Recognizing When Financial Advising Is Right for You

Only a scarce few Arkansans have the luxury of not having to worry about money. For most people, however, financial planning poses significant challenges, irrespective of whether they are a high-earning professional or hardworking family farmer.

Five Signs You May Need a Financial Adviser

While making wise investments and accruing wealth can be difficult for almost anyone, a surprising number of people still try to fix their financial problems on their own, even when their tested strategies garner little success.

#1 You’re Not Sure Where to Start

Financial planning and investment are big fields, encompassing industries and economies that stretch beyond our borders. Few people, if anyone, can really claim to know everything about finance, even if they have devoted their entire lives to understanding the economy. However, even though you should never feel bad about not knowing where to start, uncertainty is never an excuse for inaction.

#2 You Procrastinate

Time is a precious commodity, and one that most of us only wish we had in abundance. Unfortunately, something as simple as a lack of free time can prevent a person from reaching their financial goals. After all, learning about new investment strategies, living trusts, and special educational savings plan can be demanding—especially if you have a full-time job and family to feed. Even if you have the means to implement a good financial plan, you might find yourself continuously putting off the hard work for another day

An experienced financial adviser will seek to understand your goals, aspirations, and challenges, identifying and implementing solutions that work for you, so that you can focus on managing your day-to-day life.

#3 You Don’t Know Where to Start Planning for Retirement

Estimates vary, but many studies indicate that anywhere between 39% and 50% of Americans have no retirement savings whatsoever. While everyone has a different reason for not saving enough money for retirement, the results are predictable—and devastating. Since Social Security benefits are no longer sufficient to sustain most people through their golden years, people who lack a concrete, actionable retirement plan are likely to find themselves unable to exit the workforce, living paycheck-to-paycheck and struggling to put food on their table.

A financial adviser could help you devise a realistic path to a comfortable retirement, even if you are already nearing retirement age.

#4 You Don’t Have the Resources to Devote to Investment and Planning

Today’s market is awash in investment opportunities, from government-issued bonds to private stocks and cryptocurrency. Considering how volatile the economy appears, deciding where to place your money could seem difficult—once-promising investments, like Bitcoin, have risen and crashed, leaving tens of thousands of people out of hundreds of millions of dollars.

A responsible financial adviser will never move your money without your permission, especially into a risk-filled market. However, an adviser could work with you to understand and assess your risk tolerance, financial needs, and long-term aspirations to design a strategy that can carry you into retirement.

#5 You Don’t Know Who to Trust

The growth and spread of technology means that each and every one of us is afforded near-nonstop access to a never-ending stream of opinions, feedback, and financial advice. If you jumped on every seemingly “once-in-a-lifetime” opportunity, you would likely find yourself penniless in a matter of months.

Although no financial adviser can guarantee that you will find wealth beyond your wildest dreams, they could help you make sense of conflicting information, evaluating new opportunities that could save you time and earn you money without jeopardizing your assets.

Contact Us Today

Quraishi Law & Wealth understands that getting the right financial advice in today’s hectic day and age can prove an exhausting challenge. Fortunately, our firm makes saving easy. We treat each of our clients as individuals, seeking to get a fair and balanced understanding of what makes them tick. After we have assessed a new client’s income, priorities, and needs, we work with them to find easy-to-implement strategies, whether they are seeking to revitalize a stagnant business, reduce their tax obligations, or plan an estate.

Financial planning might seem difficult, but it does not have to be. Use our online contact form or call us at 870-275-4304 to schedule your initial consultation.