Chances are that if you’re asking yourself whether or not you need a financial planner, you probably need one. In the modern world, just about everyone can benefit from the advice of a financial planner, but there may come a time in your life when hiring one as soon as possible is an obvious decision.

You Started Earning an Income

Many of us spend the first part of our lives in school, learning skills to later apply in a career. This can leave us in a lot of debt and inexperienced with the tax system, budgeting, different savings vehicles, and so on. A financial planner can help you allocate your pay cheques to make sure you achieve your short and long-term goals while enjoying your newfound income.

You’re Starting to Save a Lot Each Month

Once you’ve reached the point where you are starting to save each month and earn more than your living expenses, it’s a good idea to start figuring out what to do with that money.

The average interest rate on savings accounts is a lowly 0.06%. You can do a lot better than that with the help of a financial planner. Most financial advisors will be able to help you achieve a rate of return that is several times higher than a simple savings account, while keeping your money safe and protected.

You Have Specific Goals You Want to Achieve

Let’s say that you want to buy your first home, have another baby, retire when you’re 55, reduce taxes, or leave a legacy to your family. An experienced financial planner will be able to help you create the plan that will move you closer to these goals. They can help you understand the vehicles available to maximize your growth while minimizing risk and taxes.

You Aren’t Sure If You’re Saving Enough

Although it’s never too early to prepare for retirement, many people start around the age of 40 to 50. If you have just started to prepare for retirement and you aren’t sure if you are saving enough money, it can be a good time to meet with a financial planner. They’ll help you accurately anticipate your future needs and ensure that you’re putting enough away each month.

You Don’t Have a Strategy for Economic Downturns

Economic downturns are inevitable, and you’ll want to have a solid strategy to deal with them when they occur. Diversification may be part of the solution but not all of it.

Any good financial planner will be able to provide you with expert guidance on how to prepare for both recessions and economic booms. This way, you can continue to be comfortable and work toward your financial goals even when the economy isn’t cooperating.

Zavitz Insurance is now offering a full range of financial planning services, customized to the needs of each of its clients. Get more information by e-mailing info@zavitzinsurance.com or by calling 1-888-347-2437.