Timing is Everything: Knowing When to Meet with a Financial Planner

by | Jan 30, 2024

Charting Your Financial Journey

Navigating the complex world of personal finance can be daunting. From managing investments to planning for retirement, the intricacies can overwhelm even the most diligent savers. This is where a financial planner comes into play. But when is the right time to seek their expertise?

Key Life Events Triggering the Need for a Financial Planner

Starting Your Career: Laying the Foundations

The start of your career is more than just earning a paycheck; it’s the beginning of your financial independence journey. A financial planner at this stage can be a guide, helping you navigate through setting up your first budget, understanding employer benefits like retirement plans and health insurance, and creating a savings plan. They can also provide insights on debt management, especially if you’re dealing with student loans, and establish early investment strategies that can set the tone for future financial growth.

Major Life Changes: Marriage, Children, or Divorce

Life’s milestones bring joy, challenges, and significant financial shifts. When you marry, a financial planner can help merge and manage joint finances, plan for future goals like buying a home, and revise beneficiaries on insurance and retirement accounts. The birth of a child introduces the need for college savings plans, life insurance, and new budget adjustments. Conversely, in the event of a divorce, a financial planner becomes essential in dividing assets, adjusting your financial plan to suit your new status, and reevaluating your financial goals.

Career Advancement or Change

Climbing the career ladder or venturing into entrepreneurship brings new financial dimensions. A financial planner can assist in optimizing your increased income – maybe it’s investing more aggressively, or perhaps it’s about balancing between saving and spending. For entrepreneurs, financial planners play a crucial role in business financial planning, personal income management, and understanding tax implications of business ownership.


Financial planning doesn’t happen at any specific age. The best time to start is now. Getting your finances secured and working on financial goals is an on-going journey.

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Proactive Financial Planning: Not Just for the Wealthy

Retirement Planning

Retirement planning in your 30s and 40s allows you to leverage the power of compounding interest and time. A financial planner can help in evaluating the performance of your current retirement accounts, suggest adjustments, and explore additional retirement savings options like IRAs. They can also advise on balancing retirement savings with other financial goals like children’s education or paying off a mortgage or debts.

Investment Opportunities

Exploring investment opportunities is more than just picking stocks. It’s about creating a diversified portfolio that matches your risk tolerance and long-term financial objectives. A financial planner can guide you through different investment avenues – stocks, bonds, mutual funds, real estate, or even more sophisticated options like ETFs and commodities. They help in building an investment strategy that aligns with your goals and adjusts as your life and the markets change.


Get a financial plan that sets you up for retirement debt-free. Call today for a no-obligation consult

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When Circumstances Change: The Role of a Financial Planner

Receiving an Inheritance or Windfall

Inheriting assets or receiving a large sum of money, like a lottery win or a sizeable work bonus, can dramatically alter your financial landscape. A financial planner can provide crucial advice on managing these assets. This includes investment strategies, tax implications, estate planning considerations, and even guidance on charitable giving. They can help you integrate this windfall into your overall financial plan without derailing your long-term goals.

Nearing Retirement

As you approach retirement, financial planning takes on a new urgency. It’s not just about accumulating wealth anymore; it’s also about strategizing withdrawals, minimizing taxes, and ensuring your savings last. A financial planner can conduct a thorough review of your assets, advise on social security benefits, healthcare costs, and plan for potential long-term care needs. A good financial planner can also help you alleviate any unnecessary debts early. They ensure that the transition into retirement is smooth and that you’re financially prepared for the years ahead.

Making the Right Choice at the Right Time

Whether you’re just starting out, experiencing a life change, or nearing retirement, a financial planner can be a valuable asset in your financial journey. The right time to seek their guidance will vary, but one thing remains constant: a well-informed financial plan is one of the key pillars of long-term financial success and security.

Get the most out of your financial planning. Contact the Legacy Life Planning office and ask for Lance, He will get you scheduled with one of his Financial Planning concierge members to walk you step by step in your journey.

Give us a call at 423-341-8601