You may need pro advice
According to the 2021 Retirement Confidence Survey, only 29% of respondents felt “very confident” that they would have enough money on which to live comfortably throughout their retirement. That’s troubling.
Many of those folks would do well to consult a financial professional for help with saving, investing and planning for their retirement. There’s a good chance that you’d benefit from professional advice, too — even if you’re still relatively young.
There are important financial issues to consider and deal with throughout our lives, especially around key life events, such as marriages, divorces, purchases of homes, the birth of children, paying for college, the death of parents, and so on. A good adviser can help you prepare for or deal with such events in ways that can minimize headaches and save you money. They can also help you save and invest effectively for retirement, deal with retirement accounts when you change jobs, avoid or minimize estate taxes, advise you on insurance you may need — such as disability, long-term care and umbrella — and maximize your ability to care for those who depend on you, such as children or elderly parents.
See? That’s a lot to deal with, and most of us don’t know enough to make smart decisions about all those issues. There’s no shame in seeking professional help from a good adviser. You don’t want to fork over a meaningful percentage of your assets for guidance, but if you’re charged a flat fee of several hundred dollars (or more), there’s a good chance the cost will be more than offset by the savings.
We favor fee-only advisers, as opposed to those who collect commissions for selling you financial products. You can find a fee-only personal financial adviser near you at NAPFA.org or a certified financial planner near you at LetsMakeAPlan.org. At sites such as SEC.gov/ check-your-investment-professional and CFP.net/verify-a-cfp-professional, you can check many advisers’ records, verifying credentials and looking for red flags such as disciplinary actions.
A good adviser can lead to a lot of peace of mind.