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The four advisors every investor should consider

Puzzle PiecesKeeping your finances in check is an important part of living a successful, balanced life. As part of that balanced life, there’s a “laundry list” of things you need to do:

  • You must earn money somehow, and manage it well.
  • You need to keep a close eye on your expenses so you don’t overspend.
  • Each year, you must account for your income and expenses by filing a tax return.
  • You need to protect your assets in case of a catastrophic loss.
  • And one day when you pass away, your assets must be passed on to future generations and beneficiaries in a prudent manner.

That is by no means a complete list — there can be a lot to think about and plan for. Fortunately, some people spend their entire careers obtaining expertise and offering financial and other types of advice that can help you pursue these objectives. To ensure your finances stay on track, I recommend starting with these four types of advisors.

Financial Advisor ChecklistTax Advisor

An accountant, CPA, or other tax advisor can help you reduce your income taxes as much as possible, take advantage of deductions and exemptions (some of which you may not even know you qualify for!) and ensure proper reporting of your income when tax time comes.

Financial Advisor

As you earn money, it’s smart to put it in various, diversified types of accounts and investments to position for growth — instead of just leaving it in your bank account where it’s likely to get spent. A financial advisor should work with you closely to learn about your current financial position, your desired future, and your personal goals.

Insurance Advisor

Protecting assets that you own such as your home, vehicles, investment properties, business interests, and more is an absolute must. One unforeseen accident can wipe out a major chunk of your net worth; insurance can help prevent this from happening. The insurance market can be confusing, so we encourage you to seek advice from a pro that can help you get the best coverage.

TeamworkLegal Advisor

Structuring your belongings and titling them in the most advantageous manner is also incredibly important but is often overlooked. From a liability standpoint, for example, you can help protect your assets from creditors. From an estate planning standpoint, handing down your assets to your beneficiaries in a well thought out manner is important and can maximize the value you pass down to loved ones or charities.

I encourage you to try finding an advisor you trust who specializes in each of these areas and schedule a consultation as soon as you are able. It will be one of the best decisions you make. I’m happy to help if you don’t know where to start!


August 2020

Content in this material is for general information only and not intended to provide specific advice or recommendations for any individual.

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