What's the need for a personal financial planner? The cliched answer to the question is for obtaining worthwhile financial advice; however, how much ever correct an answer it is, you must stay cautious that he is not working as an agent undercover for some large financial institution.
Why Do You Need a Personal Financial Planner?
By [http://ezinearticles.com/?expert=Sambit_Sahoo]Sambit Sahoo
What's the need for a personal financial planner? The clichéd answer to the question is for obtaining worthwhile financial advice; however, how much ever correct an answer it is, you must stay cautious that he is not working as an agent undercover for some large financial institution. A personal financial planner with a contract with a life insurance (or any other financial) company just needs to sell the financial products devised by the company, irrespective of whether it suits your needs or not. But let's cut the long story short and concentrate on the situations when they can come real handy:
When you are an heir to a property: To simplify every complexity involved, none can be better than a personal financial planner.
When you are planning for marriage or divorce: When a new life commences, it also marks the beginning of new responsibilities. An involvement from a personal financial planner can blend all your available finances into a hefty amount for easy management for a better handling and understanding.
When complex financial products give you a hard time deciding: Insurances, retirement planning or umbrella liability policies don't make much sense unless explained by a professional. To choose the right financial product, a personal financial planner is the only way to go.
Buying/selling a property: These transactions need a string of big-money decisions within a very small timeframe; only specially trained people like personal financial planners can help you out of such mess.
Education planning: It's tough to simply save and meet the rising cost of education; a personal financial planner can keep you at par with the time.
Apart from the abovementioned, it's also estate planning (managing the inheritance of a property by your next generation), retirement planning, employee stock options and tax implications that remain as a personal financial planner's cup of tea; with some additional tips and guidance, it is always possible to move towards a better future and appointing a renowned personal financial planner is the first step towards it.
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Article Source: http://EzineArticles.com/?expert=Sambit_Sahoo http://EzineArticles.com/?Why-Do-You-Need-a-Personal-Financial-Planner?&id=1561308
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