Fitness is a buzzword in our culture and we spend a lot of time trying to get fit or lamenting that fact that we are not as fit as we would like. And when we think about fitness, we often associate the term with being physically fit…but what about financial fitness? If you are concerned that your finances are not as they should be, a Fee-Only financial advisor can help you get into better financial shape.
A financial advisor can help by:
Trimming the fat (from your budget). This does not necessarily mean that you can’t spend any money or have any fun; what it does mean is that having an expert take a look at how you spend your money—from credit card debt to insurance policies. A financial planner can help you choose the financial products that will be most beneficial for your lifestyle and goals.
Encouraging you to exercise restraint. Many of us know just what we need to do, but we may not do it if no one holds us accountable. A financial advisor is not there to scold, but rather to remind you of what it will take to maintain your lifestyle and reach your retirement goals.
Guiding you in choosing tools to develop investment muscle. You can choose where to invest your money and you may do fine, just as you can exercise at the gym on your own…but you might get develop a stronger portfolio or get bigger muscles if you consult an expert.
Claire Emory MBA, CFP, CFA and other Fee-Only financial advisors who are part of the highly respected Fee-Only holistic financial advisor network Alliance of Cambridge Advisors (ACA) have access to sophisticated spreadsheets and other tools to analyze client financials according to their needs and goals.
However, you can get a sense of where you are before you visit a Fee-Only financial advisor by using this free ACA online exercise to Gauge Your Financial Fitness.