Hiring a financial adviser is not just for the rich or for those in a financial crisis. A personal finance adviser can help you to make the most out of your money and build a better financial future for your family.
So, what are the real benefits of having a financial adviser?
Help to plan spending and saving
By having a savings and spending plan, you can build assets which will not only help you pay for holidays and luxuries but could also help you plan for the future, too. With the help of your adviser, plan out your spending so you know how much money can be set aside each month. From this, you’ll be able to figure out what you can save to help build your money pot.
Help to plan for retirement
When it comes to retiring, the sooner we plan for it, the better it will be. With the national retirement age currently at 65 and set to reach 66 by 2020, it’s more important than ever to get ahead of the game. Planning for this, however, can be complicated and there are many different options available. Your financial adviser will sift through the different products available and come up with a proposal of the best options for you, to help maximise your long-term prospects.
They help you invest in the right assets
Investment for most is quite a scary prospect. There are positives and negatives when it comes to investing your hard-earned money, but your financial adviser will be able to assess the risks associated with each before you take any action. High returns on investment are often associated with high risk, meaning you could lose money overnight. While not many people like this idea, your adviser will make a detailed assessment of how comfortable you are with certain risks before doing anything with your money. Investing your money with someone trusted could be beneficial for a stable financial future.
They can recommend the right financial products for you
From shares to ISA’s and savings accounts, your personal financial adviser will be able to recommend the perfect products for you based on your current financial situation. They can look for the best interest rates on the market, the best ISA offers and any pension plan incentives that you might benefit from.
Whether you need general and practical advice or someone to help you invest your money, hiring a specialist could help you get on top of your savings, plan for your retirement and make decisions that could help improve the future for and your family.