When should I talk to a financial advisor?
This question comes up all the time in conversations,especially with young professionals – how much money should I have if I want tostart investing? When should I work with a financial advisor?
It’s a hard question to answer, because investing is notone-size-fits-all and is inherently risky. One way to think about this that ismore nuanced is with some personal questions and considerations that could begood to discuss with a financial advisor.
Consideration – I have my budget and an emergency fund inplace. What do I do with any extra money? Invest, or pay down debt?
If you’ve already handled the basics of financial health and you have extraincome, investing may be an option to explore. A financial professional canhelp you understand the pros and cons, and importantly, discuss the risks ofinvesting in different instruments.
Consideration – I’ve had a change in my financial life andI’m wondering what this means for me.
Perhaps you’re making money for thefirst time, or got a raise, or received an inheritance. Maybe you got engagedor had a child. A trusted financial advisor can help explain changes, things tothink about, and opportunities that a financial change can bring about.
Consideration – I have a retirement plan available to me viamy workplace OR I don’t have a retirement plan available to me via my work.What should I do?
Whether you do or do not have aretirement plan offered to you at work, if you have enough cash flow to fundyour expenses and still save, you may benefit from talking to a financialadvisor about longer-term options like retirement planning. An advisor couldhelp guide your investment selections in a 401(k), for example, or help set upa solo plan or SEP IRA if you have the means to save into it.
Consideration – I want more return on my money, and I’mwilling to learn about risk.
Investing inherently is about balancing the monetary return to the client with the riskthat the client is willing to bear. This is essential to investing and it isimportant to discuss with your financial advisor the risk that your investmentsare taking on. Need to understand more about risk and investing? That is absolutely a conversation to have with a financial advisor.
GET IN TOUCH
If this question resonates with you, take a moment to reflect on where you are today. The answer may be less about investing and more about understanding what you're investing for.
.png)
Download Guide
.png)
Rachel Webster
Subscribe
Get Paid to Go to School: If Only it Were That Easy
Millions of kids growing up around the U.S. dream of becoming college athletes. For most, this is merely a dream. I was fortunate enough to be able to live out this dream. Two of my favorite things in the world are sports and numbers so I found some statistics about college athletics provided by the National Collegiate Athletic Association (NCAA).
Read Now >>
Scaling Your Business: Building What’s Next With Purpose and Precision
There comes a moment in every business where the way forward demands more than grit—it demands structure. The early traction is there. The offering is working. But now the stakes are growing, and so are the questions.How do you scale without losing control?How do you grow your team without diluting your culture?How do you evolve your role as a founder or leader—and still stay close to the purpose that started it all?
Read Now >>
Legacy Planning vs. Estate Planning
For entrepreneurs, few decisions carry more weight than how wealth is managed and passed on. Yet in conversations about planning, two terms are often confused: estate planning and legacy planning. They are related, but they are not the same. Estate planning is about distribution. Legacy planning is about direction. Understanding the distinction matters. Estate planning answers what happens to my wealth? Legacy planning asks the deeper question: what happens because of my wealth?
Read Now >>
