4 Situations That Benefit From The Advice Of A Financial Planner

For most adults, managing their money and reaching financial goals is a big priority. While there are some situations where a person can make decisions on their own, there are others that can greatly benefit from having the professional advice of financial planners. An experienced and reputable financial planner can be an excellent resource. You should consider hiring a financial planner in the following situations:

Nearing Retirement

People plan and save their entire adult life in order to fund their retirement. However, when retirement actually nears, it is not uncommon for people to have a lot of questions. One of the main reasons to hire a financial planner when you're nearing retirement is to determine if you're actually financially prepared enough to retire. A financial planner can review your assets and various accounts and investments to see if it is the right time to retire.

A financial planner can also provide useful information on how and when you should file for Social Security so you can begin receiving retirement benefits that you have paid into. In addition, your financial planner can devise a strategy for withdrawing funds from your different retirement accounts so that your needs are met while also making your money last as long as possible.

New Family Member

Welcoming children into the world is a joy, but at the same time, it is the beginning of a lot of financial responsibility for new parents. When a new child is born, it is a good idea to see a financial planner who can help you balance all of your new financial responsibilities. A financial planner can assist you in choosing a life insurance policy, creating college funds for your children, estate planning, and ensuring that you're able to continue to fund your retirement accounts while taking care of your family. 

High Income Earner

If you're a high-income earner, you can save up a lot of money, but you may have no idea what to do with it. An experienced financial planner can assist you in choosing the right investments so you can grow your wealth instead of just leaving extra money in a low-yield savings account. You can count on your financial planner to make investment recommendations based on your personal situation.


Being self-employed has a lot of advantages, but it can also come with financial questions. If you're self-employed, a financial planner can help you with different retirement account options, and how to deal with an income that may be variable. With the assistance of a financial planner, you will be able to grow your business as well as your net-worth.