Whether your somebody who is young just starting out in the workforce.   Someone who is in the middle of their career.   Someone who is late in their career I will explain why I believe you should have a financial plan.  Even if you already have an advisor or your a DIY person it doesn’t hurt to get a second opinion.


Importance of Planning


I believe we all know the importance of planning, but I think to often that when it comes to money we don’t want to talk about it.  We don’t think we have enough money to pay for a plan by an advisor.  We are overwhelmed by it all so don’t want to think about it and therefore don’t start.  In addition, to so many other reasons on why we don’t seek out an advisor.  Many advisors can speak in jargon that is so far over our heads it reaffirms why we didn’t do anything in the first place. My goal is to educate you throughout the process.  I will re-explain things to you without using unnecessary complex financial jargon.


I encourage you to ask yourself do you plan your vacation?  Do you make a list when you get groceries? I would venture to say that many of us spend more time planning our vacations then we do on our finances.  I get it that money isn’t everything, but we make money decisions each and everyday.  These can have small/big ramifications over time. Those small ones can add up to big ones.  As many things in life it is the small habits / small decisions that we make everyday that add up to where we are at in this very moment.


This is not a reason to beat yourself up for the past mistakes that we have made.  We have all been there, myself included. Its making the best decision moving forward with the information that is available.  Key point is making a decision and taking action, not being stuck in the sand.


Financial Planning / Advice is Expensive?


One other item I would encourage you to consider is to look at your other day to day, week to week, month to month, and year to year money expenses big and small.  The reason why I say this is because we spend a lot of money on many things in life that doesn’t necessarily provide the return on our money that paying for a financial plan could.


I get that I am a little biased here and that yes financial plans are not cheap.  However, getting a financial plan done will produce so much value over your lifetime way above and beyond that initial costs.  I would also say that one way or another you are paying. Either paying someone to help you navigate the many decisions out there or paying in not making the best decision possible.   Our business model is set up for a one-time fee and doesn’t charge a percentage of your assets, or something based on your income.  It is completely transparent.


Early Career –


If this is you where you just graduated high school or college.  In your first few years of the workforce you may think that you can’t afford a financial plan.  I would tell you that you can’t afford not to have one. By having a plan this early you truly set yourself up for a lifetime of success. Your future self will be thanking you over and over that you did this. Getting a second opinion if you are a DIY investor can produce big dividends long-term.  There is a lot more to financial planning then the investing piece and each of those things alone can add up to thousands of dollars per decision.


At this stage you may have student loans.  Your car might be on its last leg.  May be wondering whether should you buy a house or rent.  What is the best way to buy a house and how to.   Do you understand all your workplace benefits? What about your company retirement plan? Do you receive matching money and what about your spouse are you looking at everything as one big portfolio?  Do you have a HSA (health savings account)? Are you a current DIY investor or do you already have an advisor? If you already have an advisor do you know how much that is costing you in advisor fees and in mutual fund (investment) fees?


Mid-Career –


If this is you where maybe you are settling down into your career now or maybe your wrestling with the possibility of making a career change while raising a family.  A lot can be going on at this time. If you already have an advisor do you know how much that is costing you in advisor fees and in mutual fund fees? See below a second opinion doesn’t hurt.


You are juggling with a career decision, raising a family, savings for kids college or paying off a mortgage.  May be wondering if you are doing things right.  Will you be ready to retire when you want to?  Are you maximizing your workplace benefits?  Investing in the right mutual fund(s) for you and your family?  You have an HSA at work but not sure if you should use it or stick with the traditional health plan. Do you need life insurance for your family and how much?  Do you know social security is a form of life insurance? Are you a current DIY person or do you already have an advisor?


Late-Career –


You may be looking forward to the day that you can retire and live life on your terms.  On the other hand, maybe you love your job and want to continue to work. At this stage you are wondering when you will know that you have enough to retire.  How do you start withdrawing that money? The withdrawing part can be both a strategic one but also a psychological one because you have been in the contribution phase for so long.


At this stage your wondering when best time to take social security?  How do I figure this whole Medicare thing out?  Do you need long-term care insurance? If you haven’t paid off your mortgage yet your wondering if you should before you retire. Is everything in place with your estate plan?  For example, (is the will done, do beneficiaries know whats going on, do you need a trust, have a durable power of attorney).  How are your investments doing and have you been getting the kind of service you want from your advisor?


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If you would like a second set of eyes to look at what your doing financially schedule an appointment here.  The first meeting is free and is an opportunity for us to get to know each other further to see if we are the right fit.