Reasons To Hire A Financial Advisor
If you choose to be a member of modern society, then personal finance will play a practical role throughout your entire life. This includes everything from life and auto insurance coverage to savings and retirement plans for all stages of life. A competent financial advisor can provide you with the necessary basis for establishing a financial plan that matches your individual goals and desires.
Short Term Savings: Money for Now
No matter the age, most clients should consult a personal financial advisor regarding the percentage of a portfolio that should be dedicated to short-term savings. This allocation should be matched with plans and goals that fit within a 1 to 3 year time period and includes home purchase, child’s wedding or small-business launch. Regardless of the goal, a personal financial advisor can provide the necessary guidance to establish a workable plan for achieving the savings goal.
Long Term Investing: Money for the Golden Years
Retirement is not something that will somehow magically take care of itself. Despite the benefits offered by many employers, retirement planning with the help of a professional advisor can be beneficial. Supplementing a 401(K) or a pension plan can help a client reach his or her long term goals. There may be options and investments available that the advisor can share with the client to make achieving a retirement nest egg a realistic and achievable goal.
Insurance Coverage: Leaving Something Behind
Auto insurance coverage helps drivers and car owners with repairs and replacement of vehicles in the event of an accident, while life insurance provides for those who live on after the death of the insured. If the insured is the main breadwinner of the household and leaves children and a spouse behind, then a financial planner can make recommendations for types of insurance that can replace a salary and provide the necessities for moving on beyond the loss of a loved one. The right type and amount of life insurance coverage can provide clients with the funds to pay off a home mortgage, provide money for a child’s college tuition or allow a surviving spouse to live comfortably.
Finding a personal financial advisor in the Washington, D.C. area is simple and just a click away. Click here to find an advisor who can help with you financial planning.
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I’d rather call financial advisor as the CFO (Chief financial officer) of the company who plans investments and takes the company’s financial strength to the next level. CFO’s are a must for the company to plan the short term savings and long term investments strategically.
We businessman needs financial advisor, because a financial planners always advise to their clients on how best to save, invest, and grow their money. Some time to hire a financial advisor is so effective.