Financial planning is about developing strategies to help you manage your financial affairs and meet your life goals – and the first step is to make sure you have access to the right advice.
If you could achieve your financial goals by simply putting money away in the bank, you wouldn’t need a financial plan. Unfortunately, life is a little more complex – it’s hard to understand the intricacies of investment, taxation and ever-changing rules and regulations, so you need professional help.
Yet many of us resist seeking advice, as if our financial future weren’t just as important as our health or our children’s education.
We often decide to manage our financial affairs ourselves, or leave it to someone we know, which is a bit like buying vegetables at the butcher’s.
Some personal finance software packages, magazines and self-help books can assist you in creating your own financial planning. However, you may decide to seek help from a professional financial planner if:
- You need expertise you don’t possess in certain areas of your finances. For example, a planner can help you evaluate the level of risk in your investment portfolio or adjust your retirement plan due to changing family circumstances.
- You want to get a professional opinion about the financial plan you developed for yourself.
- You don’t feel you have the time to spare to do your own financial planning.
- You have an immediate need or unexpected life event such as a birth, inheritance or major illness.
- You feel that a professional adviser could help you improve on how you are currently managing your finances.
- You know that you need to improve your current financial situation but don’t know where to start.
Financial planning is a specialist profession and you should make sure that you’re getting advice from a properly qualified person.
A financial planner will help you reach your goals; even if retirement may seem a lifetime away, the sooner you start planning the more likely you’ll be to achieve financial independence and peace of mind.
Click on the following link to read more from the Financial Planning Association of Australia
Call us today at Investment Options (Aust) to arrange a FREE CONSULTATION – Ph. 07 4775 5199.