The Lifestyle Benefits of Professional Financial Planning

If you’ve literally been losing sleep over your finances, you’re far from alone. Estimates suggest that over half of all American adults lie awake at night worrying about money matters.

Worse still, we’re living in unprecedented times. If planning for financial security felt precarious before the pandemic, we would ask has your outlook on the future improved?

If you’re beginning to doubt that you’ll ever find the solid ground you’re looking for, financial planning may be the right choice for you. Financial planning gives you access to an extensive range of services you can’t afford to pass up, from one-on-one customized guidance to addressing concerns and fears to addressing risk.

Here are a few of the most compelling reasons to partner with a financial advising team in the RIA space that works as a fiduciary.

Set and Reach Long-Term Goals

On a fundamental level, all financial planning services are designed to help people set and reach their goals.

If you have not created a direction or your vision of the future seems cloudy, financial planning can help you find more direction and purpose. If you have a detailed picture of what you want your future to look like, partnering with a team of financial advisors can help you chart a course to reach it.

This shouldn’t come as a surprise to anyone who has ever looked into research on goal-setting. Studies show us, time and time again, that writing down your goals is what leads to success. In fact, writing down your goals can make you over 40% more likely to follow through with them in some cases.

A financial advisor can help you set achievable goals, review them often, and educate you on what you need to do to reach them.

Develop a Holistic Plan

For most of us, immediate financial concerns are at the forefront of our thoughts. Given the financial ramifications of the pandemic, more people than ever are concerned about their ability to meet financial obligations or keep their savings in place and on pace.

While day-to-day needs are important, it’s just as important to keep your future finances in mind.

Holistic financial planning is an approach designed to consider your life and finances in a comprehensive way. This includes three major pieces: your current needs, your future goals, and the hurdles that stand in the way. It can also extend to the legacy you plan to leave behind.

A wide range of services should be included in your holistic planning, from tax and insurance planning to wealth management to estate documents to helping you plan for college. Each of these are important to your journey and all of the pieces of your planning puzzle are important to consider.

A reputable advisory team that partners with you, will help keep all these and more aligned with your dreams for the future.

Enjoy Confident Money Management

If you’re tired of worrying about your financial questions, the right advisor can help.

Our team of experts tailors our holistic financial planning with respect to your lifestyle, encouraging you to live the life you want with a realistic outlook on future plans.

A solid financial plan promotes wellness by taking into consideration your life as you know it today and your brightest potential future. You can also be confident that your plans for savings, debt, expenses, investments, and generosity have been considered with care. Financial planning also provides guidance for the decision-making you’ll need to tackle, removing a great deal of emotion and stress from even larger decisions.

As a result, you’ll find that one overarching benefit of financial planning is that it takes the mystery out of your money. After all, when you understand the plans you want for your life, and the path you’ll need to take to get there, you can manage your money with more confidence and peace of mind.

Avoid Emotional Decision-Making

Psychologically speaking, our relationship with money can reveal a lot about us. That’s because all of us react to money—a source of security, self-esteem, and more—on an emotional level.

This, in turn, makes it harder for us to make logical, objective decisions about our own finances. We’re simply too close to our own situation to remove emotions from the picture.

That’s where sound financial advice from a professional can help. This can be helpful when you’re having a gut reaction to market volatility, considering an impromptu investment, or wondering what to do with a sudden windfall such as an inheritance. In these situations, a financial planner can step in to cut through the chaos and offer objective advice.

Relying on logic and data instead of emotions can help you establish and stick to the financial goals you’ve set for yourself.

Lowering Financial Risk

When you manage your own finances, especially without a financial background, it can be difficult to wrap your mind around one key element of managing a portfolio: risk.

Determining your risk tolerance and purpose for the money are critical components in deciphering your expectations. It is important to note that there is no such thing as wrong risk tolerance. The key is aligning your risk tolerance with the right mix of investments and ensuring that the account aligns with the purpose.

A financial planner can not only help you understand your risk tolerance but also guide you to the choices best suited for that tolerance and purpose.

Find the Right Financial Planner for Your Needs

Regardless of your current stage of life, everyone could use a financial planner to help secure their future goals and offer expert advice.

If you’re looking for the right professional to partner with, consider working with our team! We’ll take time to review the details of your current financial situation, discuss your goals for your future, and help you establish a plan to get there. Partner with us today to see what expert financial guidance can do for you.