Often times busy professionals find it difficult to find time to manage their finances. Investment decisions, tax projections, retirement analysis, and insurance needs all fall to the wayside when work, family, and life take precedence. This leads to lack of clarity, frustration, and feeling lost or behind. This doesn’t have to be the case! Some tips we have found that professionals can utilize to combat this lack of time and clarity are the following: scheduling a time for your finances, utilizing a centralized holistic financial tool, and working with an advisor.
Management of time is one of the most difficult things for a busy professional. This is why the first tip we recommend is to try to schedule a specific time, if only for an hour, to look over your finances. This could be balancing a checkbook (which practically no one does anymore with the development of online banking), reviewing your retirement contributions, or evaluating your life insurance need. Picking an hour a week or month to review your finances allows you to consistently make progress in your financial plan.
By utilizing a centralized financial tool, you combat the lack of clarity so common in financial plans. Our firm utilizes a client portal in which clients link all of their financial accounts for mutual view of their plan. By having a website where you can view your assets and liabilities together, you can make more accurate financial decisions and ensure a clear view of the impact of these decisions. There are plenty of tools that accomplish this task that you can purchase on your own, but Create Wealth offers our client portal to each client of our firm.
The final tip that busy professionals can utilize to manage their finances is to work with an advisor. By utilizing an advisor, you can shift some of the load and responsibility of financial management to another individual you trust. Create Wealth employes only licensed-fiduciary advisors, meaning they put your interests above their own. Portfolio allocation, tax planning, life insurance, and retirement income can then be calculated by someone else, freeing up the time for you to do the things you enjoy. An advisor also gives you a second set of eyes, meaning you may learn something, or see something in your situation that you did not otherwise see. Two heads are better than one!
If you are a busy professional and you would like to experience the benefits of working with an advisor outlined above, please click the button below and reach out. I look forward to helping you create wealth!