Do you think investment advisors are just for the wealthy?
According to a recent study, an estimated 29% of Canadians use the help of a professional financial planner—and they’re not all rich or heading into retirement.
When your tooth aches, you visit the dentist. If you have a persistent cough, an appointment with your doctor is in order.
Same goes for personal finances.
You may have recently inherited some money, begun saving for your first home or decided to start a family. Perhaps you’re thinking about retirement and wondering if your money will last your lifetime.
Regardless of your situation, there are many reasons to hire a financial advisor.
#1 Financial Planning is More than Investing
A good planner does much more than invest your money. They help you identify your life goals and then develop a realistic roadmap to attain them. Whether you’re considering ways to save for your children’s education or you recently lost your job, a financial planner is an important step in securing your future.
#2 Financial Planning Requires Discipline
Your advisor helps you make better personal financial decisions. He or she will keep you accountable and motivated in a number of ways. They may recommend making monthly payments into your RRSP, suggest ways to pay down debt more quickly or provide options for financing your new home.
#3 Buy Low and Sell High
It’s tough for most of us to stay on track when markets nosedive. Even savvy investors are tempted to sell when stocks tank and then buy after years of stellar returns, even though that’s the exact opposite of what you should do. A good advisor will encourage you to buy low and sell high, helping you maximize your investments over the long term.
Regardless of your situation, an advisor is a wise investment. Don’t leave important financial decisions to chance—take care of your family’s future with professional advice.