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Prime Time for Financial Planning?

Many of us assume the services of a financial adviser are most appropriate for people who have more money than they know what to do with.

But say you stand somewhere in between. You meet all your expenses, you have your debts under control, and you've set aside a cash reserve that would carry you through several months should a financial emergency arise. Beyond that, you have additional money that you've begun to invest to build your financial future.

Does this mean you've reached a point in your life when you could benefit from professional financial planning services? 

A financial planner can evaluate your overall financial situation including your budget, savings, investments, retirement plans, taxes, estate planning, and insurance. From there, they can also recommend strategies that will help you reach your financial goals.

To decide if seeing a financial planner would be a wise move for you, ask yourself seven questions:

1. Am I confident about making financial decisions?

2. Am I knowledgeable enough to begin my own long-range financial planning?

3. Do I know enough about my investment options to work effectively toward my short-term and long-term objectives?

4. Do I expect my present income and investment approach to provide for my retirement years?

5. Am I comfortable with my level of debt?

6. Is my household income less than $50,000 a year?

7. Do I have enough time and knowledge to devote to analyzing my family's financial situation?

If you answered "no" to some of the above, it may be in your best interest to seek professional financial planning advice. 

It's wise to check the education, experience, and credentials of any financial planner you decide to hire. First Florida members have access to a financial consultant by scheduling a meeting in person or by telephone at (800) 766-4328, ext. 4225.  

Copyright 2017 Credit Union National Association, Inc.