Ideally, you would have had a financial advisor for all of your working life. If you have no financial planner, then you should be looking for one. As you get older, your financial affairs can become more complicated. It is important to have a plan to ensure your long-term future.
Good planning now can help you have a less stressful retirement and make sure those you care about the most have their needs met as well. A financial planner can help with all aspects of your financial life including explaining your long-term care coverage or helping you find a great rate, if you don't have it.
A financial planner can help you regardless of the level of your assets. All too many people just make the assumption that you don't need a planner unless you have a high net worth. The truth is having a planner can help you achieve wealth and help you make the most of your money over the years so you can enjoy retirement with some security.
The complexity of your finances and your overall life plan have a lot to do with how often you will need to meet with an advisor. If you are about to experience or have experienced a major life event, then a meeting is probably in order. Acquiring a property, getting married or divorced, or starting a business are all examples of when you need to schedule a meeting before making final decisions.
If you don't have good insurance coverage, then this is a cause for concern. Long term care rates are much lower if you start paying in when you are younger. This can save a significant amount of money over the years.
Finding a financial planner is not difficult with the excellent online databases available from highly accredited professional organizations. Here are some tips for finding a financial advisor in the greater St. Louis area.
The Better Business Bureau is an excellent reporting agency for those seeking good financial advice. You can search for BBB accredited financial planning firms via their website. You can search directly outside the St. Louis area as well, so you have many options for the great advice.
CFP certified professionals have passed exacting tests to prove they can offer high-quality advice to a variety of clients coming from different financial backgrounds. Those in the St. Louis area should consider using the CFP database because it can help narrow down the planners based on the size of assets they are willing to manage.
Some CFPs will consider any size portfolio while some may have minimum asset requirements of 100K or even 500K. If you own a home, then your total assets may be greater than what you think. It is important to have a manager that is used to working with assets in your range.
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