Important Questions to Ask a Financial Adviser

Planning & Saving
on April 17, 2013

Meeting with a financial adviser is beneficial in a number of situations. A financial adviser can help clients assess their financial future, develop objectives to meet financial goals, better their selves at saving money and much more. Sometimes, when people meet with an adviser, they forget to ask some very important questions such as the following:

What is my current financial condition?

To determine a client’s financial condition, a financial adviser will need to know whether or not any circumstances have changed such as investments or if any children have been born and so forth.

How can I prepare for my children’s future college expenses?

Many children will qualify for financial assistance once the college years roll around. A financial adviser can help parents understand the different types of assistance that will be available as well as whether or not the parents need to open some type of college-fund account. If a college-fund account needs to be started, the adviser will help clients determine how much money they can afford to put back each month. College-fund accounts will be affected by clients’ income levels, retirement goals and much more.

Can I afford to buy a home?

Purchasing a home is a big decision. It is always smart to speak with a financial adviser about saving money and what type of home can be afforded. In doing so, clients can lessen their chances of losing a home due to foreclosure or bankruptcy. When it comes to determining how much of a mortgage payment a client can afford to make, a financial adviser will take into consideration many factors, including income level, savings account funds, number of children and much more.

When can I retire?

Everyone should prepare for their retirement. In doing so, they will be able to live as they normally do even after the working years have ceased. Adequately preparing for retirement takes much effort. A financial adviser can provide clients with great suggestions in regards to what steps need to be taken to prepare for retirement.

Should I change any of my investments?

If a client has lost his or her job, has gotten married or divorced or had a child, it is many times advisable to change some or all investments. A financial adviser can inform a client on the exact investments that need to be changed so that a better rate of return can be obtained. Other important factors that will affect investment choices are whether or not college funds need to be created, whether a client is supporting his or her parents and whether or not a financial disaster has occurred.

Read More:
How to Choose A Financial Adviser
Financial Advise From the Experts

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