Financial Planning Put Your Future on Track

In life, one of the things that makes most of us feel secure is money. At the same time, one of the things in life that stresses us out the most is…money. Isn’t that ironic? Yet it is true. In fact, not saving enough money for emergency expenses is the number one financial regret for 16% of all Americans.

Financial planning and saving for the future pose a challenge for many. According to FINRA’s Nariona Finance Capability Study, less than half of Americans, 46%, have a rainy day–or emergency–fund. And according to The Associated Press-NORC Center for Public Affairs Research, those who would have trouble getting $1,000 in an emergency situation total 66%, or two-thirds, of Americans.

Clearly, there is a need for a financial planner in the world of most Americans. But what is a financial planner? A financial planner is a qualified professional who will manage your finances while planning for and ensure that you are financially secure in retirement.

This may have several dimensions: your financial planner may come up with an investment plan for you as well as devising you in retirement planning. In addition, a financial planner will project the outcome of your investments and your savings. But perhaps the most important thing that a financial planner does is help you get your finances organized and under control.

Once this is accomplished then a financial advisor can come up with investments plans that are specifically suited to your individual requirements and your own particular financial situation. Many employees, for example, are stressed about their finances. In fact, 52% of employees in 2016 reported experiencing some kind of financial stress.

Millennials–employed, working and trying to make it financially– are definitely in this category, experiencing a lot of financial stress, and would benefit from the help of a financial planner. The source of their stress is student loans. Actually student loans are carried by 42% of Millennial employees, and of this group 79% cite the student loans as a reason that their financial goals are not being met as yet.

Another group stressed out about money and in need of good, solid financial planning is retirees. A majority of retirees, 67%, depend on Social Security as a major source of income, according to a 2017 statistic. This is two-thirds of all American retirees. Clearly, it is in their best interest to plan ahead financially.

Finding a financial planner you can trust and are comfortable with is a key move towards financial security. Not only that, but it is also clearly a step in your money management and retirement planning that will bring you peace of mind for years to come.

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