Bring Clarity to Your Finances™

Clarity Financial Planning Services is an advocate for your financial future who takes a holistic approach to your needs and goals.

Want to Save and Reduce Debt? Consult a Fee-Only Financial Planner

Most of us have some kind of debt that we are obligated to pay and at the same time we owe it to ourselves to prepare for a time when we will no longer work.

Kiplinger.com addresses a question that is probably on the minds of many people these days: “Should I Save for Retirement or Pay Off Loans?” This type of question does not have a one-size-fits-all answer. However, when you consult a Fee-Only financial planner, you can receive guidance that is tailored to meet your specific situation and financial goals.

There are some circumstances where it might make sense to concentrate on paying off loans. For example, Kiplinger.com says you should consider paying off loans, “if the rate you pay is higher than the rate you can earn on investments—and you are saving enough for retirement to get an employer match.” 

However, they also point out: “If you skip saving entirely for a few years while you pay off debt, you could give up free money and valuable tax breaks that you can’t make up later.”

Also, remember that loans and retirement are not your only financial obligations. Financial planning can help you examine your overall financial picture. Sound financial advice may even prevent you from taking out unnecessary loans so that figuring out how to reduce debt, fund your retirement and live a full life in the present does not seem quite so daunting.

Bringing clarity to your finances requires an advisor who pays attention to all aspects of your financial life, has excellent communication skills, and has the commitment to be available when you need advice and support. Your needs come first when you work with Clarity Financial Planning, and you can expect unbiased advice on all aspects of your financial situation when you enter into a long-term relationship focused on protecting your assets and guiding you towards the future you deserve.