Do you really need a financial advisor?

Investing, taxes, retirement plans, emergency funds, and your own bills can be pretty overwhelming! Sometimes you just need a helping hand. In financial terms, a financial advisor becomes your right-hand man.

What is a financial advisor?

First, we gotta understand what does a financial advisor actually do? Can you call anyone a financial advisor? Obviously not!

A financial advisor is someone who can help you with all your financial problems and planning. If you want to retire by 40 and don’t know how to start, a financial advisor might help. If you’re crippling debt, want to grow your investments, and also manage to pay your bills, then you might need one as well. It’s especially important to have a financial advisor if you have a substantial amount of assets. That will take the load off of you!

What you get

Finance could be a complex topic for some and personal finance could get a bit complicated as the economy fluctuates. So, there are a few good reasons why a financial advisor might be a good answer to all your worries.

1.     MKO: They are what they call the more knowledgeable other (MKO) which basically means that they have greater ability than you and can act as a guide for your financial concerns. They can see the bigger picture, stay up to date with market trends, investment strategies, and retirement planning options. As experts, they can provide personalized advice tailored to your specific goals and needs.

2.     Objective: Sometimes you wanna quit your job because you feel like it’s not a good fit anymore or maybe you’re just bored of it. Either way, your emotions could lead you astray, but not a financial advisor. They prioritize logic over feelings and help you make rational decisions based on facts and analysis only.

3.     Perfect planners: They draw you a financial map of your future. Like we said, they help you with everything to get you to your goals.

4.     Time-savers: Of course, they take the pressure and stress of figuring out what to do and instead give you more time to do the things you love. Or even more time to work some more and get that buck!

Verdict

Well, you don’t necessarily need one, but the pros are something you don’t want to miss if you don’t have the will to plan financially. Financial advisors could really help when you’re starting a new chapter in your life or you’re having a major lifestyle change.  The right financial advisor can make your life a whole lot easier!