Protect what you value.
It’s one thing to invest money to achieve future goals. It’s equally important to protect the people and things you value. A good financial advisor or planner will recommend defensive moves and strategies along with insurance coverage that can help you protect your family, home, automobile, health and income. One of the biggest mistakes people make is focusing too much on growing their assets and too little on protecting them.
- Take advantage of tax opportunities.
Believe it or not, the government offers tax-advantaged ways for you to purchase a home, start a family, pay education costs and save for retirement. A savvy financial professional will show you how to take full advantage of them. Why waste an opportunity to use money that you’re paying in taxes to instead save for your dreams and goals?
- Keep you in the market.
If you’re a skittish investor, a financial professional can help you build an investment plan aligned with your tolerance for risk. They’re also available to help you keep your cool and not panic and sell your investments when markets fall. This is a common error inexperienced investors make.
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- Make smarter investment choices.
The number of investment options is growing all the time. The menu is complex and difficult to understand. A good financial advisor or planner will clearly explain your options to you, educate you on them and help you understand why they should — or should not — be part of your portfolio. Another plus: A savvy planner will introduce you to options you may not be aware of that could help enhance your portfolio.
- Provide a second opinion.
Is every idea you have a good one? Probably not. That’s why you turn to a stylist for advice on your hair, a sales clerk or personal shopper for clothing recommendations and a waiter for menu selections. A financial professional can serve the same purpose, offering you knowledgeable perspectives on your saving and investing strategies.
- Act as a cheerleader.
Are you more likely to stay with a fitness regimen if you work with a personal trainer or by doing it yourself? Do you have more success with losing weight if you diet with a friend or by going solo? For most people, getting support helps them achieve their fitness and weight-loss goals. The same is true of personal finance. Having a professional at your side will help you make it through tough times when it comes to saving and investing.
- Provide ideas on new strategies and opportunities when you fall behind your goals.
It’s not uncommon for people to fall behind when it comes to achieving their financial goals. A financial professional can offer recommendations on how you can catch-up. In many cases, this could include getting a second job or starting an online business. These days, starting an online business is becoming one of the most popular ways to earn extra income. Learn how easy it is to get started.
What are you waiting for? If you’re stressed out about achieving a lifetime’s worth of financial goals and dreams, including retirement, why not get some help and meet with a financial professional? While you’re at it, check out an interesting opportunity to earn extra income now and for years to come.