The services of financial advisors and planners aren’t only for the wealthy or those approaching retirement – everyone can benefit from the advice they provide. Whether you’re 21, 41 or 61, you can improve your financial situation and enhance the lifestyle you lead by seeking financial advice on many things, from reducing debt to creating wealth and even starting a family. Here are five great reasons for seeking financial advice today.
- Buying a Home or Investment Property
Buying your first or second home is a big decision and there are many choices that you will need to make. By seeking advice from the experts at Elders Financial Planners, you’ll be in a much better position to make the right choices about how you budget, prioritise your finances and save for a deposit.
- Starting a Family and Raising Children
Starting a family and raising children not only requires money but time as well. By working with a financial planner to budget, save for schools and take time off work to spend more time with your kids, you’ll find that you’re better able to make the right financial decisions.
In addition to financial decisions, you will also need to make decisions about your will and how to provide for your family if you were no longer in the picture. A good financial advisor can help you make these important decisions.
- Paying Off Debts Quickly
Repaying your mortgage and other debts as quickly as possible enables you to reduce the overall amount of interest that you pay on the loan. However, the best way to do this may not be to channel all your savings into your mortgage repayments but invest it in stocks and shares instead. By seeking advice from a financial advisor, you can set up a great strategy to repay your debts quickly and reduce the interest incurred on your loans.
- Managing Risk
Risk is inherent to investing, borrowing and saving, so you need to manage financial risk efficiently to secure your financial future. It’s worrying how many people fail to effectively manage risk and allow their savings and investments to be unnecessarily affected by market turbulence and other factors.
Financial advisors are experts in risk management strategies and can help you devise the best plans to manage investment and related risks, ensuring that your investments and savings aren’t placed at risk unnecessarily.
Naturally, you’ll have your superannuation to provide you with an income in retirement, but will it be enough to provide you with the funds to enjoy a comfortable standard of living? By seeking advice from a financial advisor, one well-versed in retirement income generation strategies, you can put the right plans in place to make sure your retirement is comfortable.
No matter how old you are or what you plan for your retirement years, you’ll find that seeking financial advice from an experienced advisor has so much to offer you – why not take the first step on your journey to a financially independent future by contacting a local financial advisor today?