4 Times You Should Consider A Financial Planner - Genisys® Credit Union

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4 Times You Should Consider A Financial Planner

on 7/17/2019

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Planning for retirement? Having a baby? Looking to invest in stocks, but unsure where to start? Juggling these tasks on your own can become overwhelming, but with the help of a financial advisor, they can guide you through the process in helping it all make sense. 

Financial planners assist in implementing strategies to help you make healthy financial choices and achieve those financial goals. If you are considering any of the four points below, reaching out to a financial advisor will be beneficial.

1. You’re Planning A Big Life Change

Marriage is a huge life change. Two lives are merging to one, and that often includes finances. If you’re planning to get married soon, you may want to look into getting financial advice from a planner. Combining finances with your partner can be a touchy subject. With a financial planner, they can guide you through the accounts to combine and which to keep separate. Whatever your financial needs may be, they can keep you on track so you and your partner are on the same page.

You’re having a baby, congrats! With a new addition to the family, comes new expenses. New parents may need to adjust their current budget to accommodate the baby’s expenses - which can be quite costly. Setting up a college savings fund may seem like a premature decision for new parents that are overwhelmed with baby duties, but sitting down with a financial planner will help guide you through all financial plans you have for your new baby.

2. Your Debt Is Out Of Control 

If you are consumed by debt and need to get ahead of it, contacting a financial planner can put the control back in your hands. Whether it’s student loan debt or credit card debt - your financial planner can help you map out a plan for repayment that makes sense for your current budget. They examine your financial situation to discuss and identify existing and potential problem areas. 

Since your financial planner will need to assess your entire financial situation, pay stubs, tax returns, credit card bills, etc. are needed. Though this might make you uncomfortable, this is necessary for the planner to get a better idea of how to help you. Remember, you are coming to them to help get a hold of your debt so you can move forward with your financial goals. 

3. You Need Help With Your Retirement Plan 

No matter if you’re in your 20s or 40s, you should have a retirement strategy. But how much should you be saving? When you’re younger, you take advantage of your employer's 401(k) Plan because you know the importance of saving for retirement, though retiring is in the distant future. Once you’re nearing mid-30s and 40s, you may have a better idea of what retirement looks like for you. Want to retire on the beach? Or maybe you want to live across the country? Whatever retirement looks like for you, a planner is key to helping you decide how much to save to be on track for your dream retirement. 

4. You’re Interested In Investing, But Not Sure Where To Start

Knowing where to begin when investing into the stock market is key. Oftentimes, people are interested in investing, but are too afraid they’ll lose money or aren’t sure if it’s the right time. Investing in the stock market is one of the most powerful tools to help build wealth, so consulting with a financial planner to help with an investment strategy - and take a bit of guesswork and pressure off the situation - could lower the risks. 

If you can relate to any of these situations, whether you’re having a baby or planning for retirement, a financial planner can guide you through the steps to ensuring you achieve all of your financial goals. 

© Genisys Credit Union and www.genisyscu.org, 2019.  Unauthorized use and/or duplication of this material without express and written permission from this site’s author and/or owner is strictly prohibited.  Excerpts and links may be used, provided that full and clear credit is given to Genisys Credit Union and www.genisyscu.org with appropriate and specific direction to the original content.







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