Should I hire a Financial Advisor/Financial Planner or should I DIY my money?
I spent about a decade working in corporate finance and in that time I considered myself savvy when it came to my money. After all, I was a Finance graduate who loved to read Yahoo!Finance and Nerdwallet in my spare time.
While I did many things “right” with my money in my 20’s, what I have since realized is that you just don’t know what you don’t know and becoming a Financial Planner and going through the CFP curriculum (along with the working experience of helping many clients with financial planning) has made me keenly aware of the many mistakes I’ve made along the way. That’s a blog post for another day but today I want to go into the scenarios that should prompt you to speak with a financial planner/advisor and decide for yourself if it makes sense to get some help.
I think often times for motivated professionals the goalpost is to get the well paying job and finally feel like you’ve made it. For many this comes with years of sacrifice to get your professional degree, potentially six figures of student loans and countless hours honing your skills.
What’s often missing is the financial education on how to optimize your money and keep more of it (between strategic tax planning, investing for the future, spending below your means, using credit cards responsibly, protecting yourself in case of a disability or death).
While I love the internet and reading about personal finance, I’ve also realized that not everyone is like me. And I guess that’s a good thing, because I’d probably be out of a job if everyone loved personal finances just as much ☺
Some important milestones that come to mind include:
The reality is that making good money is only one part of the puzzle to being financially successful. I’ve seen doctors in their 40’s with no investment accounts and I’ve seen retired teachers with multimillion dollar accounts.
As the saying goes “It’s not what you make, it’s what you keep” and that is true for anyone who wants to build true wealth, become financially independent one day and have complete freedom over their time. It takes thoughtful planning to optimize your money. While it’s not rocket science and I think anyone is capable of managing their money and creating a plan, you don’t have to go it alone.
Reach out if you’re on the fence and want to explore the different ways we can work together.
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. This information is not intended to be a substitute for specific individualized tax or legal advice. We suggest that you discuss your specific situation with a qualified tax or legal advisor.