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The Number One Tool Your Future Self Will Thank You For

There seems to be an abundance of financial planners in our communities, but do most people hire one? My research indicates there are a majority of people who do not have a financial planner, so I felt it was worthwhile to share some of the benefits that are provided by a professional advisor.

To start, I believe there are people who feel qualified to do their own investing and planning, and I also believe many of them are truly qualified to manage their financial plan. At the same time, I believe there are many more people who do not have the knowledge, ability, or time to handle this on their own.

So, what are the benefits to hiring a financial planner? The professional:

  • is specifically trained to manage money and various types of investments

  • advises regarding financial decisions

  • helps you avoid overreacting to market conditions and changes

  • assists with budgeting and tax planning

  • can share information that you might not know

  • partners with you to achieve your personal goals

Financial planning often focuses on the retirement years, but there are other areas of our lives in which a professional can assist you, such as:

  • Managing debt

  • Paying a child’s college tuition

  • Buying a new car, boat, RV or second home

  • Charitable giving

  • Tax avoidance

  • Insurance needs

  • Estate planning

Some might say they are too young or too poor to hire a financial planner. That might be true, but I believe your relationship with a professional should include an element of trust. Working over time will help build that relationship in positive ways.

If you are now convinced you need to find a financial planner who can assist you in reaching your financial goals, it is good to start looking. Here are a couple of suggestions to guide your next steps:

  • Get recommendations from friends/family members – if they like their advisor, you might too

  • Interview more than one advisor – don’t limit your search to just one

  • Learn about their fee structure

  • Be comfortable ending a relationship if you don’t feel satisfied with his/her service

  • Be honest – a professional can’t provide accurate advice if they don’t know the whole story

Contact me ( to learn more about various ways in which you can support the Foundation which helps more families realize a KML experience is possible for them.

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