14 Mar What’s the value of advice?
A financial advisor is a valuable part of improving your financial health.
You may be like many Canadians who don’t feel they have enough money in their savings account or a high enough net worth to seek the advice of a professional, but in fact the exact opposite is true. No matter what your circumstances, the value of having a financial advisor is undeniable.
Financial advice is tremendous at all stages in life from helping young newlyweds learn how to budget to transitioning employees into retirement. The first step towards reaping the rewards of professional financial advice is learning how the knowledge and expertise of an advisor will help you.
Here are three reasons why a financial advisor is integral to your financial success:
Grow your net worth
If you haven’t started saving yet, start now. It is never too late to secure your future financially, but developing a sustainable plan is often where investors get stuck. One of the major benefits of professional advice is that an advisor will help you find room in your budget to start saving and continuously save over time.
Plan for the future
It’s no secret that good financial decisions can enhance your standard of living and help to achieve your financial and personal goals, but it may be hard to do that if you’re living paycheque to paycheque with no wiggle room, emergency savings fund or long-term retirement savings.
Advice improves your current financial situation and will ensure that your future financial goals come to fruition. The Financial Planning Standards Council says that Canadians who do value financial advice live happier financial lives.
81% of people with financial plans feel on track with their financial affairs
62% of people with financial plans report that they have improved their ability to save
Eliminate financial stress
If you’ve ever been kept up at night worrying how you’re going to pay your bills, save for retirement or spend less, then it’s time to seek professional advice. An advisor can help ease your financial stress by developing a financial plan that sets reasonable living standards, budgets your money appropriately, incorporates both short term, as well as long term, savings and helps to prepare estate planning.
To read this article by Mackenzie Investments online, CLICK HERE. If you have questions be sure to contact Harry Perler or David Olejnik.