Showing posts with label financial planner. Show all posts
Showing posts with label financial planner. Show all posts

Friday, March 11, 2022

How Professionals Can Help You Preserve Your Wealth

Entrepreneurs ask a lot of questions when they start their business. They want to know how to start their business, sell their products, and manage their wealth. But what they don’t know is how to preserve their wealth over time. 

That’s where professionals can help. They can help you keep your wealth safe and healthy for future use. Here are several ways in which professionals can help you preserve your wealth.


An advisor is an expert who helps you make the right decisions. They can help you decide on the best strategy to preserve your wealth. This can include investing in an insurance policy, investing in a bank, or taking care of your taxes.

Additionally, an advisor can help you in succession planning. They can help you plan how to pass your wealth on to your heirs.


A lawyer is an expert who helps you navigate the legal system regarding wealth acquisition and wealth management. This includes looking at tax laws and estate planning laws governing your business and personal wealth.

Another way you should hire a lawyer to help you manage your wealth is succession planning. A lawyer can help you create a succession plan so that you can pass your wealth on to your heirs in the best possible way.


An accountant is an expert who helps you manage and protect your money. They can help with tax preparation, investments, financial planning, and retirement planning.

Additionally, an accountant can help you monitor your wealth to spot any changes that may occur in the market or market value of your assets. This will allow you to take action before anything bad happens to your wealth.

An excellent example of this is when the stock market goes down, which could mean wiping out your wealth. In this case, accountants helped people find ways to preserve their wealth over time by acting quickly and efficiently before the value of their assets went down significantly.

Financial Planners

A financial planner is a professional who helps people create long-term plans for their wealth accumulation or preservation over time.

They can help you make decisions on how best to invest your money, how to manage it over time, and how to prepare for the future. They can also help you prioritize your goals to determine what is most important and less critical.

Estate Planning

Estate planning is a set of legal documents that create a plan for your wealth after you die. It will ensure that your assets are transferred in the right way to the people who are most deserving of them.

This means that it can protect your family from potential financial hardships when you can no longer handle things for them. It also ensures that they stay within their budget while taking care of themselves and those who depend on them.

In conclusion, wealth preservation is not just about money. It is about how you use your money to live a happy, healthy, and prosperous life.

Saturday, October 26, 2019

Approaching Retirement? 4 Reasons to Work With a Financial Planner

You are slowly heading for retirement after putting years of hard work into accumulating wealth for your retirement days. It’s quite easy to misappropriate funds that you had planned for your retirement years. 

Bringing in a financial planner will help you allocate your funds and plan for retirement in a more logical and organized way. With irregular paychecks, we want to believe that you will need a financial planner as you approach your retirement days.

Living entirely on a pension isn’t a great idea

During retirement, your paycheck gets cut off since you are off the payroll. Luckily, you should have accumulated pension funds that will stand-in for the absent paycheck after you retire. 

Unfortunately, pension money may not be adequate to finance a comfortable lifestyle. Your financial planner will help you strategize on how to supplement the pension money and afford the lifestyle you have always dreamed of in your old days.

Make ideal investment choices

Your lifetime savings might come in handy during your retirement period if you decide to invest them in good ventures. Through a financial planner, you will choose investments that meet your goals and needs, whether you want them to be in the long-run or short-term. 

You can reduce the risks of losing your savings since the adviser is more knowledgeable of the stocks, capital, and investments market.

Get professional insights

When you need medical help, you will head to the doctor’s office for professional and quality assistance. If you want to eat better, you will talk to a dietitian. The same case applies when you need to plan for your retirement days. 

Seek the expert services of a retirement planner to have a serious conversation about your retirement, your goals, and ideas on how to execute them. You are likely to walk out with valuable information that you wouldn’t have managed to gather anywhere else.

Plan for the unexpected

We don’t like to talk about the unfortunate events that life has to offer. You might have a plan in mind and be faithful to the plan until life happens. What do you do if you lose your job before the retirement period? 

In the event you lose a spouse unexpectedly, how do you take care of your family while staying on track with your retirement plans? A wealth management provider can help you plan for unexpected life events, so you don’t have to change your plans.

Nothing beats the feeling of taking charge of your life and staying in control. Now you have four reasons to start looking for the right financial planner and start preparing for your retirement period.

Tuesday, September 3, 2019

4 Reasons to Meet with a Financial Planner before Deciding to Retire

Whenever you are looking to manage your finances, you will benefit by working with a financial planner. This is a professional that specializes in providing advice, guidance, and education to people who are looking to get more out of their financial situation. 

With a financial planner, you will be able to make sure that you are on the right track in terms of saving for retirement and managing your finances wisely. There are a few good reasons to work with a financial planner. As a result, using a financial planner can ensure that you are financially secure for the rest of your life.


One of the reasons why you should meet with a financial planner before you retire is to help you save for retirement more effectively. While you can invest and save for retirement yourself, you may miss out on things that can allow you to increase your savings. 

A financial planner can help introduce you to investment options that can help enhance your wealth. If you already have a sufficient amount of savings, a financial planner can also help you with private wealth management as well.


Meeting with a financial planner before you retire can also allow you to better understand what you invest in. Whenever you are looking to invest in something, you may be unsure about how it works and how it can benefit you. 

A financial planner can educate you on how things such as stocks, bonds, and annuities work. As a result, you will be in a better position to know which investment options will best meet your needs.


Another reason to meet with a financial planner is that they can help you plan your finances more efficiently. They can help you set up a budget to pay your expenses. 

Financial planners can also help you find ways to pay off debts more quickly as well. A financial planner can give you advice on how to manage debts, whether it is a good idea to get a car loan and/or how paying off your mortgage will benefit you.


Financial planners can help you prepare for unexpected events. There are times when you might have something such as a medical bill or a job loss that can prevent you from reaching your retirement savings goals. As a result, you will benefit from having a professional guide you through this situation. 

A financial planner can help you develop a budget to cope with a job loss and/or a medical debt. With their assistance, you will be in a better position to get through these unexpected events that can affect your financial situation.

Managing your finances can be a bit complicated at times. Whenever you are unsure about how to allocate your financial resources, it is beneficial to get professional assistance. You will benefit by working with a financial planner. 

This professional will guide you through the process of setting up retirement accounts, finding the best things to invest in and also give you advice on how to oversee all of your financial affairs.

Saturday, May 25, 2019

4 Benefits of Meeting with a Financial Planner as You Age

A survey from 2018 found that roughly one-third of all Americans had no more than $5,000 in their savings accounts for retirement. Most Americans do, in fact, earn more than enough money to easily save enough to make it through their golden years. However, since the average American’s personal finance knowledge isn’t the greatest, they often end up not properly planning for retirement.

Meeting with financial planners as you age offers several benefits. Here are four of the most prominent such benefits.

Your Advisor Will Make Sure You Won’t Commit Rookie Mistakes

According to Money Marketing, most financial advisors serve anywhere from a few dozen to some 250 clients at any given time. Since they’ve got so much experience in helping people plan for retirement, they will significantly increase the likelihood of you not subjecting yourself to rookie mistakes.

In most cases, preventing these basic mistakes is simple. However, without the guidance of a trusted financial advisor, you won’t be familiar with preventing such problems from occurring.

Can You Say “tax Shelters”?

The wealthiest Americans regularly shelter more of their earnings from the Internal Revenue Service’s legal reach using a wide variety of tax sheltering strategies. Experienced financial planners are inherently familiar with tax shelters that you could easily take advantage of. With their help, you could save thousands of dollars in taxes each and every year.

They Can Legally Protect Your Estate’s Assets from Outside Interests

Most people take pride in saving up enough money to pass on substantial sums to their loved ones, friends, and family members after they die. Unfortunately, many people’s savings get dipped into by creditors and other interests before being distributed to beneficiaries, resulting in less money and fewer valuable assets for them.

Financial advisors, especially those who are experienced in estate and will planning, either directly know how to protect your estate from creditors and other claimants or can hook you up with estate-planning attorneys who specialize in the practice.

You Can Rest Assured Knowing Your Nest Egg Is Safe and Constantly Growing

With help from financial advisors in the management of your investments, earnings, and holdings, you will save yourself from experiencing tons of stress. Further, the less stress you experience, the longer you’re likely to live.

Financial planners widely offer their services to clients across the world at reasonable rates. Unless you’re a financial professional yourself, you can’t go wrong with meeting with financial planners as you age.

Friday, August 17, 2018

Money Management: 5 Reasons to Get a Financial Planner Now

Understanding how to effectively manage money should be a top priority for any adult. The good news is that you don’t have to create a financial plan by yourself. A financial adviser can teach you how to save for retirement, build an emergency fund or otherwise meet your financial goals.

Professional Insight Can Save You Money Immediately

The simple act of creating a budget can help you save hundreds or thousands of dollars a year. A budget can help you control your discretionary spending or help you pay your bills on time to cut down on late fees. Other simple acts like consolidating credit card balances can reduce interest paid to lenders.

Saving Money is a Learned Skill

While saving money is essential to create financial security, it is a habit that is learned over time. However, when a professional tells you more about the magic of compound interest, you may feel more motivated to start saving. 

Furthermore, a financial adviser can tell you what types of accounts to put your money in. This can be in addition to you traditional savings account or another type of investment that will earn you more interest over time.

Learn How Taxes Impact Your Plan

Whenever you earn money, the government is going to take some of that cash for itself. By talking with a financial adviser, you can devise strategies to keep the tax collector at bay for several years into the future. 

If you have current tax debts, an adviser can help you create a plan to pay down that debt in a timely manner. It is also a useful to know when tax season comes around to know what you can and can’t deduct on your taxes. 

The more you can deduct the less money you have to pay and the higher return you will get back on your taxes after they have been filed.

Develop Strategies to Accomplish Short and Long-Term Goals

While your long-term goal may be to retire at age 55, there are many more pressing goals that may need to be met in the short-term. For instance, it is good to know how you will pay for your first house or for the wedding that you want to have next year. 

A financial adviser can make sure that you get the house or wedding you want without jeopardizing your retirement. It is also a good idea to use those small goals to get what you want when you want it.

If you do this right, this can make your bigger goals for retirement more meaningful as you have accumulated some of the things you want while working towards retirement.

Find Ways to Grow Wealth Beyond Inflation

Financial planners know that inflation erodes the value of a savings account or investment portfolio over time. However, they can suggest investments such as real estate or emerging market funds that have the potential to grow faster than inflation or outperform the market as a whole. 

The bottom line is, a financial advisor can help you find the right market and the right investment to make at any given time. They will explain to you the risks versus the rewards of those investments and will make recommendations to you based on your current financial portfolio and stability. They will advise you which investments risks make sense and which ones are too risky.

Meeting with a financial planner doesn’t have to be complicated or scary. All you need to do is be ready to have an honest and open conversation with someone who has your financial best interest in mind.

Sunday, October 8, 2017

6 Tips to Help You Find the Right Financial Planner

Managing personal finances is sometimes difficult. People take the help of financial consultants when they couldn't manage it themselves. We call the consultants financial planners, and sometimes, financial advisors.

The two terms are not synonymous, though. Financial advisory is an umbrella term, which includes financial planning. A financial advisor helps people invest in the stock market, acts as a broker to settle a deal, delivers tips for a lawsuit, etc.

A financial planner, on the other hand, only helps individuals and organizations in taking care of their finances. 
You can see the basics of financial planning here.

Ask for certifications

According to Financial Industry Regulatory Authority (FINRA), anyone can call himself a financial planner. What it means is a complete charlatan might pretend to be a financial expert, and you may end up visiting him for financial advice.

Nevertheless, if someone wants to introduce himself as a financial advisor, then he’d have to obtain some certification. The National Association of Personal Financial Advisors or NAPFA keeps a registry of financial advisors. As far as its claim goes, there are over 100 certifications, any of which a financial advisor could obtain. 

Hence, if you ever visit a financial advisor, ask him to produce his credentials. He should be having certifications proving his sanguinity. If he couldn't produce them or give flimsy excuses, look for another one.

Fee structure

Select a planner, who asks for a flat rate fee. Planners, who prefer a commission based fee, may not work in an unbiased manner for their clients, as they are paid only when a product is sold. Because of this, they might prioritize the sale of the product, and not client’s interest.

Those, who ask for an hourly rate fee are like attorneys. They are extremely professional because the money they charge is not for the advice delivered, but for the time taken. Some lawyers accept an annual fee, which might be as high as 1-2% of your total assets.

Some financial planners limit their services to people, who are quite rich. More often than not, such planners offer investment related advice and secure a percentage in the return. 

They don’t accept clients, who don’t have enough money to invest. The minimum cap for qualification is $250000. If you are not opting for a large-scale investment, don’t go to them.

The planner’s credentials

In technical terms, it is called fiduciary. If a planner has fiduciary, that means he has pledged to serve the best interests of his client irrespective of situations. If a planner is not a fiduciary, then you have reason to doubt his authenticity. Investment professionals without fiduciary are presumed to lack the sustainability standard.

Simply put, they might offer you advice, which are attractive from a shallow angle, but not so in the long run. Ask the planner upfront whether he’s a fiduciary, don’t hesitate. 

Another thing to ask is whether he’s ever been put under an investigation carried out by any investment regulatory council. Such investigations are conducted only when a person is accused of serious charges.

Promotion through predictions

A financial planner working independently is always on the lookout for new clients. Someone visiting his office is a prospective lead, who might turn into a sale. To impress him, the planner might make predictions, which he couldn’t back with evidence.

The predictions made by such planners are mostly on the stock market. If your planner tells you to invest in a stock because he believes he’ll show a market-beating performance, leave his office, and start looking for another planner. 

That’s because the stock market is highly volatile, and nobody could correctly predict what’s going to happen.

Area of specialization

Not every planner can help you. Check the planner’s area of expertise. Some planners work in specific areas, such insurance or socially responsible investments. 

If you want solutions related to IRA conversion, and if a planner has reputation in areas such as stock market investment, then there’s no point going to him.

Sometimes, planners focus on clients on the basis of age. A planner, who is more than 60 years of age and has his own business might focus on people who are on the verge of retiring or business people themselves.

Technicalities aside

Financial planners often use technical jargons, the meaning of which is hard for a naive people to comprehend. If a planner uses any ambiguous term, ask him to elucidate its meaning. Make sure you know the meaning of every word, coming out of his mouth.

Follow the tips

And it’ll be incredibly easy for you to find the right financial planner, who’ll provide you with all the help you want.

What do you think of the tips shared here? Do you have any tip of your own? Share with us by posting a comment.

James Paul is the blogger at Basic Finance Care that covers best tips on budget management, frugal living, money saving, credit score improvement and more. He is also a contributing writer at Finance Guest Post - a community for personal finance blogger.

Thursday, March 12, 2015

Importance of Freelancing Accountant Service for Your Personal Firm

For a start-up, medium sized and large business, accounting service is mostly needed. Accountants usually play very significant role there because without them a company cannot grow up properly. 

Accounting resolution can be done in various ways while a huge company is consisted with multiple transaction, pay roll and department related services. It is not so easy to run an accounts department and so, experts are needed to continue it completely. 

An experienced and reliable guy is needed to design the whole accounting framework. An effective technique should be applied to accomplish this challenging mission. A company cannot stand without right financial solution and it is possible by taking correct decision.

  • If a business owner is not interested to keep the permanent employee in his firm, then they can hire freelancing or part time accounting service. It is a cost cutting resolution which helps to fulfill the accounting service in one of the best ways.
  • A business account is accumulated with multiple services. A businessman can assure himself/herself financially by getting the help from freelancers accountants. They can understand your complicated financial situation and according to your requirement, they usually solve them. They have to apply their knowledge and confidence to provide those clients exact solution.
  • There should arise a question that why a freelancers accountant is necessary for on-going firms. Financial activities are included with business start-up, business plan, corporate finance, corporate tax, company formation, business plan, tax planning and pay roll services. Freelancer’s accountants are very professionally expert to provide those services.
  • You can also get the consultation service from them and especially in case of company formation; you can take a right decision from them. If you are going to set up a new company, then you can get rid of all confusions by hiring this freelancing service. A better plan can give you ultimate company growth. Setting up of personal company is quite serious decision and you have to design this plan very carefully. For this company formation related plan, you can get the help from  freelancers accountants.
  • Freelancing service is almost like part time job and it is quite admirable and affordable than full time job. In case of full time job, people have to give better dedication and commitment but with the invention of “freelancing” concept, a service can be hired at anytime from anywhere. Payment procedure is quite easy for the freelancers. It is less hectic job than the full time workers. This service can be hired from online and in case of accounts related solution, this is one of the best procedures to contact with them.
  • In UK, this type of accounting service is quite popular because most of the businessmen like to hire this service for their own firms. This is short term bonding and better than maintaining the employee headaches. If they hire full time workers for their firms, then it shall compel them to invest more. Freelancing service has helped them to get one of the most effective services in reasonable price.


In Europe, freelancer’s accountants are quite popular for having some significant activities in them. In case of budget and related queries, they can prepare all of them within your given timelines. Their provided solutions can match well with your requirement.

  • Now it is possible to get the support and assistance for your personal accounting solutions.
  • Online freelancing service is possible by logging in the internet. You can find there numbers of freelancers are waiting for your response. They are very professional and experienced in their key responsibilities. By proving the expertise works, they will also keep your confidential accounts related information secured. You can get fully assured reliable services from them.


If you are confused enough to get the freelancing service from online, then you have to check the online reputation of that service provider. If it is trustworthy enough, then you can get this service from online. If your query is about accounting service, then you have to be very careful.

Company bio:

True dynamic is a well-known accountant firm in UK which provides you an ultimate solution for your accounts. If you are worried about your accounts related requirement, then it can be solvable by this company. The accountants are very experienced and professional in their works. They are committed to provide the clients accurate services within their given timeline.

Friday, May 30, 2014

Four Life Events You Should Seek Financial Consultation For

Finance (Photo credit: Tax Credits)
Financial consultation refers to seeking financial advice from a qualified financial planner. The work of a financial planner is to help you identify your financial position, your needs and goals, how close or far you are to your goals and how to attain your goals. These four aspects of financial planning are especially important to keep in mind when planning for the following life events:


Tying the knot is a major, life-changing event in people’s lives. This is often largely due to the integration of the couples' bills, investments, expenditures and savings. Financial planning in marriage starts from before the wedding and should address every aspect of each partner's financial situation. These discussions can often lead to talk of prenuptial agreements. 

Prenuptials have become a necessity for some parties, owing to high divorce rates and an increase in attorneys specializing in alimony and divorce. A financial consultant can help determine if creating a prenuptial is the right move for a couple's financial future.

Buying a Home

Buying a home can be termed as a lifetime investment. Large investments like this can be either a really good thing or a really bad one, depending on both factors you can control and some you cannot. When looking to buy a home, one should seek advice about whether or not they are able to afford the purchase. 

The consultant will help you know whether you can buy the house at the current time, what type of house you can buy, or when the best time will be to buy a home. This planning applies to both daily live-in homes and vacation homes. Having a working knowledge of an area's home value trends and potential is necessary when making an investment of this magnitude. 

If you are unfamiliar with the area or housing market trends, seeking consultation from a financial expert with experience in real estate is one of the best ways to ensure the home you purchase will prove a solid investment.


People often wish to invest in certain projects in a bid to make more money and find financial comfort. This could be in form of buying property, investing in a business or buying shares. However, some investment options are definite time bombs that would land one in to big trouble. 

As such, it is best to consult a financial adviser when seeking to venture in to some sort of investment. This expert will advise you on whether to undertake the investment, how to proceed with it or whether to abandon it. They can also help you find the best investment avenue in the event that there are options.


Retirement is a big deal, since it means that one will not be able to engage in normal employment opportunities. Anyone planning on retiring in the next decade or so should take action immediately to ensure there are sufficient funds put away for the event. Future retirees should seek a financial assistant who can consult with them and help them know how to still live comfortably after retirement. 

A financial adviser can help them make informed decisions about their expenditure and possible investment avenues. These advisers are able to calculate your saving potential within the context of possible inflation and price shifts, to plan for uncertain living costs with their clients' current earnings, investments, and assets.

Financial consultants help people avoid economic trouble by finding the best solution for them. When you find yourself facing a major life event or financial hurdle, it is often best to seek financial advice and assistance.

Informational Credit to WBLI

Tuesday, January 14, 2014

Jack Comeau on How Community Involvement Helps a Financial Planner

Finance (Photo credit: Tax Credits)
Undoubtedly, the responsibility of a financial planner, which is to provide sound, accurate financial advise to his or her clients in the goal of protecting and creating wealth for that client, is not a simple or easy thing. It takes years of experience in working in the financial markets; it takes acute people skills; and perhaps above all, it takes a real love for delivering quality client service.

The mentioning of this second requirement – people skills – touches on a point that I would like to write about. I think there sometimes exists among financial planners the erroneous idea that, in order to gather and deliver accurate financial recommendations to clients, knowledge of the client’s financial portfolio and the trends of the markets is the only thing needs to be known.

However, I think this is a real misperception in the financial planning industry and one that can lead to real consequences. I would argue that in order for a financial planner to be truly effective in their role, that is, in order for the advisor to be truly effective in sustaining and building their client’s wealth, an advisor needs to build profiles of his or her clients that go beyond simply including the client’s financial background and data. Questions need to be answered like, where is this client in life? Is the client close to retirement? Are they just beginning to set aside money? Does the client have any major short-term or long-term goals in mind? These types of questions are what I call “key life facts” and I would put my name, Jack Comeau, beside the argument that a financial planner’s knowledge of them is equally as important as his or her knowledge of the client’s financial facts.

But, how can a financial planner go about learning some of these key life facts about their client? Well, naturally, the first and easiest opportunity to do so comes when a financial planner first meets a new client and engages with him or her in an in-depth introductory conversation. Topics obvious to this conversation include how you, the financial planner, can best serve the client’s financial goals; a description of what the client’s financial goals are; and an introductory explanation of how you will go about achieving the client’s goals.

Needless to say, having this kind of introductory engagement with the client is paramount to creating a healthy, productive relationship between client and financial planner, and no relationship should go without it. However, what this sort of formal or informal meet-and-greet also provides is the perfect opportunity for the financial planner to ask the client about key life facts that, although fall outside of the direct sphere of the client’s finances, play a definite part in helping the financial planner get a more useful and more well-rounded idea of the client’s financial picture.

I would also argue that there is another way for a financial planner to gain a more well-rounded perspective of the client and his financial picture, and that’s through active community involvement. The benefits for a financial planner of community involvement I think are often overlooked, but I know from personal experience just how important it can be. I’ve been living in the Saskatoon area now for many years now and community involvement has always been a priority of mine. I’m a member of the Saskatoon Estate Planning Council, the Saskatoon Chamber of Commerce and my area’s CLU Chapter, among other community organizations. Now, yes, taking an active role in my community means that I have the opportunity of meeting more potential clients and, thus, expanding the business of Comeau Financial and advertising my name, Jack Comeau, to more people.

However, business interests set aside, I have come to find that networking and regularly connecting with members of my community does something far more vital for my role as a financial planner – since many of my clients are also members of my community, associating with them outside of my office yields a much better and much more intimate understanding of such things as their values, where they are in the path of life and what kind of short-term and long-term goals they may have. This in turn provides me a much stronger base of understanding for my responsibility of delivering financially sound advice to them.

In the end, we as financial planners must realize that making financial recommendations for a client is not something that happens in a vacuum. Our recommendations to our clients both affect and are affected by a client’s values and the milestones in their lives, two “key life facts” that we must continually strive to gain a better understanding of.

Thursday, November 21, 2013

Making Plans For Your Retirement? Here's How To Get Your Finances In Order

clip_image001Everyone dreams of the day when they can throw away the alarm clock and stay in bed for as long as they like. No, I’m not talking about Sunday, I’m referring to your retirement and all the benefits it will bring. The only trouble is, most of us have absolutely no idea how long we’ve got on this planet, and so it can be somewhat tricky to determine the amount of cash we’ll need to survive. It wouldn’t make much sense to save hundreds of thousands only to pass away at the age of 70 now would it?

With that mind, I’ve written this post in an attempt to help you work out exactly what level of saving is appropriate, and to highlight some of the measures you can take to ensure all your finances are in order before the big day comes. So take a moment or two to read through the advice relayed below, and I’m certain the position I’ll leave you in will be much more favorable. 

Identifying Pension Schemes

Anyone who’s worked lots of different jobs could realistically have enrolled in numerous different pension schemes over the years, and although most providers should contact and inform you about the money they hold, some less than reputable companies will avoid this at all costs, meaning you’re going to have to chase them up. Employing the services of a respected financial planner is usually the best way forward, as they often specialize in helping people with matters like this. Luckily, the industry has been experiencing a significant boom over the last few years and so you should have no trouble locating financial planners in Perth, London, Kingston or any other major city within the commonwealth. 

Cashing Your Investments

People who’ve done well during their working lives may well have invested some of their earnings in the stock market or in some cases even property. If this applies to you, the chances are you’ve done very well for yourself over the years, but now is the time to cash those investments and live off the outcomes. Again, a financial planner can help you with this, and might even be in a position to suggest alternative methods of utilizing the funds to create a stable income, but regardless of their advice, unless the capital is lower than the amount you need, I’d take the money and run. 

Paying Of All Debts

Debtors and creditors are the last thing you want to deal with at a time in your life when relaxation is supposed to be your main pastime. This is why settling all your debts during the early stages of your retirement (or even before) is definitely a good move. Upon completing this task, you’ll know for certain that all the money in your bank is spendable, and this will help you to construct your monthly budgets.

So there you have it my friends. You should now have a much more accurate view of the tasks ahead and what you need to do to get your finances sorted in order to achieve a happy and stress free retirement.

Image source

Saturday, November 9, 2013

How to Manage Your Money Effectively With the Right Financial Planner?

Financial planners do help their clients in saving their money, making smart investments, and ultimately growing their money tree. They help in reaching a specific goal and assist in purchasing assets like a house, stocks, and ETFs.
Few financial planners are specialized in giving smart estate or retirement planning advice, while others consult for a wide range of economic and financial matters. It is always recommended to seek advice of the expertise financial planners, if you are planning your future at a young age.

How to Make Use of Planners in Reaching Your Goals?

The initial step you need to take is to note all your realistic goals. You need to list the short term, long term, and mid-term goals. You need to map up the objectives and the duration required for accomplishing them.

Short term goals include saving for buying expensive furniture, gadgets, honeymoon, car, and things that you can buy within 1 to 3 years of time. If you have children, tuition fee would be considered as mid-term goal and travel and retirement plans fall under the long-term goals.

You need to understand how to handle all the expenses as early as possible. Make sure that you do not spend almost all your earnings. Keep in mind that it is discipline, and you should practice this daily in order to reach your goals. 

Avoiding Debts

Avoiding debts is a part of budgeting. Avoid using more credit cards, which can increase the debts steeply. It could be pretty simple to swipe the card, and shortly we lose the hard earned money in the whole process. If we do not pay them on time, the debt could increase and you may finally end up clearing more debts.

However, you wouldn’t want to spend your hard-earned money unnecessarily right? So, financial planners will help you with great ideas when it comes to things like spending money via credit cards.

Financial planners help you in making decisions, which can benefit you more when it comes to the economic status. Hiring someone who’s expert in this arena will help you in avoiding killing what you saved. In this case, you need to choose the best planner to save yourself from unnecessary expenses. 

Hiring Honest Financial Planners

The person that you hire should be honest and trustworthy; since the planner deals with your money, make sure that you can trust him well. It does cause troubles if you have any concerns or doubts about the person you hire.

Finding someone who is proficient in this particular arena is pretty important. You need to browse through their portfolio and make sure that the concerned person has extensive experience the profession. Finally, make sure that you can afford their personal finance planning services, and that you’re not overpaying and putting a big dent on your budget as such, otherwise the whole point of hiring a financial planner would be defeated!


Learn how to negotiate before hiring him and don’t blurt out everything before finalizing things. If the planner has a personal website, you can always read though the information posted on the website, and get a pulse of his/her experience.

You can also read user comments in blog and then come to a conclusion whether to hire him/her or not. Taking a deeper look into the background of the planner will certainly help you in understanding more about the person, and making a smart decision.

Author Bio:
Steve Martin is a personal finance planner who has been working at a reputed bank for past 8 years. Follow him on Twitter, or connect with Steve by dropping him a message through the comment box here.

Friday, September 20, 2013

Six Things a Great Financial Planner Should Do For You

A good financial planner is an important part of your hopes for a financially stable future. How do you judge if the service you receive from your planner is of a high enough standard? One way would be to examine how he prepares to study your case before he makes any actual recommendations. Every competent financial planner needs to go through the following steps when offering financial advice.

You should first see your planner define what exactly you can expect out of the deal

Many people aren’t clear about the exact level of service to expect when they hire a financial planner. They may believe that they are entitled to complete handholding, for instance, when some planners only offer broad guidance. People are often not clear on how exactly they will be charged for services, either.

A good financial planner will always start off with sending you a clearly-worded letter of engagement, with the following pieces of information. 

  • You get an exact list of the services provided and some clarification on what is not provided. You should also see a list of fees and charges. 
  • If you are signing on to a financial planner as a couple, the letter will make it clear what is owed to both and what will happen if you get divorced. If the planner sees himself as serving one spouse and not the other, this letter should make it clear. 
  • The letter will make it clear what level of cooperation is expected from you. You’ll see information about what data you need to provide on your current financial position and the documents you need to provide on an ongoing basis (such as your tax returns). 

Your planner needs to find out what your goals are

The specific financial moves that your financial planner thinks of depend on the specific goals you have – both short-term and long-term. If building a retirement nest egg is all you need to plan for, your advisor will come up with a plan for investments that have an element of risk attached, but that promise high returns. If you need to plan for your child’s time in college five years down the line, a less risky strategy may be called for. Your planner should also offer advice on his own for what kind of possibilities you should plan for that aren’t on your radar, already.

Assess your current financial position

A close look by your planner at your income, savings, debts, investments and spending habits is an important part of putting you on the road to your goals. Whatever weaknesses the planner notices in your current position – perhaps you don’t have an emergency fund or your investments are noticeably out of line with your goals – he will need to correct them before going ahead with making recommendations for the future.

Prepare a financial plan for your goals

When the groundwork is laid, it’s time for your financial planner to actually make recommendations. He should advice you on how much you should be saving, what steps you should take to protect your income and savings from unpredictable market occurrences and draw up a plan with specific investment ideas.

Put the plan into action

Once your planner has a fully formed plan in hand that you approve of, he will either begin making investments on your behalf himself or guide you on how to go about making them. While it’s easier to let a financial planner make all the investments needed on your behalf, it can be expensive to use a planner’s services this way.

Finally, your planner needs to monitor progress

Financial planning is not an exact science. The investment world is a constantly changing one. Once your planner’s recommendations are implemented, it’s important to constantly monitor them for results. Constant monitoring and readjusting is important also because your own goals can change over time. A change in your job, a new addition to the family and other changes can require constant replanning.

William Dawson has used the services of a financial planner for many years now. An avid blogger, he enjoys posting on a variety of websites.

Sunday, September 15, 2013

Post Retirement: 5 Ways to Boost Your Financial Portfolio

Retirement marks the beginning of an exciting new chapter in your life. You are no longer working to satisfy the goals and dreams of your boss. These days, you are looking to ensure that your own goals and dreams are being fulfilled. What are some things that you can do post-retirement to make sure that you have the financial resources to stay in control of your own life?

1) Never Stop Investing

It is a good idea to always be on the lookout for that next great investment opportunity. Whether you want to buy an income property, purchase gold bullion or invest in a business, you should always be looking to put your money where it will continue to grow for you.

2) Get A Part-Time Job

After retirement, you may loathe the thought of going back to work. The good news is that you have the flexibility to choose a job that interests you. Instead of working because you have to, you have the time to work as a bartender, on the golf course or at the body shop because you want to and its a great way to make money while getting out of the house.

3) Meet With A Financial Planner Regularly

Your financial planner is your best friend. He or she will show you how to responsibly manage your money in ways that will allow you to live your life without fear of going broke.

4) Maximize Social Security Benefits

Do you suffer from pain or soreness due to years of physical labor? If so, you may want to meet with Harris Federal, a federal disability attorney to see if you can start collecting social security disability checks without having to sacrifice money in the future.

5) Look For Ways To Reduce Your Tax Burden

Each dollar that you don't send to the government is a dollar that you keep in your bank account. Therefore, it is in your best interest to find ways to lower your tax burden whenever possible. An easy way to do this, if you are under age 70, is to keep your money in your retirement account to avoid paying taxes on accrued interest.

Once you retire, you won't have the large paycheck and health benefits that your employer has provided for you. This means that you have to think of ways to provide for yourself for the next 20 to 30 years.

Wednesday, July 24, 2013

5 Signs Your Financial Advisor May Cheat You

Finance (Photo credit: Tax Credits)
The revelations of Allen Stanford and Bernie Madoff made us to carefully think about our financial advisors. It is quite unimaginable that your financial advisor will cheat on you; in reality, he or she is really capable of doing such. Nevertheless, it is not safe to generalize that all financial advisors are cheaters because there are a bunch of them who are honest and hard working people too. As a financial investor, you would not want to learn your lessons the hard way. If you have hired a financial advisor, you have to understand that you are still responsible for your financial stability in the future. Before hiring the services of a financial advisor, you should be wary of the possible signs that your financial advisor may cheat on you and ruin your economic future. 

· The Big Spender - You may want to do a little background check regarding the lifestyle of the financial advisor that you wish to hire. It was revealed that financial advisor Bernie Madoff lives an extravagant lifestyle. He owns several properties all over the world and he does not mind spending thousands of money for private jets. This is the first sign that you should look out for.

· The Philanthropist – Aside from luxurious lifestyle, your financial advisor could be hiding behind the mask of a good-hearted philanthropist.  Again, Bernie Madoff gave huge amounts of money in several foundations and even gave a donation to the Democratic Party. On the other hand, Allen Stanford donated money to various universities. It is okay to help other people if your financial advisor is using his/her own money, but it is totally a different story if he/she is using your money to make him look like a generous person.

· The Excuser – If your financial advisor never seems to run out of excuses for not fulfilling your requests, this is not a good sign. If you requested for a simple fund statement and it took him/her a long time to provide it to you, this is surely a red flag. You are in big trouble if there is a delay in giving you money. Your financial advisor must be doing something behind your back and you will not be happy about it.
· The Magician – You have to remember that your financial advisor can do some magic to make your books look better. Your financial advisor can make the losses disappear and make your books appear as if everything is okay with your investments. It is better to do your own investigations and verify your returns. Looking at the percentage of the returns is not enough, you should be able to see how much money you have made with your financial investments. You should not get fooled with the returns shown in your books because a little magic can be done.

· The Business Person – There is nothing wrong if you financial advisor is a business person, but if it involves cloudy business practices then it is not a good sign too. Find out if immediate family members are the ones in-charge of bookkeeping because they can easily conceal the truth. Both Madoff and Stanford got their partners involved in the business as their respective bookkeepers and they also helped in the recruitment of new investors.

Sometimes it helps to be a little paranoid especially when it comes to financial investments. Some people may think that investors are stupid for not seeing the signs that their financial advisors are cheating on them. It is not a case of stupidity, these investors were too trusting and did not get themselves involved with their investments. They have left the responsibility of monitoring the investments in the hands of their financial advisors. Unfortunately, some financial advisors would take full advantage of the trust given to them and would use the money of their clients. Caution and involvement are the some of the things that you have to keep in mind when hiring financial advisors.

Irina Carter contributes towards Short Term Loans website. She loves covering business and finance news. She likes doing web development and web design.

Thursday, July 18, 2013

5 Financial Situations You Need to Be Prepared for after Retirement

One of the most important responsibilities that people have is planning financially for retirement. While people can spend decades saving and preparing for retirement, there are five financial situations in retirement that need to be factored in to any retirement preparation plan.

Medical Expenses

The first financial situation that can affect retired people are underestimated medical expenses. Retired individuals could spend hundreds of thousands of dollars during their retirement years on medications and unplanned medical procedures. As the cost of health insurance has continued to rise, and people are beginning to live a lot longer, this cost is likely to only increase considerably in the future.

Declining Home Value

A cost that affects a lot of retired individuals today is declining housing values. Many retirees have a long term plan that includes selling their home, downsizing, and living off the equity that they built over time. However, with housing prices declining all over the country, this may not longer be a reasonable plan. Retirees need to avoid relying on this equity for financial support as it could disappear at any time.

Lack of Social Security

Historically, Social Security payments were enough to provide most retirees with enough money to survive financially. Over the next few decades, the amount of retirees will continue to grow, and the amount of workers will not be available to support them all. This will lead to declining benefits.

Death of a Spouse

The fourth financial situation that you need to be prepared for is the death of your spouse. As emotionally straining as losing a spouse can be, it can also be financially challenging. The cost of a funeral can easily exceed $10,000 and those that lose their spouse could lose social security income as well as pension income, depending on the pension plan. Because of this, all people need to factor this in when preparing for retirement. In the case of a wrongful death due to medical malpractice or another issue, filing a lawsuit may be a good option. When hiring a wrongful death attorney in Sacramento residents will be guided through the legal process.

Support for Children

One of the most frequently underestimated expenses in retirement is the cost of still having to financially support children and grandchildren. Due to tougher job markets and rising costs of education, many grown children have to continue to live at home and accept financial support from their parents, even after the parents have moved on into retirement.

Tuesday, June 25, 2013

How To Hire The Right Financial Advisor

While both financial planners and broker-dealer agents are technically considered financial advisors, their expertise and services vary significantly. Before selecting an advisor it is important to understand that this decision should not be one that is rushed. When selecting a financial advisor it is important to consider all option and not just settle for the advisor that is the most convenient. Many consumer banks offer the option to use their financial advisors and there are some positives to this alternative. It is also common for those with higher funds to seek advisory from a financial institution. Whether choosing to hire an advisor from your local bank or seeking out advisory from financial institutions, it is important to consider all options and conduct detailed research to narrow down the options.

What To Consider: 

1. Credentials 

Before selecting a financial advisor, it is important to look into the registration and certifications of all the agents being considered. Failing to select an advisor with the right professional credentials and licenses can hurt you in the long-run. For financial advisors, you should be looking for the Certified Financial Planner (CFP) tag. Similarly, if you are interested in working with a broker, you should be looking for the Broker Dealer Agents (BDA) title. To get a better feel for certifications and areas of expertise one must always consider and reference the professional designations of an advisor. 

2. Consultation 

First impressions are half the ball game. If your first meeting with a prospective advisor leaves you feeling uncomfortable and unsure, it is likely that this relationship should not continue in terms of your financial goes. Before making a final selection, it is important to find an advisor who aligns with your goals and can ultimately meet your needs. Depending on how the initial meetings goes, it will be easy to tell whether your prospect is on the same page. 

3. Financial Strategy 

If you live a conservative lifestyle and refrain from taking risks often, it would be wise to align yourself with an advisor who has a similar asset allocation model. If you are aggressive, however, your best fit would be an advisor who will seek high risk and high reward. These two models are on opposite sides of the advisory spectrum and the models in between could seek to benefit those who like a little bit of both. If you are not conservative or aggressive, you should seek to work with an advisor who is moderate, moderately conservative, or moderately aggressive. The type of asset allocation model selected is an important aspect of selecting an advisor, however it is more important that your styles are aligned. 

4. The Alternatives 

         a. Banks

Banks can be a great alternative for those seeking a financial advisor. When choosing a bank advisor, they may offer incentives such as lower fee transactions or free checking if you have an investment account at the bank. People may choose to work with an advisor from a bank because it simplifies the process of searching for a qualified advisor. An advisor working for a bank will also likely be able to offer a wide variety of investments as well as life insurance options. 

          b. Online Broker

An online broker may also be an alternative to consider as they provide trading services over the internet, unlike traditional physical brokerage firms. Similar to financial institutions, the services offered will differ by each broker, ranging from trading and research strategies. When considering an online broker, keep your trading and investment habits in mind. If you trade frequently using your own research, concentrate on a firm with a low trade fee. Likewise, if you like to rely on broker assisted trades, confirm the service is offered at a reasonable price before depositing your funds. 

Things To Keep In Mind: 

Selecting a financial advisor is a big decision. It is important that when your retirement day hits you are prepared for a life of leisure. A financial advisor will help you stabilize your finance and help grow your assets. There is no secret sauce to selecting an advisor, but these tips outlined will help you find an advisor that is the best fit for you. Whether over the internet, through a bank, or through a financial institution, always consider your options and understand that an advisor is someone you will have relations with for years. Make sure that your advisor is working in your best interest and that your goals and personalities align. With this in mind, finding the best financial advisor is a feasible task.

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