Why you need financial advisor

Thursday December 6 2018

Kelvin Mkwawa

Kelvin Mkwawa 

Not everyone needs a financial advisor. But regardless of your financial state, everyone can benefit from having a financial advisor in their life.

Let me start by asking a fundamental question; how much can you improve on your current financial situation? You might be thinking that since I pay my bills on time know what my budget is and handle my finances pretty well, then I am good in my current financial situation.

Many people think this way but often it is because of a lack of awareness of financial opportunities and best practices. In order be aware, and take advantage of all the financial opportunities that are around us, we need someone to hold our hand and show us the way.

Whether you are a recent graduate trying to figure out how to handle student loans, a current professional worker, or a retiree looking to maximize your retirement account, or anything in between, we all want our money to work for us.

Researchers have found that, people have three big financial priorities in life: they want to be consumer debt-free, they want to have an emergency fund that will cover at least six months of their expenses, and they want to have enough money for their retirement.

To achieve that, you need a financial advisor. A financial advisor is a person with knowledge about financial matters who provides expert advices in a way that promotes the well-being of an individual.

A good financial advisor will help you set a plan to improve your financial health – this might take time as it doesn’t happen overnight but no matter what your financial position in life looks like, you can improve it. In this article, I will share few reasons why you should find a financial advisor and after reading these reasons, you will discover that financial advisors are more important than you thought.

Keep your financial plan on track

Now and then you might ask yourself these questions; how much money should I save for retirement at my current age? Should I change my financial plan as I get older? These questions may seem like complicated rocket science to you but to a financial advisor, they are music to their ears because of the financial knowledge they possess.

It is not easy to stick with your budget and financial plan so having someone who guides you with a strategy to keep the plan intact is imperative. A study from John Hancock Financial Services Inc showed that 70 per cent of those who work with a financial advisor are on track on their financial plan or ahead in saving for retirement, compared to just 33% of those who don’t use an advisor.

Save you time and stress

In today’s demanding world, do you think you can put in the hours of research needed to find the right balance for your investments or find the right information to decide which projects you need to investment in? Probably not.

And even if you have time, you probably would rather spend it with your family than going through investment research and strategies. This is where a financial advisor comes in and gives you a 360- degree view of your financial situation, spots weak areas and gives you educated advice on making wise money moves and.

A financial advisor will undertake research on a regular basis to maximise their knowledge to ensure your investments are safe and growing. Your financial advisor is there to answer your questions and address your concerns.

In conclusion, there are many benefits of hiring a financial advisor. They often have a broader and deeper knowledge of money management than you doTake a look at all your options as your financial future is in your hands.

And if you don’t take control of your money now, then when? Look at your financials, and take action now!