Financial Advisors Pay Off

Working with a financial advisor will help you gain a more thorough understanding of your finances so that you can invest in causes close to your heart, alleviate debt, and help plan for the future. Yet, according to a study conducted by GOBankingRates, less than 10% of Americans consult financial advisors before making big financial decisions!

Neglecting to seek guidance from a financial advisor could prove to be a detrimental oversight because that guidance could ultimately save you money. Here are some ways that you could see your savings grow, thanks to working with a financial advisor.:

1. Which is the best way to pay down your credit card debt? Sometimes, it takes a financial advisor to help you think critically about your debt and determine the most aggressive approach to paying them off. Does it make sense to split your payments evenly between all your bills – mortgages, credit card payments, loans, etc.? A financial advisor may counsel you to pay off high interest debt faster, thus, saving more money overall and keeping hefty interest sums from accruing.
2. Advisors can assess whether you’re paying too much in taxes. The more investments you have, the more confusing this can be. Because tax law information may be overwhelming, many people overpay in taxes, without even realizing it. A financial advisor can evaluate your investments and financial state, and help you determine whether your tax burden could be significantly lower.
3. A financial advisor can help you evaluate your long-term savings goals. As we age, it’s common for financial anxieties to arise. Do we have enough money saved for retirement? If we become sick or disabled, can we afford the associated medical costs? Will we become a financial burden to our loved ones? Meeting with a financial advisor, can help determine the best course of action to begin preparing for retirement and the unforeseen costs that may accompany it
4. Financial advisors can assist you in formulating financial goals and the steps to achieving them. Direction and purpose can be powerful factors that influence your saving and spending habits. When you have a clear vision for the future and measurable action steps you must take in order to meet your goals, you become more disciplined. This means less frivolous spending, less unnecessary debt, and more contributions to your savings account.
5. If you are intimidated by investing, it’s time to consult a financial advisor. Jumping into investing can be daunting and confusing, but it’s no secret that it’s a great financial strategy. If you’re not sure where to start, a financial advisor can help guide you and introduce you to investment strategies that may save AND make you money!

Financial advisors are not just resources for those who are wealthy. You may not have a sizeable income, several investments, or large assets, but those are not qualifiers for seeking guidance. In fact, the key qualifier is a desire to better manage and understand your money!

If you are ready to develop a personalized plan and portfolio, specifically targeted towards your current financial state and geared towards your financial goals, contact Ambassador Advisors today. We are not only here to help educate you – we’re here to help you steward your money well!

Any opinions expressed in this forum are not the opinion or view of American Portfolios Financial Services, Inc. (APFS) or American Portfolios Advisors, Inc.(APA) and have not been reviewed by the firm for completeness or accuracy. These opinions are subject to change at any time without notice. Any comments or postings are provided for informational purposes only and do not constitute an offer or a recommendation to buy or sell securities or other financial instruments. Readers should conduct their own review and exercise judgment prior to investing. Investments are not guaranteed, involve risk and may result in a loss of principal. Past performance does not guarantee future results. Investments are not suitable for all types of investors. To the extent that this material concerns tax matters, it is not intended or written to be used, and cannot be used, by a taxpayer for the purposes of avoiding penalties that may be imposed by law. Each tax payer should seek tax, legal or accounting advice from a tax professional based on his/her individual circumstances.
This material is for informational purposes only. Neither APFS nor its Representatives provide tax, legal or accounting advice. Please consult your own tax, legal or accounting professional before making any decisions. Information has been obtained from sources believed to be reliable and are subject to change without notification. The information presented is provided for informational purposes only and not to be construed as a recommendation or solicitation. Investors must make their own determination as to the appropriateness of an investment or strategy based on their specific investment objectives, financial status and risk tolerance. Past performance is not an indication of future results. Investments involve risk and the possible loss of principal.