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5 Ways In Which A Financial Advisor Can Help You Achieve Your Financial Goals

By Author: Rinku Mishra
Total Articles: 2

Working hard throughout our lives only for money does not make sense if we are unable to live the life that we want to, when we retire from work. Being able to live on our own terms, leading a life of happiness and most importantly, enjoying financial freedom, is what we all look forward to. This can be best achieved by availing the services of Financial Advisory professionals and organisations. They can help us plan our savings and investments in an organised manner for a financially secure and happy future.

Let us see five ways in which a financial planner cum advisor can help us realise our life goals and turn our dreams of financial freedom into reality.

1.Manage your earnings wisely

With guidance from a Financial Advisor, you can get a better understanding of how much you can save as well as the many different ways to manage your savings. Most often than not, you will be pleasantly surprised with how much extra you are able to save visavis what you originally thought, by cutting down on unnecessary expenses. You can then deploy these savings in investment products that best suit your risk appetite and your financial goals. This eventually enables you to save more and inch closer to your dreams and goals. Managing your money efficiently and wisely will allow you to live life just the way you want to. Whether you want an annual exotic vacation with your family or want to buy your dream home, a good financial plan chalked out by your financial advisor gives you the best chance to make it happen.

2.Planning for life after retirement

Planning for life after retirement is no mean task, because it is a time when your regular monthly salary stops, but your expenses continue to remain what they were. Financial planning is the best way to ensure that you continue to enjoy your life and the same standard of living, even after you retire. With proper financial advice, you can first estimate what you will need on a monthly basis at the age you plan to retire, and then plan your savings/investments in a manner that you are able to meet your expenses despite the lack of your monthly salary inflow. A financial advisor will help you plan all of this in a structured manner so that you do not have to compromise on your current lifestyle even after you retire; and can truly enjoy your financial freedom.

3.Protection against unforeseen situations

An equally important part of this is contingency planning. Expert financial advice keeps you adequately covered in case you face an unfortunate situation, whether temporary or permanent, that can have a significant impact on your life and finances. A good money management plan will ensure that in such situations, you can hold your own, and comfortably deal with the financial challenges coming your way. It will take into account emergencies and contingencies and plan for the same to ensure that you are not thrown into a financial crisis should you be confronted with unforeseen events, especially ones that are likely to have a significant financial impact.

4.Investment Advice

You can get a lot of unsolicited investment advice, but it is extremely important that you get it from a credible source. A good financial advisor will first, make you aware of the various investment avenues you can look, at as well as the attendant risks and rewards. Whether it is fixed deposits, or mutual funds or direct equity or real estate, it is extremely important that you avail the services of a qualified financial advisor. Having someone good by your side will not only help you make more informed choices, but also help you deal with the highs and lows of the market by deploying/redeploying your savings in the investment avenues that work the best for you.

5.Effective Tax Management

Good financial planning is also about effective tax management – ensuring that you optimise your tax liabilities on your investments. Financial planners and advisors can also recommend the best strategies for efficiently managing the taxes against the income from your various investments. Managing tax with proper advice can help you save more from your current earnings, which in turn contributes towards pushing you closer towards your financial goals.

While many people think that they can manage their finances on their own, seeking professional advice can be beneficial in the long run. Experienced financial advisors are well-versed with the trends and experienced to chalk out a financial plan that best caters to your personal circumstances thereby helping you attain your financial goals.

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