Top Ten Reasons to See a Financial Advisor Today

Tina Haapala |

10. You Are Retiring or Changing Jobs

Social Security is there for retirees now, but will it be there for us in the future? Do you have enough for retirement if Social Security isn’t there for you? Are you thinking about changing jobs, or will you be forced to change jobs due to layoffs? An advisor can help you plan in case you’re in this situation and help you manage rollovers from 401(k) s. There are a lot of rules that have to be followed to avoid penalties.

9. You want to Save for a Child’s College Education

There is no doubt that the cost of college is going up. There are many ways to fund education. First, you have to determine the potential cost of college- public or private? Then you have to choose a savings vehicle- IRAs, 529 plans, etc. Will the savings vehicle you choose impact financial aid your child may be eligible for? An advisor can help you determine the best way to invest for college.

8. You Are Uncertain of How the New Tax Law Changes Will Affect You

The 2001 Tax Act had many savings opportunities around college, retirement and estate taxes. Your advisor can help you take advantage of these opportunities.

7. You Are Worried About the Economy and the Stock Market

It is important to understand history and keep a reasonable perspective on market declines. Your advisor has the tools and data to help you understand things like business cycles, bull and bear markets and sector rotation- all things that are perfectly normal market occurrences.

6. You Are Worried You Have Taken on Too Much Risk

Most of us know that we need to accept some risk over the long term to keep with inflation. Typically, investors who work with advisors tend to think more positively about accepting more risk in order to meet their long-term goals. Advisors help us determine the appropriate amount of risk for our age and goals- they help us achieve our dreams.

5. You Don’t Have the Time or Ability to Analyze all Mutual Funds

There are close to 8,500 mutual funds available today. That is a lot to track, not to mention stocks, bonds, separate account money managers- the list is endless.

4. You Are Tired of Wading Through All of the Information on the Internet

The Internet has changed our lives. Almost any information to do anything we could ever think of, from flying an airplane, to learning to knit is available on the Internet. But, there is also a lot of false information out there- false earnings reports, gossip from unreliable sources. There is a lot of information on mutual funds, too, but who really wants to spend that much time when someone else can do it for them? Who needs another full-time job? Yet some do-it-yourself investors spend 20-40 hours per week on their investments. Your advisor has resources to monitor your investments and can do so full-time.

3. You Have Had a Specific Life Event

If something has changed in your life, you need to make sure you let your advisor know. If you’ve gotten married, or divorced, or added children to your family, you may have additional needs. Illness can also play a big part in draining savings. And of course, an inheritance can also change things. There are many life changes that occur, and you should be working with your advisor to adjust your plan as needed.

2. You Would Like To Have Someone Monitor and Manage Your Investments

Advisors may help your portfolio (perhaps your portfolio is too aggressive or too conservative). Their watchful eye can help you make adjustments so that you stay on track.

1. You Would Like a Partner to Help You Make Informed Financial Decisions

It is your advisor’s job to maintain objectively regarding your money. Most people who work with advisors have a very high satisfaction rate. Your advisor is successful if you are successful.

[This came from a promotional piece from American Century Investments]