5 Reaons to Hire a Financial Planner

Let me show you 5 reasons why a financial planner would benefit you as an individual within 10 years of retirement:

1. Financial Planners Create Forced Accountability

One of life’s most useful tools is accountability.

We all have hectic schedules and never-ending to-do lists.

It’s only realistic to expect tasks to be pushed down the list several times before being completed, if ever.

Having a financial planner ensures key things get done. Having a plan with immovable priorities that you discuss regularly better ensures your tasks are completed.

It’s great to know what to do, but it’s only half the battle. Getting things done by checking the to-do list with your financial planning partner better assures success.

Getting everything done yearly is a game changer for your financial life.

2. Financial Planners Can Help Alleviate Stress Around Money

48% of U.S. adults experience “high” or “moderate” levels of anxiety around their level of savings.

Much of this stress comes from people just winging it. They have no clue if they are saving enough or too much. Let alone if they are saving in the right accounts or investments.

Hiring a financial planner takes the guesswork out of saving.

No one knows the future, but with certain assumptions your planning partner can help you understand what you need to be doing to give yourself the highest probability of success in the future.

Annual updates can also adjust your planning for life’s curve balls.

3. Financial Planners Are Your Unbiased Sounding Board

In every area of your life, having a sounding board is extremely important.

It’s a role your parents played for you growing up and it’s the role your financial planner can have with your money:

• Should you pay off your mortgage, consider downsizing?
• Should you retire or work a bit longer?
• Should you adjust your investments when you retire or before?
• How are your taxes going to change and what should you consider?

These are all big decisions that become emotional. Retirement is not without fear.

And we all know how hard it is to make sound decisions when emotions are high.

A financial partner can help take the emotion out of the decision making by modeling your future.

4. Financial Planners Free Up Your Time

Your personal finances are a 24/7 job.

You are always spending, saving, investing, paying off debt, planning for the future, etc.

All while the market, taxes, legislation, and your life changes.

Financial planners stay up to date on all this stuff while also taking everyday tasks off your plate.

This allows you to spend more time on the things you care about.

5. Financial Planners Are The Second Set Of Eyes On Your Money

We all have our own biases and blind spots that can impact the problems we see and the solutions we prefer.

Hiring a financial planner puts a second set of eyes on what you are doing.

You have no idea what blind spots you have or what you are just not seeing or thinking about.

Your financial planner can help you avoid mistakes that could be made by having these biases and blind spots.

Avoiding 2-3 big mistakes over your lifetime can be the difference of tens of thousands of dollars.

There are many more than 5 reasons to hire a financial planner, but these are the top 5 I see for the people I work with.

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