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Although there are plenty of empowering ways that Americans can take their money matters into their own hands and turn them around, sometimes there is no better substitute than professional intervention. If your money woes are advanced and your cash problems seemingly permanent, it might just be time to call in the pros.
Confused about finances?
Likewise, if you are just totally confused about what financial obligations you have and what they mean, a professional financial advisor can help explain everything to you impartially and clear up the confusion. The benefits are worthwhile- you could end up saving money on loans, locking down a great retirement package or taking the initiative to do some much needed estate planning.
Professional Financial Advisor Infographic (scroll down if you want to use it on your website)
Here are some signs that it might be the right more for you to take the first step and ask for help:
1.If you are unable to keep track of where your money goes
If you habitually have no idea where your money disappears to by mid-month and seem to always be writing checks that bounce, you need to see a professional financial advisor. The indications are that, not only do your spending habits have no structure or record, but that you also are unable to live within your means such that you spend more than you earn. If this sounds like you, a financial overhaul is needed from an advisor.
2. If you don’t understand various contracts and policies that you have
If you are signing legal contacts and opting into policies that you don’t fully understand, this is a serious sign that you need the expert assistance of professionals to help you to understand quite literally what you are getting yourself into. For example, if you have an insurance policy yet don’t fully comprehend what the limits are, you may find yourself in trouble if you need to make a claim only to discover that you have been paying into a policy that has underinsured you for years. Get the advice of a professional who can guide you to the most appropriate policies, financial needs and coverage for your needs, which may have changed over time.
3. If you are leaving major events to chance
It sounds a little morbid, but it is important to always be prepared for the unexpected. Unfortunately, this includes emergencies such as death or incapacitation. If you have not made any arrangements for basic estate planning, you need to take the opportunity to do so now, with the advice of a professional. If you don’t do this, in the event of a tragedy you will have no say in what decisions are made about your care or the distribution of your assets.
4. If you have no idea what retirement has in store for you
Retirement is essentially a 20+ year period with no income, unless you have begun preparing and saving adequately during your prime working years. If you have not given more than a passing thought to how you will support yourself and your family during retirement, you need to enlist the assistance of a professional financial advisory who can advise what funds and plans you need in order to live your golden years in comfort and make each month financially comfortable.
Have you used the service of a Certified Financial Planner™? Did you feel empowered by the experience? Share your comments with us!
Download this infographic.
