(435) 713-4220 info@keystone-wealth.com

7 Reasons Why You Need a Financial Advisor for Retirement and Beyond

Whether you’re 30 and starting to set your financial goals, 50 and wanting to secure your retirement plans, or 65 and approaching your final working days, financial consulting is a vital tool.

“Can’t I do it alone?” you might ask. And the answer is “Maybe”. But maybe isn’t a plan you can bank on.

Meeting with a financial advisor is the key to assessing your financial health and preparing for the golden years ahead.

Read on for the 7 reasons you need a financial advisor for retirement and beyond.

Why-you-need-a-financial-advisor-content-image
number 1 icon

DIY Financial Planning Won't Cut It

Maybe you’re good with money. Maybe you’ve handled your finances successfully so far. But when it comes to financial planning, you’ll never be better than someone who does financial consulting professionally.

You may be able to do an average job, but if you want more than an average retirement, you’ll need professional help.

In order for the golden years to actually be golden, most people have to have more than a 401K, a few assets, and social security. In reality, those income sources are usually only enough to cover the basic costs of living which doesn’t leave a lot for a leisurely lifestyle.

And when it comes to investing, those who attempt to go at it alone are at a higher risk and prone to emotional decisions regarding finances. While financial planning costs money, that’s an investment that you’ll never regret.

number 2 icon

Get an Education from Your Financial Advisor

The reality is that unless you become a financial advisor, you’re unlikely to ever understand all the ins and outs of investment, wealth planning, and retirement. And without that understanding, you’re unprepared for your future.

One of the greatest benefits of financial consulting is your instant access to an industry insider. They understand the laws, policies, and economic trends that affect your financial future. 

Part of their job is to help you be financially stable without having to learn everything that they do. They can educate you enough to enable you to make wise investments and prepare sufficiently to secure a comfortable future.

Consider it in terms of a translator. Your financial advisor speaks the language of monetary health, and while you know a few key words and phrases, you aren’t fluent. Your financial advisor can serve as a translator, making sure you understand enough to be successful.

number 3 icon

Is Your Home Also Your Retirement Plan?

It shouldn’t be! But research shows that more Americans own homes than actually contribute to a retirement plan. They’re hoping that their home’s future value will be enough to cover the cost of living after retirement.

The bad news is, that it probably won’t. Although owning a home by the time you retire will reduce your living expenses, your home isn’t a liquid asset and won’t provide regular income.

Some plan on selling their home and converting the value to an annuity, but those can be costly and may prevent you from ever seeing the full value of your home.

Don’t get us wrong. Owning a home that’s been paid off will add greatly to your monetary goals. But working with a financial planner can help you create a retirement plan that includes but doesn’t hinge on the value of your home.

number 4 icon

Your Assets Matter

Many people avoid meeting with an advisor because they don’t think that they have enough money to invest. They say things like “when I have $50,000 then I’ll meet with a financial planner.” Does that sound familiar?

Others worry that they don’t have the right type of assets or that their assets are illiquid.

But the reality is that no matter the type or total value of your assets (big or small) meeting with an advisor is for everyone. 

number-5

Do You Feel Lost?

There are so many intricacies in the investment world. And while most people feel confident about their retirement plans, the Employee Benefit Research Institute (EBRI) actually reports that their confidence is falsely placed.

Most people approaching retirement are not doing as well as thought. And part of the reason is because of confusion surrounding investments and retirement planning.

If you want to make sure that your financial future is really secure, then meeting with a financial advisor is the first step.

number-6

You Want to Make It Easy

Some people turn to a financial planner because they want the job done right and done without a lot of fuss.

When you choose a financial planner, you can also choose how much or little they are involved.

If you’re the type of person that doesn’t particularly like budgeting or managing your finances, then ask for help. For those who don’t want to have to manage all the ins, outs, and little details of their retirement plan, a financial consultant is necessary.

number-7

You Need to Stay "In-the-Know"

Let your financial advisor know how often you want to stay in contact. They may recommend annual meetings as well as quarterly reports on your financial health. 

Work together to make a plan that suits your schedule and goals. That way you can feel secure that your retirement plan is on course for success.

Financial Calculators

t

Financial Glossary

Recent Posts

How much do you need to retire?

How much do you need to retire?

I’m sure you’ve asked yourself the question as many of us have. How much money do I need to retire? Or retire comfortably, that is? Trying to figure out how much you need to retire can be one of the most difficult financial decisions you ever make. Your...

read more
keystone wealth advisors financial services

Receive a FREE Consultation

Remember This!

Using a financial advisor is really the only way to ensure that your retirement is secure and enjoyable. They can help you prepare for your financial future no matter where you are in life.

You don’t have to live through the golden years. You should enjoy them too!

Contact Keystone Wealth Advisors today for the expert financial planning you need to prepare for your future.

Read Next: What To Do When Choosing A Financial Advisor