Today, it's easier than ever to go online and get all kinds of information about the latest mutual funds or other investment opportunities. Plenty of people use self-serve retail brokerages and apps to manage a portfolio by themselves. But while there are benefits sometimes to going it alone, there are certain situations where having a dedicated financial advisor you can sit down with in person might be a good idea. Here's why you might want to form such a relationship with someone today.
- In handling wealth management issues, it's common for clients to ask professionals how much effort they should put into either preserving or growing their wealth. To a certain extent, growth is a preservation method in wealth management planning. However, it's wise to seek an appropriate balance between the two and to recalibrate your approach as circumstances change. Let's look at how a wealth management advisor helps a client accomplish this.
- Do you take advantage of the gift tax exclusions on your taxes? If you're not already aware of these IRS provisions, the chances are that you're not using them to their full effect. Doing so, though, benefits you in a variety of ways. Here's what you need to know. What Are the Gift Tax Exclusions? You may not realize that large gifts to individuals are subject to the federal gift tax, paid by the donor.
- If you are just starting your adult life and want to begin by making wise financial decisions, you might want to visit an investment planner for some advice. Making wise financial decisions while you are young is helpful for your future, but it might also be confusing. Many young people do not even know where to begin when it comes to investing and planning for the future. If you have questions about this but want to handle it wisely, you should visit an investment planner.
- Are you starting to think about your retirement planning and are not sure where to begin? If so, you may want to schedule a visit with a retirement planner. Retirement planners help people like you create plans for their retirements, and they often focus on four primary principles. Here are the top four principles they may focus on when meeting with you. 1. Saving More Money Now The first principle is saving more money right now.