Many people wonder whether or not financial planners are worth it. I myself was in that boat a few years ago, and have been through quite a bit of my own testing and research.
The first thing to do if you’re considering hiring a financial planner is to make sure you find a “fee only” planner. This means that at the end of the day, they aren’t going to have any financial motivation to keep you coming back, or suggest options that benefit themselves more than you.
If you’re on the fence about hiring a financial adviser, you should do it. It’s important to do your research and look around for a knowledgeable planner with good reviews, as they can help you avoid financial complications in the future.
Hiring a financial adviser is recommended during any time of change, as well as when you’re thinking about investments or retirement. If you’re looking at making a major change in your life that could potentially affect your income, a financial adviser is a great idea.
Likewise, if you just went from making $30,000 a year, to $100,000 a year, it’s important to have a game plan to make the most of that money. The same is true in reverse, making your money last and multiply is always the end game.
Overall, I definitely do recommend finding a qualified financial planner, as long as you can be sure that there’s nothing financial compromising with their advice.