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Frequently Asked Questions

Can financial planners really help?

Financial planners can help you with more than just retirement. You can find a certified professional today that will help you save money for college, purchasing property or even figuring out how to take that dream vacation. They can help you find money to save without having to restrict your spending.

What's different in using a certified financial planner?

There are two types of financial planners. Those that are certified and those who are not. When you work with an uncertified planner that doesn't mean you are not getting the same level of service. The difference between the two is that a certified financial planner has taken and passed the most rigorous exam in the field. When you choose a CFP then you know you are using a professional that understands all the tools at his or her disposal.

How can a financial planner help my business?

You can find a financial planner that specializes in helping businesses. There are plenty of ways your business can benefit including finding affordable employee benefits or reducing the interest rate on a loan. If you want your business to move ahead then you are going to need financial guidance. They can help with the budget, filing taxes and finding investment routes to help expend your value.

What's a fee only financial planner?

Financial planners normally take payment in two fashions. You can pay them with a commission which means they get a small percentage of what you make or you can find a fee only planner. If you work with a fee only planner then you pay for all the advice up front. This set amount will probably be taken out quarterly as your financial planner is going to help your investments all your round.

If I'm in debt can a planner help?

Living in debt is a stressful situation and when you try to get out of it alone you could end up making things worse. A financial planner can show you how to eliminate your debt no matter how large it is. If you are dealing with medical bills, credit card payments or past due mortgage payments you want to talk with a financial planner as soon as possible. With the right money management techniques you will be back in the positive and out of the negative for good.

How is a Roth IRA different from an IRA?

Both an IRA and Roth IRA are going to be for retirement planning. Your financial planner will help you figure out which one works for you. The difference between the two is how you pay taxes. If you make a contribution to a traditional or simple IRA then it is tax deductible. The same does not apply to a Roth IRA however. Once you reach the age of retirement you can withdrawal the full amount in your Roth IRA and not have to pay taxes. When you make a withdrawal from an IRA then you are going to have to pay taxed.

How can I find a local financial planner?

The search function on this website will allow you to find a financial planner that understands your local needs. Not every town and city is the same so your economic situation is going to be different from the person living a state away. Finding local help is good because they can help you with your real estate options and using local banks for business loans.

Do financial planners handle family finances?

You can easily find a financial planner that can help you with your family finances. They can help you learn money management skills that will make sticking to a family budget simple. Making sure you are living within your means will help you cover all those family expenses including paying for a place to live, the kids' education and of course the family vacations. A financial planner can help you invest in a 401k, IRA and college savings account.

How will my money be invested?

Everyone's financial planning is different. This means you could invest in a mutual fund or a growth fund. Your financial planner will come up with an investment plan that is tailored to your wants and needs. There are plenty of options to choose from including a Roth IRA for retirement and bonds for a college education fund.

Should I really spend money on advice?

Having a financial planner isn't just about advice, but action. Yes, you are getting advice about how to handle your current personal finances, but you are also getting action from investments. A financial planner can guide you in the right direction so you don't have to worry about a job loss or mortgage payments anymore. You are getting peace of mind and financial security when you allow a certified financial planner to help.

This website provides information related to the subjects covered. Before making any financial or legal decisions, a professional should be consulted.