Where To Get Sound Financial Advice

Fri, Apr 20, 2012

Financial Advice, Investment

Sound financial advice is paramount to maintaining a strong footing in tough economic times. Managing money, and budgeting for expenses, seems like an easy enough thing on the surface, but depending on what kind of investments you have, property you own, assets at your disposal, etc., it can prove to be a very daunting, burdensome and stressful situation.

Even if you are quite adept at managing your personal finances, a skilled advisor can be extremely valuable. A second set of eyes can identify a hidden tax pitfall, an miscalculated volatility measure or even provide assurances for your peace of mind that you haven’t missed a critical consideration. All of these reasons support engaging a professional who can provide you with sound financial advice.

There are many options for obtaining sound financial advice, and depending on what you need, you can probably find just the right fit. Here is a rundown of some of the most common sources of sound financial advice:

Certified Financial Planner

As their name implies, certified financial planners will help you formulate a financial plan that best suits your needs. A financial plan will outline your expenses, your budget, your earnings, assets and investments. A financial plan will also help manage outstanding debts and help plan a path toward paying off the debt in a responsible fashion. The certified financial planners kep function is to provide a person with piece of mind.

Here are some reasons why a certified financial planner may be right for you:

  • You feel the need to have better financial planning, but do not know where to begin.
  • You lack the time, energy and focus to do it yourself.
  • You have a plan developed, but want a professional’s evaluation of it.
  • You lack the expertise to do it yourself.
  • You have an immediate need to get a financial plan mapped out.

Certified Public Accountant

Certified public accountant’s are the best option for people that need help specifically with tax-related issues. Certified public accountants are also useful for business-related audits, bank loans and the management of personal trusts and estate planning.Tax laws are always changing and it is difficult to stay on top of them by yourself and a certified public accountant can do all that stuff for you- it is their job, after all.

Here are some reasons why a certified public accountant may be right for you:

  • You have an Individual Retirement Account (IRA) or Keogh Plan.
  • You have a pension plan, but have no idea how to manage it.
  • You do not know where your income after retirement will come from.
  • You have difficulty figuring out a life insurance policy.
  • You have no idea what the future needs of your family will be, especially when adjusting for future inflation rates that may occur.

Estate Planning Attorney

An attorney who specializes in estate planning will help you figure out all the finances associated with the value of your personal belongings, assets, business holdings and other financial resources. Estates include anything from property like a home or land, personal belongings, interests and investments in corporations, rites from lawsuits and structured settlements, personal funds and funds related to business partnerships and joint ventures, trusts and joint ownership arrangements.

Here are some reasons why an estate planner may be right for you:

  • You may qualify for gift taxes and estate taxes.
  • You have an interest in wills and trusts.
  • You are concerned with investment rights.
  • You need help with allocation of property you own.
  • You need help to appoint a trustee to your estate.
  • You need help naming a healthcare proxy.
  • You need to designate an executor and legal guardian to carry out your will.

Even the most financially savvy investors understand the benefit of a trusted financial advisor. Warren Buffet, perhaps the most famous investor in history, relies on his lieutenant, Charlie Munger to provide insight that Warren might have missed.

Written by Peter Phillips for clearyournamefast.com, specialists in helping you manage your personal reputation, through DUI expungement and other record suppression recourse activities.

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