8 signs it’s time to engage a financial adviser
Life is a team game, the world is the playing field and you want to put yourself in the best position possible to win. To do this, you want specialists in each of the different player positions who are 100% aligned with your unique objectives, values and goals. While almost anyone could benefit from working with a financial adviser, there are certain times in life where you will be glad to have a financial adviser on your team. If you are not already working with a financial adviser then reach today so you area ready to capitalise on any life event coming your way.
1. You have a major life event
Every major life event triggers a change in financial circumstances and that change can bring on a large amount of stress. Whether it is marriage, having kids, buying a house, retirement, work promotion, redundancy, health issue - your life is about to drastically change. This is why having a relationship with a financial adviser is helpful in navigating through the change and making sure you have considered all scenarios, assessed the risk and/or opportunity and have a strategy plan in place to either pivot the plan or gain assurances your existing plan provides enough resilience to sail uninterrupted through unchartered waters.
2. Your household income increases
If your salary or expected profit increases, putting in place a financial plan can help keep you grounded and ensure you don’t fall victim to lifestyle creep or short-term satisfaction (which has the potential to erode wealth and forego long-term gain). Don’t get us wrong, we support raising your standard of living particularly if it’s aligned with your core values but keep in mind your future as well. A financial adviser can help you take a step back and look at the big picture, enabling you to use this income wisely supporting you now and your future.
3. You find yourself with an inheritance
Your family member worked hard for this money so you should want to make sure it is used wisely. As fun as it would be to go spend it, that’s usually not your best option. Before you make any decisions, consider how your life could be better enriched by paying off debt, investing, buying a house, renovating, etc.. Having a financial planner can help you model different scenarios so your inheritance can make a lasting impact on your life.
4. Complexity arrives on your doorstep
Life can get complex all of a sudden. You may have sold your business, starting a side hustle, sold your home, taken on more debt, welcomed a baby into your life, etc., life can move from simple to complex quickly. This is a great time to start working with a financial planner to ensure you make the right decisions during these times. Better still, having a relationship with a financial adviser well in advance of this gives you sufficient time to plan, seize opportunities and maximize the options you have.
5. You are going through a divorce
We don’t wish this anyone. Divorces are messy, emotional and can quickly drain your financial and emotional resources. You have to divide assets and make some really hard decisions. Do not go through this alone, let a professional help you create a plan so in this emotional time of life you do not get overwhelmed by the process and your finances are not the sole focus.
6. Too busy not to have an adviser
Life is crazy busy for most of us. Many people defer getting their financial house in order as it always sits in the ‘I’ll get to that tomorrow’ basket and it never gets sorted. It feels like there is always another task to do. For many people, engaging a financial advisor is all about taking tasks off their plate. It’s the same reason many people have someone clean their house, cut their hedge, mow their lawn, walk their pets. For all of us, time and knowledge are limited. You are not expected to be an expert at your financial affairs and it makes sense to leverage off the skillset of a financial adviser to reclaim time to focus on tasks you enjoy and are good at. If this is you, it may make sense to hire a financial adviser to help give you back time in your schedule.
7. You want to repurpose your life
If your higher self is calling you to follow a dream or purpose, then stop and listen. Maybe it’s starting a business or leaping to a new career, whatever it may be, you owe it to yourself to explore this inner calling and take steps towards unpacking your call to action. At Liberty Life, clarifying values and identifying goals is a big focus at the start of our work with our clients - and we revisit these each year. We help people align their money with their purpose. If this resonates with you or you are curious to understand more then compete this quick online survey (and we’ll reach out to you). One small step can have a profound change on your life trajectory.
8. You’re suffering paralysis by analysis (content overload)
You want to get your financial life structured for success but you may be overwhelmed by the options and information out there. You may be unsure which direction best suits your unique situation and so you continue asking yourself “Who, what, where, when and how?” and get no traction or you have attempted a way forward but unsure if you are on the right track. We help people tune out the ‘noise’ and focus on what they need to get financially resilient and prosper. We help make the “Who, what, where, when and how” questions crystal clear and also provide you with the “why” which is the most important. The “why” is the meaning behind it all, it’s the motivation and adherence to your life goals and helps you navigate through any of the above life events.
Now is the perfect time to engage a financial adviser. To find out more about how we support our clients to through major life events then book a time with James Gray.
