How to Choose a Financial Planner

You have about to retire and soon will be accepting a lump-sum payment for the company that you have been with for twenty five years. You will be receiving around three hundred and fifty- five thousand. Wow, that is a large sum of money that will need to be handled wisely. What do you do? Who do you turn to for help?

Well, a financial planner or consultant maybe the key to your dilemma. We are going to look at what a financial planner is and how you can choose a reputable one that will be qualified to help you.

What is a financial planner? A financial planner is an individual that offers personal financial advice that is tailor made for your needs. He or she may make investment suggestions and also assist you with estate, tax, and retirement planning. The right financial planner can be very helpful to you in putting together a budget, guiding investments, and suggesting the right amount of life insurance.

Although a financial planner can be an excellent source of financial advice, it is up to you to take sole responsibility for you finances. Please do not make the mistake of giving someone complete control over you money.

Many do not know that there are very few state or federal licensing requirements for financial planners to meet. It is amazing that almost anyone can claim to be a financial planner without any solid credentials in education or training in the field. You must be aware of this and keep it in mind when consulting a financial planner. Did you know that insurance agents, stock and commodity brokers can hide behind the guise of being a financial planner? Yes, it is true.

I have a real problem with that. The above simply may only be interested in receiving a commission from the products they sell instead of being sincere about what is ideal for your financial situation. You are not looking for a salesman. You are looking for someone that will guide you in making the right choices.