In today’s climate, it’s hard to live day by day. Many factors contribute to this, such as rising prices of everyday expenses, demanding jobs, and life’s overall hustle and bustle. In the middle of it all, most people, including you, have a lot on their plate. Consequently, many people believe that most of their problems will disappear if they have lots of money.
Unfortunately, you can’t just conjure money out of thin air to make your problems disappear. However, you can plan for it, which is why financial advice isn’t something to overlook. There are many ways in which financial advice can change your financial situation for the better, but not many people see the value of working with financial advisers. For this reason, we’ll discuss the many ways they can help and why you should get financial advice.
This article refers to landmark research on The True Value of Advice conducted by IOOF in conjunction with CoreData.
#1 – It’s Hard to Make Financial Decisions Independently
With the current economic climate, it’s hard for many to make financial decisions. It’s often said that it’s harder to make important financial decisions without a financial adviser. In some cases, you may not even realise you need financial planning, but having a financial adviser can make all the difference in the world. Financial advice is often straightforward, but it can help you make critical financial decisions, so it’s an important step to take.
The True Value of Advice found that 88% of survey participants reported less worry and stress as a result of receiving financial advice.
#2 – Helps You Live a Better Life
Financial planning can help you live a better life. Depending on your financial situation and priorities, you may have bills that are hard to pay or are overspending on certain expenses. You may want to work with a financial adviser to help you with your financial situation.
For example, if you want to live a comfortable life, you need to take steps towards getting there. This may mean getting a savings account, paying off debt, or investing in an investment portfolio. By consulting with a financial adviser, you can work towards these goals to help you live a better life.
#3 – Hiring a Professional Is Hiring Their Expertise
When you hire a professional, you’re not just hiring their ability but also the trust in their knowledge. As the adage goes, “you can’t beat experience”. Financial professionals have been helping people with their financial situations for a long time, so they have the experience needed to help you. In addition, they have the education and knowledge required to help you find the best way to solve your financial problems and achieve your financial goals, which can save you time and money.
The True Value of Advice found that 91% agreed that receiving advice helped them to achieve their financial goals.
#4 – Different Services Are Offered
When you hire a financial adviser, they can provide you with various services. These include but are not limited to holistic financial advice, retirement planning, investment services, and others. The main goal of these services is to help you with your overall financial situation.
With different services come different fees and benefits, so you should try to find the best financial adviser possible that fits your needs.
#5 – Saves Valuable Time and Money
In a perfect world, you’d have more time and money. However, you should work with a financial adviser to save time and money since you don’t. In other words, you can use your time and money more efficiently when you plan for your future.
Time can be wasted in many ways, but in this case, it can be wasted on making financial decisions that a financial adviser can quickly solve. As for money, this can be wasted on making the wrong financial decision or not making financial decisions that could save you money in the long run.
The True Value of Advice found that 90% of respondents say financial advice has left them in a better position financially.
#6 – It’s Never Too Late to Plan For Your Finances
You might think that it’s too late to plan for your financial future by this point in your life, but that’s not the case at all. Even if you’re in your 50s or 60s, it’s never too late to begin your financial planning. Often, financial planning is a journey made up of small steps, so if you take care of things early on, you won’t have to worry about them later on in life.
Ready for the Guidance of an Experienced Financial Adviser?
Overall, financial advice is a crucial step to take. It can help you with your financial situation and save you time, money, or both. Financial planning is an investment for your future, so you shouldn’t look at it as a waste of money because it can work wonders for your life.
If you’re looking for an experienced financial adviser on the Central Coast, you can trust the team at Central Coast Financial Planning Group. We understand the different circumstances among our clients, so we develop tailored solutions fit for them to ensure that they can have a brighter tomorrow. Call us or book online to secure your complimentary first meeting with our advice team today!
DISCLAIMER: The views expressed in this publication are solely those of the author; they are not reflective or indicative of RI Advice Group’s position and are not to be attributed to RI Advice Group. They cannot be reproduced in any form without the express written consent of the author. This information (including taxation) is general in nature and does not consider your individual circumstances or needs. Do not act until you seek professional advice. Newcastle Financial Planning Group, Central Coast Financial Planning Group, Sydney Wealth Advisers, Coastal Advice Port Macquarie and Coastal Advice Ballina Byron are subsidiaries of Coastal Advice Group Pty Ltd which is a Corporate Authorised Representative of RI Advice Group Pty Ltd, ABN 23 001 774 125 AFSL 238429.