Do I need a Financial Planner? 5 Life events that require financial planning
1.) You get a raise at work
Getting a raise at work is often a time for celebration, as they might not come often or are typically small in nature. A significant raise however often times means it is time for some planning on how much to save for the future. It might be time to add to your retirement savings or pay off debts that have been accumulating.
2.) Purchasing a Home
Purchasing a home will most often times be the biggest purchase one will make in their lifetime. Making sure you don't over spend and adequately budget a mortgage into your expenses will be key to your retirement savings as well as your standard of living.
3.) You're Relocating
Relocating to a new state is a stressful situation in and of itself. Tax rates and cost of living differ from state to state. Moving expenses add up quickly. A financial planner can help you establish a new budget and where to allocate your income.
4.) Your Family just got bigger
Whether you're getting married or having children, your expenses and responsibility will be changing. You may want to open a 529 plan account to supplement college expenses. Don't forget about a life insurance policy to help protect those you love as well.
5.) You Retire
Retirement is considered the most important financial decision one will ever make in their lifetime. You have been working and saving your whole life for this time. A financial planner can help you put a plan in place to help you carry out your dream retirement and attain your desired retirement age.
Matthew Stutes, CFP®
Cornerstone Wealth Management
486 NW 2nd Ave.
Canby, OR 97013