The Business Journal

Posts Tagged ‘Insurance’

In the best of all worlds, the financial planner you hire would be a jack-of-allfinancial-trades. He or she would know everything about budgeting, investments,taxes, insurance, credit, real estate, employee benefits, estate planning, retirement,college financing, career advancement, and every other aspect of your financial life. He or she would help you assess where you stand now, what you want to accomplish,and how you can attain your goals. He or she would be personable and a good listener.

He or she would maintain objectivity so as not to recommend aninvestment just because he or she gets a commission on it.Do such paragons of virtue exist? Indeed they do, but to find one, you must weed out the incompetent and self-serving neophytes from the experienced professionals who can help you obtain your financial goals.Before you begin interviewing candidates, though, assess your situation to determine whether you need a financial planner. If you need only one financial service,like tax return preparation or auto insurance, it is probably not cost effective to pay the fees that a planner charges. On the other hand, if you need an overall strategy that ties together the many aspects of your complex financial picture—past, present, and future—a planner’s services may be invaluable.

For example, if you have specific long-term goals, such as saving enough to buy your first home,starting a business, funding your children’s college education, or building a retirement nest egg, a financial planner can start you on the right path. Even if you don’t have a major financial goal, possessing a well-designed financial plan can guide you to live within your income, maintain a good credit record, spend more wisely, and generally feel confident about your financial future.