If it seems crazy paying someone to work out what to do with your money, you might wonder how a financial advisor can help you.
The first thing is that you probably will not be paying them out of your own pocket. They will normally earn a commission on the products that they sell you. So perhaps it is not as mad as all that, after all.
It is all about goals. A financial advisor Jacksonville will talk to you about what you want to achieve. They will definitely talk to you about retirement, and how you might finance it. They will also talk to you about the other things in your life, like mortgages, the children’s tuition and school fees and the things that you might want to do with your life in the long term.
A financial advisor will also talk to you about ways in which you can save money and ways in which you can invest it.
The rules are complicated
There are lots of rules about how money can be invested and when tax hits and what you can do with it. If you decide you need some short-term insurance just in case something happens to you to make sure health coverage is in place over a difficult period, there are ways to do it. But in some policies, even if you don’t need the policy, you don’t get the premium returned.
A financial adviser is bound by the rules of the state to provide you the best advice they can while at the same time acknowledging they earn their daily bread from the products they sell you.
If there is something you want to achieve and you will need money to do it, starting with a financial adviser is one step towards your goal.