9 great reasons to work with a financial advisor

by | Apr 27, 2023 | Rochester Hills Financial Advisors

Rochester Hills Financial Advisors – Stoney Creek Advisors

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Not just the wealthy need financial guidance; everyone may gain from it. It can aid you in making the most of your investments, protecting and growing your wealth, and securing your family’s and your own long-term future.

1. To keep your family safe

There are many different types of life insurance plans available; a financial advisor can help you decide which ones are the best investments. No matter if you’re single or married, have a young family, are approaching retirement, or have any other situation, they will evaluate it and walk you through your best options for safeguarding you and your loved ones.

2. To facilitate budgeting and saving

You must accumulate assets to safeguard your long-term well-being, first to cover unforeseen expenses and later to pay for vacations and other luxuries. The first stage is to budget your expenditure so that you can start saving, and the second is to budget your savings so that you may increase your wealth as quickly as possible. A financial advisor can assess your situation and determine the ideal place for you to start, regardless of the amount.

3. To assist in retirement planning

You can start considering the long term once your immediate needs for saving are met. Nowadays, the majority of people are aware that they can only rely on the government for the bare necessities. Retirement planning is a complicated process, and there are numerous solutions accessible. A financial advisor can help you create a portfolio to enhance your long-term prospects in addition to assisting with sorting through the numerous rules and product possibilities.

4. To protect your home

The mortgage market has always been complicated, but following the credit crisis it has become even more so because mortgages are now significantly more complicated and lenders have stricter restrictions. The majority of us require a mortgage when purchasing a home, making it one of the most expensive decisions we ever make. In situations like this, a financial advisor could help you avoid spending thousands of dollars. Not only can they look for the best rates, but they can also guide you in determining prudent borrowing amounts, maximize the value of your down payment, and even connect you with lenders you would not have known existed.

5. To aid in achieving your financial objectives

You can start thinking about how to strengthen your position rather than just consolidate it as you go through life and your assets and income start to rise. This could imply anything from considering an early retirement to funding tuition at a private school. Whatever your objective, a financial advisor can help you determine what is practically feasible and work with you to develop a plan to help you reach it.

6. To select the ideal mix of assets

Aiming for maximum growth while protecting against potential drawbacks are both important aspects of investing. Many times, large returns come with high risk, and not everyone likes to think that their investment could lose 30% or more over night! Before offering advice, a financial advisor will thoroughly evaluate your attitude toward risk. By assisting you in diversifying not only across asset classes but also between accounts, individual funds, and product providers, they will also make sure you don’t put all your eggs in one basket.

7. To get an unbiased evaluation

Every new investment opportunity or product is probably going to come with some hype, but that doesn’t mean it’s really the best choice for you. Due to their hasty entry, investors will continue to be taken by surprise by market “bubbles” or exorbitant fees. A financial advisor is knowledgeable about how products operate in various markets and will point out any potential drawbacks for you as well as any potential advantages, enabling you to decide where to invest with confidence.

Even after your assets have been put in place and are performing as expected, you should continue to keep an eye on them in case market changes or atypical occurrences cause them to veer off course. A financial advisor is someone you can ask to keep a close check on your money. They can help you compare your performance to that of your peers, make sure your asset allocation is not affected by market fluctuations, and consolidate your gains when the deadlines for your ultimate goals approach.

9. For mental clarity

There are several factors to take into account in order to safeguard and maximize your financial situation. Markets are unpredictable, and the media often exaggerates the risks and benefits. A competent financial advisor can help you through the hype and point you in the correct way. Whether you require general, useful counsel or a specialist with focused expertise, you might discover that the money you spend on expert advice will be repaid many times over in the long run.

For experienced and trusted Rochester Hills Financial Advisors, call Stoney Creek Advisors at (248) 266-2900 today!