By: Dan Cavalli Business and Money Strategist
Hiring a financial planner is a decision that should not be taken lightly. A financial planner could be all that stands between you and the path to financial independence. By simply hiring a planner, you could unlock the door to all of your financial goals.
However, financial planners are expensive and can cut into income that you can use to further your financial goals. For most people, the decision to hire a planner is based on their level of income and the amount of money that they have to invest in their future. However, many people with lower incomes can also benefit from a planner.
The following are reasons why you might wish to hire a financial planner: *Second Opinion – If you have a clear plan in mind, but wish to receive a second opinion, a financial planner can look over your plan, crunch the numbers and you have already done.
*Guidance – If you have a good start but need help with the complicated issues, a financial planner can help by providing detailed guidance.
* Hand Holding – If you are completely overwhelmed by the financial planning process, you need a financial planner. A planner can help you develop several plans that will work for your individual financial situation. All you will have to do is select the plan and implement the steps outlined by the planner.
Additionally, a financial planner can help in the following ways:
* Develop strategies for reaching goals * Offer advice for tax time * Help set priorities * Save time * Boost confidence and provide objectivity * Help with individual financial goals
There are two main types of financial planners, those that want to sell you something and those that merely offer advice and point you in the right direction. As you can imagine, planners that stand to earn a commission from selling you financial products might be more interested in selling products than providing unbiased advice. www.learnhowyoucanearn.com
But, on the upside, they are less expensive than other types of financial planners. Commissionbased financial planners are easy to find; they often work for insurance companies and small financial planning companies. They do not charge any fees up front; they make their money from the products you buy.
Fee-based planners are found at accounting firms and fee-based financial planning companies. They do not sell products at all, rather they charge for their services much like a doctor or lawyer does. You pay a set fee for each appointment based on the time spent or service rendered. These types of planners are more expensive, but they are often the most objective. If you choose to act on any advice given by these types of planners or purchase any products they recommend, it will cost you extra. free money guide here
Hiring a financial planner is a personal decision. If you feel that your financial situation would benefit greatly from professional advice, by all means, hire a professional planner.
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About Dan Cavalli He learned financial fitness firsthand. In 1995, he started his first national business with nothing, but grew it to more than 35,000 customers and $140 million in revenue in less than 18 months. “The Financial Review,“ Australia's leading business newspaper named Cavalli as one of the country's “Internet’s Untold Millionaires.“ More recently, Cavalli's mission has shifted to helping others achieve similar success. He is the author of the internationally sold financial book, "Blueprint for Making Millions."