Four good reasons to seek good advice

Peter Bowman

Most of us make financial decisions every day. When we pick up bread and milk on the way home, visit the local shopping centre to do our weekly grocery shopping or even just pay the bills, we’re confronted with lots of opportunities to spend money.

It’s a pity that we don’t always give ourselves the same amount of opportunities or time to plan and save money. Seeking financial advice from a qualified financial planner is one way we can make this happen, and if you’re looking for a place to start, Financial Planning Week is a good starting point. Financial Planning Week is an initiative of the Financial Planning Association (FPA) and in 2010 it will run from 24-30 May. During this week, the FPA will seek to help raise the Australian community’s awareness of the importance of seeking advice.

And there are some really good reasons to seek advice.

Financial planning advice gives you the ability to set realistic goals

Most people have financial goals, and they usually look something like this: I want to pay the mortgage off sooner; I want to retire at age 60; I want to save enough money to live off so I don't have to work for a living. A financial planner will be able to review your personal situation to ensure that the goals you set are realistic and can be achieved within an appropriate timeframe.

Financial planning advice provides you with motivation and support

Think of any sport star or entertainer of note. They all have one thing in common – access to coaches and experts who help them do what they do to. Even Roger Federer, the number one male tennis player in the world, has a coach to help him stay at the top of his game. A financial planner can provide this kind of support for your financial life, which can be very empowering in helping you realise your goals.

Financial planning advice provides you with clarity and peace of mind

Financial planners deal with clients’ financial affairs every day, covering a range of areas including investment, superannuation, retirement and Centrelink. While there is a lot of information available, a financial planner is able to look at your personal situation and objectives, create strategies that meet those objectives and provide advice to you in writing. This is really important if you are seeking the help of an expert to help you understand your options and provide you with a pathway for success.

Financial planning advice helps you to protect what’s important

Many financial planners offer personal insurance advice as a part of their service. This is really important if, for example, you’ve got a mortgage on your home. If you or your partner became ill or disabled and unable to work, could you still afford your mortgage if you didn't have an income? Protecting what’s important to you should also form a part of your financial plan and a financial planner will be able to help you make sure that it does.

So if you’ve been thinking about employing a financial planner to work with you to achieve your financial goals, now might be a good time to start. The website you’re looking at now has some useful advice on how to select a financial planner who can work with you.

If you liked this article you might also be interested in these other articles about financial planning advice:

Breaking the cycle

Making money from your 20s to your 70s

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Tags: financial planner, financial advice, financial planning, money management advice

Author's Biography

Peter Bowman, Head of Marketing FSP Group http://www.fspgroup.com.au

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