Every American hopes to earn and save enough money in their lifetime to be able to retire at a reasonable age. No one wants to work until the day they die, and most Americans would prefer to only have to work until they were about sixty or so. At that time, most people hope they have enough money put away, enough investments, and a large enough retirement portfolio to be able to live out the rest of their years without ever having to step into an office again. Of course, setting yourself up for retirement is likely much more complicated than you realize. It is this complex nature of investing and retirement that pushes most people down the path of hiring financial advisors.
The average American is now spending more than forty hours per week at their job. When you add raising a family and having free time to the mix, most people simply don’t have enough time to educate themselves about their investments and their retirement plan. Fortunately, there are professionals out there who have made it their career helping people prepare for retirement. Financial advisors tell you where you should be investing your money, how much you can spend each year to still be saving what you need to be saving, and what types of investment portfolios you should be putting your money into. In short, financial advisors take care of the little details that lead you down a path of financial stability and independence.
Of course, not all financial advisors are equally adept at their jobs. To make sure you find the right financial advisor, only consider one with the following five things.
1. Experience. First, only work with a financial advisor with years of experience. It takes working in the financial services industry for a long time to fully understand how people should be investing their money and what percentages they should be investing. Don’t trust your finances with someone who just started in the financial advising industry.
2. A Great Reputation. Second, look for a financial advisor with a great reputation. Speak to their past customers and browse their testimonials to figure out what people really think of them.
3. A Proven Track Record. Third, only work with a financial advisor with a proven track record. In other words, make sure they’ve been able to help other people get to retirement in a reasonable amount of time.
4. Consistent Communication. Fourth, look for a financial advisor that communicates with you on a consistent basis. If you want to know how your investments are doing or what your plan is looking like, they should be there to talk about it.
5. Honesty. Finally, you’ll want to make sure that you choose a financial advisor who will be honest with you at all times. You need someone who can be upfront with you about how your finances are doing, a person who won’t lie just to make themselves look better. You also need someone who will push you to make investments you might be wary of if they know it’s the best thing to do. In other words, you need financial advisors like Legacy Financial Services Group.