Many people are trying to reduce costs and manage their expenses in the wake of the Covid-19 epidemic. Although some might consider financial planning an unnecessary expense or a waste of money, it is possible to save money and stay ahead of the changes in the economy by building a solid relationship with a financial planner.
CFP Board is a non-profit organization that supports professional standards in personal finance planning. It emphasizes the fact that financial planners can offer more than just investment advice and stocks. It emphasizes the importance of having a long-term plan that helps people achieve their financial goals. Only individuals who have fulfilled CFP Board’s rigorous requirements can call themselves a CFP® certificant, so be sure your planner is a certified CFP® professional.
Not all financial advisors are committed to acting in the best interests of their clients. CFP Board certifies CERTIFIED FINANCIAL LANNERTM professionals as they provide financial advice to clients.
“As you begin to consider how best to manage your financial future, you should feel confident knowing that with a CFP® professional, you’re working with someone committed to providing the high standard of financial planning,”According to LetsMakeAPlan.orgWebsite.
An ongoing relationship with your financial planner can provide many key benefits, including:
- Make a plan. Planning and setting goals can be a great way to have peace of mind, especially during times of uncertainty.
- Understanding the laws. Financial planners can help you understand the implications of recent legislation regarding personal finance.
- Technology optimization. CFP® professionals are up on the latest tools for managing your money. Technology makes it possible to have faster and easier conversations about personal finances, such as stock trades, tax loss harvesting, income tax projections, and rebalancing portfolios.
- Looking at the bigger picture. Financial planners can help you look at how your financial data fits into a plan that includes cash flow, expenses and taxes. Qualified planners not only know how to keep the big picture in mind, but also how they can adapt it to changing life circumstances.
Visit letsmakeaplan.orgFor more information and guidance on financial planning, or to find a certified financial advisor in your area, please visit our Financial Planning Tips and Guidance page.
