Financial advising is commonly viewed as a service for the wealthy, but the reality is, anyone can benefit from the services of a financial advisor. In fact, if you do not consider yourself wealthy, that may be even more reason to hire one! Here are a few reasons to use a financial advisor.

1 – Plan for Retirement

Although we all know that we need to save for retirement, how to do so is not always clear. With so many different options to choose from, each with varying risks and rewards, a solution that works for one person may not work for another. There are also tax implications to consider. Relying on a professional can help bring clarity to your retirement plan.

2 – Better Manage Assets

In addition to retirement savings, you may have other assets to manage. Financial planners can help identify ways to preserve and grow your assets. This includes decisions about whether to pay off mortgages or use funds for investment instead, allocation of assets based on liquidity, and strategies that take advantage of tax benefits or minimize tax liabilities.

3 – Balance Spending and Saving

One of the most basic reasons to use a financial advisor is to evaluate your spending and saving. Where is your money coming from and where is it going? Are you missing some critical ways to increase your income, reduce your expenses, or maximize your savings?

4 – Peace of Mind

Confirmation that you are on the right track and properly managing your money can be just as valuable as identifying ways to improve your finances. Financial advisors can give you peace of mind. Some would say that is priceless!

5 – Estate Planning

Financial planning and estate planning work best together. By being smart about how you manage your money, you leave behind a larger and healthier estate for your children. At Simmons and Schiavo, we work with your financial planner to achieve all of your goals.

More Reasons to Use a Financial Planner

The above are just a few reasons to use a financial planner. This is intended purely as an overview and should not be construed as financial or legal advice. For additional information, contact us to be referred to a local financial planner.

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