The top 4 times to talk to a financial adviser
Not everyone needs advice all the time.
But there are 4 big moments in life where speaking to a professional is an absolute must. This helps you save money, stress, time and helps you avoid costly mistakes.
Here are four big ones:
#1 – Marriage, Kids and Divorce (And other major life changes)
Think of all the big events in life:
- Getting married,
- Having kids,
- Getting divorces,
- Starting a new job, or even a
- Death in the family.
All these events change your financial reality, and you often need to make some important decisions.
At the same time the emotional pressure often makes it harder to think clearly.
Who wants to think about money when you’re going through a messy divorce and a custody battle? Or maybe a parent just died leaving you an inheritance.
An adviser can give you objective guidance when you need to make decisions.
#2 – Sudden money
Sudden Money is when you all of a sudden have a large amount of money in your account. This happens when you:
- Receive an inheritance,
- Sell a business,
- Receive an insurance payout,
- Sell down your property portfolio
- Win Lotto
At this point, you probably need to talk to someone to think about investing.
Advisers are trained to help you manage that windfall wisely, to make the money go the distance.
#3 – Buying a house or an investment property
Buying a house will be one of the most expensive thing you ever do.
It will impact your finances for decades.
So you need to get advice from a good mortgage adviser. And if you’re buying an investment property, then a property investment adviser can help you avoid rookie mistakes.
#4 – When you’re thinking about retirement
If you’ve ever thought, “Will I have enough for retirement?” – that’s a flashing sign you should probably talk to a financial adviser.
A good adviser will run the numbers for you the right way. And they’ll map out a plan to show you how to get there.
Planning for retirement is math-heavy. It’s not the sort of thing you want to map out on the back of an envelope. This is your life we’re talking about. You want to get it right.
