Why You Need A Financial Planning Specialist!
When it comes to preparing for your future you don’t want to leave your money in the hands of a novice or unprepared team. What you need is a financial planning specialist to help you meet your goals and prepare you for whatever life has to throw at you. While some people advocate for the “go it alone route,” I’m not convinced that’s the right move for everybody. In fact, there’s a lot of reasons why you should invest in a financial planning specialist to increase your wealth, and here are some of the best.
- You own your own business
- You want to set up college funds for multiple children
- Planning for retirement
- You want a holistic approach to financial planning
- Peace of mind
You own your own business
When it comes to running your own business, staying on top of your financial records and bookkeeping is paramount. Hiring a financial planning specialist can not only help you navigate the financial obstacles that come with being self-employed, but they can help you when it comes to preparing for your taxes. A lot of people miss out on increasing their wealth due to improper asset allocation and tax mismanagement. If you aren’t making the most out of your tax deductions when you run your own business, then you’re missing out on money that could be put into other ventures such as a college fund account, retirement plan, and more. Financial advisors can help you navigate the best options when you are self-employed.
You want to set up college funds for multiple children
While the doors to opening up a 529 college savings account have been made easier due to the internet that doesn’t mean there aren’t specific situations where opening different types of accounts could benefit you. There are multiple types of college fund savings accounts and each come with their own benefits and drawback. A financial planning specialist can help you navigate these waters to maximize what you want. Also, a financial planning specialist can help you have a hierarchy of goals and help you stay on track with what’s important.
Planning for retirement
One of the most important reasons to hire a financial planning specialist is to help you plan for retirement. With high-earning individuals, maximizing retirement accounts post-tax and pre-tax can often become confusing. Not to mention, you’ll want to meet a certain threshold to maintain your lifestyle in the future. Managing multiple properties, investment portfolios, and knowing how you plan to retire are all very important steps to living a fulfilling life. A financial planning specialist can help you achieve this and much more! Invest in yourself with a fulfilling retirement.
You want a holistic approach to financial planning
One of the many specialties of a financial planning specialist is to take a holistic approach to your finances. From maximizing tax deductions to handing down wealth to future generations, a financial advisor helps keep your goals at the forefront of your financial portfolio. They can help you prepare documents and update you on your financial progress. Don’t go it alone, have someone with the expertise in your corner.
Peace of mind
Lastly, when you work with a financial planning specialist it can give you peace of mind in multiple ways. First, you know that you are staying up to date with the latest and greatest financial advice from someone that has not only gone through schooling but is required to be certified either as a CPA or a CFA. Second, you won’t fall for some scam or somehow mismanaged your money. You can rely on experts who can maximize your portfolio. Third, you don’t have to micromanage this process, which means you can focus on other important things.
Are you interested in talking with a financial planning specialist about your financial situation? If so, we can help. At Sheffield, Trackwell, and Rapp we can help you plan for your future and make sure you are ready for retirement. Contact us today to find out more.
