Financing Your First Business

What Can An Experienced Financial Planner Do For You?

6 October 2017

Jimmie Holland

Financial planning benefits people from all income levels and walks of life, yet most people don't bother worrying about the future when it comes to budgeting their finances. Hiring a financial planner takes all the hard work out of the planning experience and can help ensure that you're never left with a financial crisis to deal with. Here is what you can expect an experienced financial planner to do for you and your budget:

Debt Management Solutions

No matter how good you are with your money, there may come a time when your debt feels overwhelming and unmanageable. A financial planner can create repayment plans for you that makes debt management more convenient and less stressful for you in the coming years. Your planner can also help you make buying decisions that will help minimize your debt so you can keep your hard earned money in your bank account where it belongs.

Investment Planning and Maintenance

Investing in things like businesses, the stock market, and real estate can be lucrative as long as you understand all the opportunities and risks that are involved in any given investment. A financial planner has the experience and expertise needed to create strong investment strategies you can follow to make planning and maintenance easy.

Your financial planner can suggest investment options to consider and will advise you when an investment you want to make seems to risky. With a financial planner on your side, your investments may very well make you a millionaire when all is said and done.

Life and Health Insurance Oversight

Managing life and health insurance policies may seem easy at first thought, but if you want to get the best coverage for the least amount of money, a little legwork needs to be done as time goes on. You can keep your same old policies year after year, but you may be missing out on new types of protection and deals on policy rates.

Your financial planner can review new life and health insurance options each year and alert you when a good opportunity comes along. They'll also manage your current policies and ensure that everything is paid for and stays up to date.

Charitable Finance Management

If you enjoy donating money to charity, there are a few ways your financial planner can help. First and foremost, they'll manage all of your charitable portfolios for you so they stay organized. They can also plan yearly charitable donations for you based on your overall financial profile and ensure that you don't overstretch your budget or undervalue your contributions.

You will have an expert to consult with anytime you consider adding a new program or organization to your charitable budgeting list, and you'll be able to avoid tax pitfalls that could end up hurting instead of helping you after making a donation. And your financial planner should also be willing and able to manage all of your charitable receipts so they're ready to utilize come tax filing time.

Education Finance Planning

Whether you have kids and college to think about or you plan to enhance your own education in the coming years, you need a financial planner's help to make sure that paying for that education doesn't break the bank. Your planner will help you create a savings plan that takes care of a big chunk of college expenses when they arrive, and will manage payment plans for classes as well as fees for things like books and lodging if necessary. And your planner may even be able to figure a budget that allows you to pay off tuition early so you aren't left paying for school after graduation.

The points outlined here are just a few of the services you can expect a qualified financial planner to provide you with both now and in the coming decades.  

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