Anyone can benefit from the services of a financial advisor, yet as many as 62 percent of adults never speak to one about their money. Many would rather take care of their finances on their own, and many others believe that they simply cannot afford the services of a financial advisor. While it is true that it does cost money to hire a good financial planner and that there are plenty of people who can handle their own finances without any help, there will come times when you almost certainly need help from a finance professional. Here are a few situations where you should contact a financial advisor in RI.
You Don’t Want to Deal with Your Money
Some people simply don’t like to think about their money. Either they simply don’t have a head for it, or their interests lie elsewhere. Nevertheless, they still need to be able to manage their money and not make any costly mistakes with it. If this describes you, you can definitely benefit from speaking to a financial planner in RI. A good financial planner can help you decide how to invest your money, balance your accounts, and otherwise do all the financial work that you either cannot do or do not want to handle. As long as you have enough assets that you can invest, a financial advisor will be able to help you.
You Want to Plan for Your Financial Future
This is probably the most common reason why someone would hire a financial advisor. You might think that your financial future is secure if you have enough assets that you can invest, but it’s also very easy to lose those investments after a few costly mistakes. Whether you want to be able to live comfortably until it’s time for you to retire or you want to make enough money to retire early, a financial planner in Rhode Island like Balanced Wealth Management can provide you with a solid plan.
All of Your Savings are in Cash
It’s important to have at least some money in your bank account in case of an unforeseen emergency, but you will also need to make some investments if you want to plan for your retirement. Simply put, cash in a bank account won’t accrue enough interest to make for a viable investment. Even if you feel secure in how much cash you have saved up, a financial advisor can help you find a good mix of stocks and bonds that can help your funds grow so you have more than just cash when it comes time for you to retire.
Your Investments Keep Losing Money
Finally, you definitely need the help of a financial planner if your investments keep losing money. This obviously means that you’ve either made some poor investments in the past or the financial landscape has changed since you made your initial investments. You may need some help diversifying your assets or simply monitoring your finds, things that a financial planner can do for you.
How Balanced Wealth Management Can Help You
If any of these scenarios apply to you, don’t hesitate to contact Balanced Wealth Management for a consultation. We can provide you with a financial plan that includes asset allocation, maintenance of mutual funds, rebalancing accounts, retirement planning, and other services that can improve your financial standing. This process begins with a complimentary consultation in which our advisors help you determine your financial goals for the future. Based on your bank account values and the various investments you have made, we can help you decide how you would like to proceed in a way that is the most affordable and beneficial to you. For more information about how our RI financial advisors can assist you, contact Balanced Wealth Management today.