Who Needs a Financial Advisor?

It’s hard to know if you need a financial advisor if you’re unfamiliar with what a financial advisor can do for you in the first place. A financial advisor is just a professional who can assist and guide you in your decision making regarding things like investments, retirement, insurance, college planning and the list goes on. Anyone who has a decision to make about any matter that involves their finances and is not very knowledgeable of the subject could use assistance from a financial advisor. As stated above, there is a wide array of different areas of finance where people could use some guidance. This could be a person who is settled into their career and wants to focus on building their retirement savings or it could be a high school student who is looking towards the future by saving for their college tuition. People of many different ages and occupations seek financial advisors for help. Explained below are some of the different people who need a financial advisor.

Busy Professionals

When you have a demanding career, it can be hard to find the extra time to sit down and carefully look at your finances. By hiring a financial advisor, you can have them do the work for you and also have peace of mind about your finances since they are the professionals. Sometimes it’s worth spending the little bit of extra money just so more time can be allocated to more important aspects of a person’s life.

College Students

We’ve all been there eating a PB&J while scrambling to write a last minute paper that’s due in an hour. There’s plenty to worry about in college let alone wondering if you are using your money wisely. This is where a financial advisor can come in and help college students create a budget that will fit their lifestyle while also possibly investing some of the money that they’re saving to make a profit.

People Close to Retirement

Usually, people who are close to retirement become anxious and want to seek a financial advisor to make sure they are on the right path with their finances for when they do retire. Most people tend to be their own financial advisor as they begin saving for retirement and then later end up seeking a financial advisor for advice. It’s important that they are on the right track that will set them up for a comfortable retirement and financial advisors can help with this.

Celebrities

Celebrities out of all people seek financial advisors due to the amount of money they are bringing in. It can prove to be challenging to try and keep up with such finances on your own. Even NBA superstars like Lebron James have financial advisors who help them keep their finances in check.  On the other hand, Rick DeVos has become his own financial advisor in Grand Rapids, Michigan through his vast studies of investments and finance.

These are just a few of the different types of people who look to financial advisors for guidance. It all really depends on a person’s situation for if they need a financial advisor or not. One of the financial advisors that we lean on for assistance is Kroon & Mitchell located in Grand Rapids, Michigan. They offer a wide array of services that go beyond just financial advising, but also tax services and investments. They offer a Certified Public Accountant (CPA) and Chartered Financial Analyst (CFA) at their office.

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