Search Results for: blog should you get a financial planner

Avoid Financial Surprises During Your Retirement

The subject of how much money a person needs for retirement is a tricky one. Each person’s needs are slightly different, which can make for difficulty in deciding what a good amount is. There are also some things that you may not think about which may come up later on and cause trouble. One of the most difficult things to think about or discuss is health care. No one likes to talk about it because as we grow older, many things can happen with our health. We may be affected by a major illness, for example, or arrive at a … Continue reading →

When You Are Swimming in Debt

Have you ever seen HGTV’s “My First Place”? It’s about first-time home buyers looking for the perfect place to call their own, within a set budget. I’m always amazed by how seemingly transparent they are with their finances. I’ve seen a few episodes where the buyers freely divulged how bad their credit scores were as a justification as to why their budget for house hunting was so low. Another episode followed a guy as he tried to repair his credit while house hunting. The show documented the jockeying he did with lenders as he waited for his score to improve … Continue reading →

We’re Broke! Why Do We Need a Financial Planner? Part 2

Once you have made the commitment to achieving financial independence and have selected your advisor, the next step is the discovery interview. It is at this point that your planner will be attempting to ascertain how you feel about money. While that may sound pretty straightforward, money is a highly charged matter for most of us; it has come to represent many of the key structures of our lives—like security, safety, power, prestige, independence, and even love. In American society, money—how much we have, how we earn it, and how we spend it—has become a stand-in for our moral character. … Continue reading →

We’re Broke! Why Do We Need a Financial Planner?! Part 1

After my divorce, the financial planner who had worked with my former husband and I continued to call me every six months or so, wondering if I was ready to put a new financial plan into place. I was flattered, if a little confused, about why he was bothering with me. I had primary physical custody of our infant daughter, I was receiving no financial support from her dad, and I was working for a notoriously underpaying local non-profit. Let’s face it, I was broke. The answer to the question, of course, is that it is an undisputed fact that … Continue reading →

Budgeting Help for a Single Parent

You know you SHOULD do a budget, but you may find yourself living paycheck to paycheck and being too tired, overwhelmed or uneducated to know how to go about designing a budget that will actually reflect your family finances and help you to plan for expenses. Where can you turn for help and what can a single parent do to learn more about budgeting? Help with budgeting may be as close as your bank or credit union. Many have customer service individuals who may be able to help you and more and more banks have budgeting information available with online … Continue reading →

Fee Based vs. Commission Based Financial Managers

When it comes to money advisors and managers, there are really two main types: fee based and commission based. While most people hate to pay someone to manage their money, the reality is… these individuals are doing a job and need a way to make a living. Which one should you chose? First, accept the fact that if you hire someone to do something, you will have to pay them. Commission based money managers can be as expensive or more than fee based. Often the main difference is how you pay them. Commission based planners and stockbrokers take their money … Continue reading →

Only You

Only you truly care about your money. It is very important to keep that point in perspective. That salesman at the mall, the customer service representative at the bank, even your financial planner does not care about your money the way YOU do. This is a critical fact to remember. You are your own best money manager. Now, I know you may not believe me, but this is absolutely true. Only you can judge your true needs and goals. Only you know how much risk you can tolerate. Only you know what amount of savings and investments feels the most … Continue reading →

When You Need Cash

Do you need more cash flow? Well, there are really only three ways to accomplish this. Let’s discuss them. Earn more money. The best ways to earn more are: • Ask for a raise. Seriously, why not? Think hard about your accomplishments and provide a good case. It doesn’t hurt to ask. • Take on a second job. Seasonal labor is always in demand. You can help a retailer over the holidays or a gardener in the summer. Depending on your skills and time, there are almost limitless options. • Look for freelance opportunities. Can you “sell” one of your … Continue reading →

A Financial Planner to Save the Marriage

Following along with the rest of my blogs this week, I wanted to also visit another option for money fighting. If your relationship is having some serious financial disagreements, it may be time to call in a third party. When couples fight and can’t get to solutions, often a marriage counselor is recommended. If these fights are mostly about money, it may be better worth your time (and money!) to hire a financial planner instead. The goal of any third party in a relationship struggle is to help bring in an unemotional, uninvolved person into the couple’s battle. If this … Continue reading →

Seek Financial Assistance

Are you getting calls from creditors? Do you live from paycheck to paycheck? Are your retirement years sneaking up on you? Did your business recently fail? If you are here reading this blog due to financial problems in your life, I want to tell you… don’t be afraid to get financial assistance. Problems with money are often treated with the attitude, “if I ignore it, it will go away.” But, just like a medical problem, ignoring your money problems will not make them go away – it usually only makes them worse. What is often hard to admit is that … Continue reading →