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Advisors can also help you identify people to make decisions when you can’t, like a health care proxy and an executor.
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Whether you’re looking for home insurance, life insurance or even annuities, a good financial advisor can help you find the product that best fits your needs - and point out any holes in your coverage.įinancial advisors can help get your important paperwork - such as wills or revocable living trusts - in order. They can come up with a budget so you can use or save money more efficiently. They may evaluate your withholdings and suggest adjustments, if necessary, to help you get more money on payday.Ī financial advisor can pinpoint opportunities to help you reduce expenses.
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The right financial expert can help you limit your exposure to taxes as you work toward other financial goals. They can also help you rebalance your portfolio - for example, by moving you from stocks to relatively safer options like mutual funds or ETFs - to ensure it matches your level of risk tolerance. Things financial advisors can do to help youĪ financial advisor can ensure you’re maximizing retirement-specific tools like your 401(k) or Roth IRA so you can maintain your lifestyle after you retire.Ī financial advisor can evaluate your debts and create a repayment plan for you to follow, so you can prioritize those that should be paid down first and save money on interest in the long term.įinancial professionals can recommend specific products that make sense for your investment strategy. Here’s a list of issues financial advisors may help you with: Services financial advisors offer Just make sure the financial professionals you’re considering have the skills, knowledge and experience to help you with your specific financial needs. You may need more than one kind of financial plan, and that’s OK. Step 1: Identify why you need financial adviceįinding the right kind of financial advisor is easier after you determine why you need one.Īre you early in your career and want to know how much - and how - to save for your financial goals? Are you paying for your child’s education, or navigating finances during a divorce? There’s likely an advisor for your specific situation.