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Do I Need a Financial Advisor? 

For many people, the thought of working with a financial advisor may seem like overkill—indeed, millions of Americans manage their finances on their own without any external support. However, whether you need and could benefit from the services of a financial planner depend on many factors. Before you rule out working with a financial advisor and assume that you should go at it alone, consider the following—

How Complex Are Your Finances?

One of the first things to ask yourself when thinking about whether you need to work with a financial advisor is whether your financial situation is complex. Your situation may be complex if you are self-employed or own a small business, have inherited a large sum of money, or own multiple properties or have multiple investment portfolios. Note that as you get older, your financial situation may become more intense even if you don’t experience big life changes. This is because most people start to earn more, invest more in their retirement accounts, contribute to an HSA, buy life insurance or/and other insurance policies, and more. Managing all of this can be complicated without the help of a financial professional. 

How Comfortable Are You Managing Investment Decisions?

Whether or not your financial situation is complex, another reason to work with a financial advisor may be to get help managing your investments. If you’re struggling to understand the differences between retirement savings accounts and other investment portfolios, aren’t sure what it means when an account is tax-advantaged, don’t know how much you should be putting away into investments savings each month—or where that money should be invested—or have other unanswered questions, working with a financial advisor is recommended. A financial advisor can work with you to design an investment strategy that matches your goals and your risk tolerance. 

What Are Your Financial Goals—And Do You Know How to Achieve Them?

When thinking about whether you should work with a financial advisor, it’s important that you understand your financial goals. Do you have any big life events that you’re planning for, such as getting married, buying a house, having a baby, saving for your child’s education, or retiring? If so, do you know how much each of these events will cost you and will you be prepared to pay for them? By working with a financial professional, you can start setting financial goals and developing a roadmap to achieving those goals. 

Call Top Investment Solution Today

At Top Investment Solutions, we understand that your financial health is an important component of your overall wellbeing. To learn more about our financial advising services and how to get started, reach out to our professionals online or by phone today.

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