Your Financial Planner

November 9th, 2007 | Posted in Financial Planning

There are professionals who help individuals like you plan their financial futures. They are called Financial Planners, and you may need one! A financial planner can help you set and reach all of your financial goals – for your entire life. When it comes to money, most of us are emotionally attached to it.

However, a financial planner is much more objective and can help to guide us in the right direction. It’s like having a guardian angel.

First, a financial planner will help you create a financial statement to see where you currently stand. Then, they will help you set up a budget. Believe it or not, most of us really do need someone objective to tell us how, where, and when we should spend our money. Those who use financial planners often do better financially than those who do not use financial planners.

Before setting up a budget, the financial planner should discuss your goals with you. Do you want to purchase a house? When? Do you plan to have children? When? Do you want your children to attend college? What age do you want to retire?  All of these decisions have a financial impact on your life, and they must be planned for in advance.

With your financial goals in mind, the financial planner will work with you to set up a budget that you can live with. That budget will incorporate your financial goals. The financial planner can also advise you on investing your money to reach all of your financial goals, within the time limits that you have set.

When choosing a financial planner, look for one that has the proper degree and credentials. They should be a Certified Financial Planner (CFP), and have several years of experience. Ask about their continuing education…you want a planner that keeps up with the changing times. Talk with the financial planner before hiring them, and make sure that you feel like they are putting your best interests ahead of their own interests.

Warning! Avoid financial planners that try to sell you financial products because they are in fact, just insurance sales people.

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