Menu

9th Nov 2015

What Is Financial Planning?

Financial planning is the process of:

  • Understanding your financial goals
  • Knowing when you will need to use your money, and what you will be using it for
  • Establishing a plan of action with specific steps to achieve those goals.

To give good advice, a financial planner, also called a financial advisor, must gather personal and financial data about you. They use this data to create projections that show you when and how you might accomplish your goals.

Reasons you need a financial planner

In most cases, you won’t need a financial planner for managing your day-to-day finances. However, when there are big changes in your life, a financial planner can help you make the necessary changes to your finances. Here are some instances in which you might consider hiring a financial advisor:

  • You got married and/or had kids. It can be stressful to blend two financial lives. Add kids to the mix, and you’ll find yourself swirling down a pit of financial confusion. A financial planner can help you address issues of insurance, assets, money management, and more.
  • You’re getting divorced. A planner can help devise an equitable settlement that makes long-term financial sense.
  • You’re planning for retirement. Investments are a big part of retirement saving. A financial planner can help you decide how to invest, along with the best ways to withdraw funds upon retirement.
  • You’re facing a financial crisis. Nobody wants to be in this position. But whether the crisis is caused by job loss, illness, legal problems or any other misfortune, you don’t have to face it alone.
  • You’re buying or selling a home. Any sort of home-sale transaction can be really scary. Consulting a planner for advice can provide you with recommendations and information on everything from your loan to the tax implications of becoming a homeowner.
  • You’ve received a financial windfall. This is one financial problem I wish I had. If you’ve come into some unexpected money, a financial planner can manage your larger nest egg and figure out the best ways to invest.
  • You’ve lost a spouse. The death of a loved one is often followed by hurried financial decisions. A financial planner will be able to look at the situation with a calm and critical eye, and offer you advice that will benefit you in the long run.

If you’re going through any sort of major financial change, or trying to plan for the future, hiring a financial planner can certainly be money well spent.

If you think you are ready to hire a competent and experienced Financial Planner, Richard DeNapoli can help!  With over 10 years of extensive experience as a Certified Financial Planner, he will evaluate your situation and provide guidance to ensure your financial future is secure.

Contact Florida lawyer Richard DeNapoli if you need financial planning assistance.

In addition to being a practicing attorney, Richard DeNapoli is a Certified Financial Planner® and holds licenses as a Florida Real Estate Broker and Mortgage Broker.

Contact the Law Offices of Richard DeNapoli, P.L. today: (941) 275–6030 for a consultation that will provide you with valuable information from a knowledgeable and client focused practice.  You can also visit his website for more information on his law practice.

Comments are closed.