About Me

Providing a nest egg for my children

I think it's getting harder and harder for children to get a solid financial start in life these days. I'm starting investments for my children from the time of their birth, so by the time they are old enough, they can pay for a house deposit, a wedding, their education, or start a business of their own. It's important for me to know that my children are well provided for and have all the options possible when they start life as an adult. This blog is for other concerned parents and grandparents looking to start long-term investments for their children.

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Providing a nest egg for my children

When You Need a Financial Advisor

24 February 2017
 Categories: Finance & Money, Blog

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A financial advisor is not someone who works just for the very wealthy; they can help anyone to better manage their finances, plan for the future, and otherwise be more in control of their money. If you've never thought about hiring a financial advisor or planner for yourself, note when this is highly recommended and why their services may be needed.

1. When you can't seem to pay down your debt

If you have credit card debt, student loans and the like and can't seem to get ahead of the amount you owe no matter how much you pay toward those debts, it's time to call a financial advisor. He or she can note if you need a consolidation loan or if there are some debts that should be paid off first, to save on higher interest rates. They may also negotiate with your creditors to lower or eliminate some debt.

2. When you can't get credit or loans

If you're consistently turned down for credit cards or any type of loan, you want to talk to a financial advisor about why; there may be inaccurate information on your credit report, or you may be carrying too much debt for your income. A financial advisor can help you with a plan to fix these so you can be eligible for a new loan or credit card or help you find lines of credit if you have no credit history. If you're relying too much on credit cards and loans to get you through the month, a financial advisor can also help with a budget and other assistance that can mean living within your means and not getting into more debt.

3. You have no savings or financial plan for the future

Never assume that you're too young to be worried about your savings or a plan for the future; the sooner you get started with saving for a new home, travel plans, retirement and the like, the more money you'll have built up over time. It's also easy to let a few years slip by without planning for the future, and then those "few years" become a decade or more, so that you're suddenly nearing retirement age but with no money in the bank or plan for how you'll actually retire. A financial advisor can help to devise a plan to get you on track with savings, helping you to see how much money you'll need to put away for your future plans and then also assisting with making your savings grow through investments and other such options.