For many individuals just starting their career, retirement feels like decades away, literally. For those that are nearing the age of retirement, they might feel it is too late for a financial advisor. But I’m here to say it’s never too late for guidance and support to help you reach your financial goals. 

Below I’m going to take a deeper dive into the three main reasons you might need a financial advisor in your life. If these reasons resonate with you, let’s chat.

Lack of Time and Expertise

Managing your budget, retirement fund, and investment portfolio are important jobs, but jobs you might not always have the time for, or the expertise to accomplish successfully. That is where a financial advisor comes in to help. 

Your advisor will take a cohesive look at your financial situation as a whole, including income, monthly expenses, debts, and loans, and provide objective recommendations to create a fitting budget. 

In addition to considering your personal finances, your advisor also brings a wealth of knowledge regarding the current market and industry trends in order to help you make the best decisions. 

Regardless of your knowledge and experience in the finance world, some individuals find it difficult to commit when it comes to investing. An advisor can help research the best options for your current and future goals so you can make the financial decision backed with the resources and knowledge you need. After investing, a financial advisor will monitor your investment performance and continue to make necessary recommendations so you don’t have to.

Major Life Changes

One of the major factors that prompt the need for financial guidance is significant life events or changes. These changes can include marriage, divorce, growing family, career advancement, new caregiver responsibilities, or any other life event that changes your financial picture or outlook. 

Typically these major life changes result in increased financial complexity, family disputes, new goals, and new risks. A financial advisor can work to help you navigate the tricky new situation you find yourself in. If your life change resulted in loss of income, you can work with your advisor to restructure your monthly budget so as to not zap your savings account or retirement fund. If your life change has led to increased income or lump sum inheritance, an advisor can provide guidance on how to best invest your extra profits efficiently. 

Unrealized Goals

Retiring by the age of 65, building a house, paying off debts, building a savings account are all examples of great financial goals. But how are you going to achieve these goals? The “what” is easy, it’s the “how” that is difficult. Luckily, how you can reach your goals is exactly the sort of support a financial advisor can provide for short-term and long-term goals alike. 

Once they have a clear picture of your current situation, an advisor can prepare a roadmap to get you where you’d like to be. 

Contact us today!

All-in-all, a financial advisor’s main goal is to learn their client’s situation, provide advice and recommendation, and guide you on your journey to financial success and accomplishments. At Montgomery Financial Partners, our aim is to make our clients feel supported and confident in the choices they are making to achieve their unique financial goals.

Securities offered through Registered Representatives of Cambridge Investment Research, Inc., a broker-dealer, member FINRA/SIPC. Advisory services through Cambridge Investment Research Advisors, Inc. a Registered Investment Advisor. Cambridge and Montgomery Financial Partners are not affiliated.

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