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If you find yourself feeling stressed or overwhelmed about your financial situation, you’re certainly not alone. Research shows that money is a leading cause of stress for the majority of Americans, regardless of economic background. Seeking guidance from a CERTIFIED FINANCIAL PLANNER™ can help you manage your finances more effectively and take some of the pressure off your shoulders.

But who should see a financial advisor and when? Contrary to popular belief, hiring a financial planner isn’t just something the ultra-wealthy do. Regardless of your financial situation, knowledgeable planners like those at Chatterton & Associates can provide you with the tools, active assistance, support, and education you need to not only save money, but also achieve long-term financial security and wealth that can last for generations.

Is it time to speak to a professional and achieve your financial goals? Here are 7 signs you need a financial planner.

1. You Need to Plan for Retirement But Don’t Know How

More than half of working Americans say they’re behind on retirement savings, and it’s easy to see why. With ever-increasing housing costs and bills to worry about, saving for retirement can be difficult, especially if you’re not sure where you should put your savings or how to take advantage of the right investment strategies.

There are a variety of different types of retirement accounts to consider. They include:

  • 401(k)s 
  • Traditional IRAs
  • Roth IRAs
  • SEP IRAs
  • Simple IRAs and Simple 401(k)s
  • Solo 401(k)s

Most people can benefit from having more than one retirement account, and the right strategies depend on your employment situation, your rate of saving, and your personal goals. A certified financial adviser can help you allocate your retirement savings effectively and ensure you take advantage of the power of compounding interest.

Related: The 4 Stages of Retirement Planning

2. You Have a High Income or Net Worth

There’s no one-size-fits-all approach to managing money. Your net worth, assets and liabilities, sources of income, and earning power should all be taken into consideration with any financial decision. Having a lot of money is only an advantage if you know how to maintain it. 

Our skilled financial planners at Chatterton & Associates can help you develop a comprehensive strategy to not only protect your wealth, but help you grow it over time with safe investments and strategies.

3. You May Be Paying Too Much Tax

A surprising number of individuals, families, and businesses are overpaying the IRS when tax season rolls around. Minimizing your tax burden isn’t just about making sure you take every available credit and deduction. It’s also about planning ahead and taking advantage of tax-efficient strategies when it comes to saving, spending, and investing. By working with professional tax planners and tax preparers, you can save money on taxes every year and put your money to better use.

4. You Have Trouble Budgeting

One of the first signs you need a financial advisor is a lack of effective budgeting. Creating a budget (and sticking to it) is one of the most important things you can do to improve your financial situation. 

A CFP® can help you create a detailed budget to identify areas in which you may be overspending or under-saving and give you the tools you need to adjust your budget to accommodate your short- and long-term goals.

Related: Best Budgeting Apps to Help You Budget

5. You Want to Delegate Your Finances

Most people don’t enjoy poring over financial spreadsheets, meticulously preparing tax returns, and researching the best investments for various retirement accounts. But financial planners do! By delegating your finances to a professional, you can give yourself more time to do the things you’ve always wanted to do and let the experts handle your finances on your behalf.

6. You Talked to Financial Advisors Before But Felt Mistreated or Misunderstood

You should always feel respected, listened to, and comfortable when working with a financial planner. Unfortunately, not all advisors have your best interests in mind. If your previous financial advisor made you uncomfortable, didn’t explain things clearly, treated you rudely, you don’t have to put up with that. It’s time to find a new financial planner.

Here are a few characteristics to look for when choosing a financial advisor:

  • The necessary education and qualifications
  • A proven record of success
  • Compassion and understanding
  • A focus on collaboration
  • Strong communication skills
  • Reliable ethics and transparency
  • A willingness to listen and understand your specific goals and wishes
  • Should be a fiduciary

7. You Need Help with Estate Planning or Setting Up a Will

One of the most important things you can do in your life is pass on your legacy to the people you love and/or the causes you care about. It’s important to plan ahead effectively, and working with a financial advisor to assist you with estate planning can help give you the peace of mind that your money and assets will be allocated according to your wishes when you pass away.

A good financial planner will listen carefully to your desires and concerns, while making recommendations on how you may want to address your overall estate planning needs. It is important to seek legal advice from a qualified estate planning attorney, but a financial planner can help evaluate the financial impacts of an estate planning strategy. 

How to Determine if Your Financial Goals Are Realistic and Achievable

When it comes to managing money and planning for your financial future, setting goals is essential. But it’s common for people to focus so much on the big and important financial milestones – becoming debt free, reaching a certain net worth, paying off a mortgage, or reaching retirement – that they lose focus on the details. 

Setting realistic, achievable, and short-term goals can help you stay on track and reach your long-term goals faster!

At Chatterton & Associates, we never feed you one-size-fits-all financial advice. We look at your entire financial situation, including your assets, sources of income, debts, preferences, risk tolerance, and concerns. Then we offer realistic and individualized solutions that you can actually achieve.

Plan Your Financial Future and Reach Your Goals

Regardless of your age, income, net worth, and background, you deserve a financial advisor who puts your interests first and takes the time to truly understand your unique concerns and objectives. At Chatterton & Associates, we feel honored to work with individuals, families, and businesses and provide the support and guidance they need to reach financial success.

Don’t hesitate to contact us to get your questions answered and let us know how we can be of service.


The Team at Chatterton & Associates

Check the background of this firm/advisor on FINRA’s BrokerCheck.