Financial Services Advisor

A financial services advisor is invaluable when planning for retirement and achieving personal savings goals. You dedicate countless hours of your life to working and earning money, do more to make that money work for you and stay out of debt by enlisting the services of an advisor. No matter how short term or long term your savings goals are, a financial advisor is recommended to help you achieve them.

Guide To Retirement

One of the main financial goals people typically save for is retirement. If you dream of taking an early retirement, then the time to start saving for that goal is now. If you are an employee, one of the services the employer may offer is a 401k plan to help you begin building a nest egg. 401k plans are very beneficial especially if the company offers a match on amounts you contribute up to a certain percentage.

Financial management advisors typically encourage employees to contribute to a 401k plan at least up to the matching amount. After you beginning putting money into the employer's plan, a financial services advisor will likely advise you to open either a traditional IRA or a Roth IRA account. These accounts are the main methods most people use in saving for the golden years and can be the ticket to taking an early retirement.

If you are unclear on the differences between traditional and Roth IRAs, you should schedule an appointment with a financial services advisor to learn the differences. One of the services the advisor will likely provide is detailing the accounts and discussing your situation to determine which option is the best for you to pursue. Once you choose a funding option, you can work with the personal financial advisor to determine how much you can afford to contribute on a regular basis and which funds you want to include in the account. This fund selection is known as asset allocation and is an extremely important decision in the retirement planning process. Therefore, spend some time working with the financial services advisor in determining how much investment risk you want to take and which funds are the best for your determined risk tolerance.

Achieving Life Goals

Once you have established a retirement plan, you can begin watching the investments grow and begin focusing on achieving other savings goals such as buying a home. Purchasing a home is a major life decision and a very worthwhile goal. Begin planning this purchase far in advance so you can save as much as possible and reduce the mortgage amount you will need to borrow. A financial services advisor will have ideas on how you can begin saving now to purchase a home in the future. The finance expert can suggest safe and worthwhile investments that can be used to grow the money you are saving for purchasing a home.

Another life goal many people talk to a financial services advisor about is planning for parenthood. While becoming a parent will likely be one of the most exciting decisions of your life, it can also be an expensive one. The first year of parenthood alone can cost thousands of dollars so you will want to have some money tucked away to cover everything. Once the child is born, you will want to begin thinking of building a college fund for them. One of the greatest gifts you can give your children is funding for an education which will set them on the track to success in adulthood. You have several options for education funds and a financial services advisor can help determine which is the best and safest option for you.

Lastly, a financial services advisor will assist you in building an emergency fund in the unfortunate event you lose a job, someone in the family suffers a medical emergency, or other unforeseen expenses arise. You can never be sure what is going to happen in life, but you can plan for the unexpected by building an emergency fund. An independent financial advisor may recommend you build an emergency fund valued at anywhere between three to eight months of living expenses. Once you discuss the details of your situation with the finance expert, they can offer services to determine how large of a fund you should begin building.

Fees charged by a financial services advisor will vary between advisors as well as between the services you require. The first thing you should do when deciding to seek the help of an investment advisor is request quotes from several to narrow the list to those within your price range. From this point, you should easily be able to find a financial specialist who offers the services needed to help you start growing your money and become wealthier than ever.

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