Do you hear people talk about their “financial planner” and wonder if you should have one, too? If you have financial goals but you’re not sure how to achieve them, then, yes, a financial planner might be just what you need.
What does a financial planner do…exactly?
A financial planner will work with you to define your financial goals and understand your life insurance needs. They will then create a path, with specific steps along the way, to help lead you to those goals.
Plan…Protect…Provide
Most people look at their financial situation in three parts: plan, protect and provide. A good financial planner can help by providing advice for all three of these.
1. Plan
A good financial planner will create a plan only after assessing your current financial situation and asking about your future goals. You can get a head start on this process by using a tool like My Insurance View from ivari.
2. Protect
Life insurance, critical illness insurance and long-term care protection should all be considered a part of your financial planning. There’s no point in planning for financial security without also protecting it.
3. Provide
Most financial planning includes legacy planning. Legacy planning is how you prepare to leave your assets to a loved one, next of kin or even a charity. A financial planner can help you organize your assets to maximize the amount that is passed along while minimizing the amount paid in taxes after your death.
Sources
- Anspach, Dana. 2022. "How a Financial Planner Can Help You Meet Your Goals." The Balance . February 22, 2022. https://www.thebalancemoney.com/what-will-a-good-financial-planner-do-for-me-2388442.
- Beck, Rae Hartley. 2024. "How To Choose A Financial Advisor." Forbes. August 29, 2024. https://www.forbes.com/advisor/investing/how-to-choose-a-financial-advisor/#304fd1965499.
Disclaimer
This article is intended for general information purposes only and should not be considered specific or personal investment, insurance, estate planning, legal or tax advice or a solicitation to purchase insurance. Nor should any medical information provided in this article be considered medical or health advice and should not be considered a substitute for advice from a qualified medical professional. While reasonable efforts have been made to ensure that the contents of this article have been derived from sources believed to be reliable and accurate at the time of publication, ivari does not warrant the accuracy or completeness of the information contained herein.
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Categories
- Life insurance
- Personal finance and saving