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Turnkey Real Estate Investing

4 min read

15 Compelling Reasons to Consult a Financial Advisor

Thu, Jan 18, 2024

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It might be cliché to think of a new year as a clean slate, but it can still be a beneficial way to think about it. Besides getting in shape, financial health is one of the top priorities among those who make New Year’s Resolutions. Regardless of where you are with your financial goals, now is a great time to refocus. And what better way to do that than through a financial advisor?

The primary goal of a financial advisor is to help clients make informed decisions about their money, achieve their goals, and secure their fiscal well-being. You may think you have it handled, but an advisor can help you develop a game plan objectively and effectively.

15 Reasons to Utilize a Financial Advisor

Reason #1 – Financial Planning

The first (and obvious) reason to consult a professional is to help you develop a comprehensive financial plan tailored to your goals. You could employ many strategies to get where you want to be – but what’s most effective for you and your resources? A financial advisor lends actionable clarity to your wealth-building ambitions.

Reason #2 – Investment Guidance

While there is a difference between a general financial advisor and an investment portfolio advisor, they can still be valuable. They create an investment strategy with you that aligns with your risk tolerance, time horizon, and objectives. 

Reason #3 – Risk Management

Do you know how to think about risk? How can you really tell what risk you’re comfortable with? An advisor identifies and manages potential risks to your wealth, including insurance needs and risk exposure within various investments.

Reason #4 – Tax Planning

Savvy investors know just how crucial solid tax planning really is. Your advisor optimizes your tax strategy to minimize liabilities and maximize available tax-saving opportunities. While a CPA can handle your taxes, they may not be experienced with your situation or its complexities.

Reason #5 – Retirement Planning

These days, a comfortable retirement is a harder ask than ever. Few companies offer pensions anymore, and the cost of living is prohibitive for saving – even if you could save enough to compensate for inflation. An advisor understands your retirement needs, determines an appropriate savings strategy, and helps you navigate retirement income sources.

Reason #6 – Estate Planning

What will happen to your wealth after you’re gone? An advisor ensures that your assets are distributed according to your wishes, minimizes estate taxes, and establishes a plan to transfer wealth to future generations. That peace of mind is priceless.

Reason #7 – Debt Management

Wise financial decisions aren’t always easy to make on your own. Let your advisor develop a plan to manage and reduce debt, including strategies for paying off high-interest loans and credit card balances. They can also let you know when you risk over-leveraging.

Reason #8 – Education Funding

Are you prepared for the kids going off to college? Let your advisor offer guidance on saving and investing for education expenses for yourself or your children. It’s never too early to plan for the future.

Reason #9 – Budgeting and Cash Flow Management

Budgets are easier said than done. Let the experts help! A budget and cash flow plan manages your day-to-day finances and keeps you on track to achieve your short-term and long-term goals.

Reason #10 – Life Changes

Major life events such as marriage, divorce, the birth of a child, job loss, or inheritance can throw your financial plans for a loop. An advisor’s expertise means bouncing back better than ever. Get their expert opinions to navigate these changes with ease.

Reason #11 – Market Volatility

We all know how unpredictable the economy can be. Get assistance in navigating market fluctuations and making informed decisions during economic uncertainty.

Reason #12 – Specialized Knowledge

It’s a big ask to keep up with all things economic. Tap into the expertise of financial professionals who stay abreast of market trends, investment options, and changing regulations.

Reason #13 – Behavioral Coaching

Everyone has a different relationship with finances. An advisor can help you sort through an unhealthy or misguided money mindset. If you don’t like talking about finances, struggle with impulse control, or never can seem to follow through with good decisions, get professional help!

Reason #14 – Financial Education

Gain a better understanding of financial concepts and investment options through an advisor. It empowers you to ask better questions and make the best decisions available.

Reason #15 – Peace of Mind

Finally, enjoy the confidence of having a well-thought-out financial plan and a professional advisor to guide you. Nothing beats having peace with your wealth!

When choosing a financial advisor, vet them thoroughly. Select someone with the appropriate qualifications, experience, and a fiduciary duty to act in your best interest. It also helps if they’re experienced in the investments and strategies you wish to pursue!

Need help crafting your real estate investment game plan in 2024? You’re in luck – our portfolio advisors are waiting to hear from you!

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Chris Clothier
Written by Chris Clothier

Entrepreneur, writer, speaker, ultra-endurance athlete, husband & father of five beautiful children. Chris puts these natural talents on display every day. As a partner at REI Nation, Chris addresses small and large audiences of real estate investors and business professionals nationwide several times each year. Chris is also an active writer, weekly publishing real estate, leadership, and endurance training articles.