When’s the Best Time to Talk to a Financial Advisor?

When a major life transition is thrust upon you, dealing with your finances can be overwhelming. Starting your first job, getting married or divorced, preparing for retirement, or finding yourself inheriting a large sum of money are some examples. Consulting with a financial advisor is extremely important in these situations. Seek financial advice that aims to satisfy your needs rather than sell a particular product. Reacting responsibly to a life transition financially will warrant a plan based upon your goals – and navigating each transition needs to be treated uniquely and specifically.

Ideally, of course, seeing a financial advisor is a good idea in general. But when it comes down to it, bigger life-changes are a must. If you’re getting a new job and you haven’t budgeted your newfound income, inefficiencies and waste are bound to occur. Getting divorced can put lots of stress on both parties involved, especially during the post-divorce adjustment period. Even receiving lots of cash from an inheritance can cloud your judgement and cause hasty decision-making instead of choosing disciplined money-saving options.

Don’t misunderstand the role of a financial advisor: the right kind of advisor will help you make informed financial decisions with your best interest in mind, and no one else’s. Rather than reacting out of fear or impulse, it’s generally wisest to consult a financial planner who will come alongside you during life’s transitions and help you make the wisest financial choices you can.

Below is a link to seven specific instances where you may find it helpful to talk to a financial advisor: