You may have a clear vision of your future goals, both after retirement and while you’re in the workforce. But it may be less clear how to get from where you are to where you want to be. Working with a financial advisor in Knoxville is one of the best ways to ensure your future looks exactly the way you want. Here are some of the immediate and long-term benefits you’ll experience by following advice from wealth experts.
Developing a strategy for retirement
Even if you’re decades from retiring, the financial decisions you make now can impact the income you have for your years after leaving the workforce. If you feel retirement planning is something you can do later, meeting with a financial advisor now can provide substantial long-term benefits.
One of the most critical aspects of retirement planning is articulating your goals for your later years. A financial advisor in Knoxville, Tennessee, asks questions that help to reveal your retirement goals, whether you want a second home, a life of travel, or to provide for your beneficiaries.
Preparing for the unexpected
There’s no way to know what the future holds. The best you can do is make a plan for the things you can’t predict. You may put some money into savings and investments every month, but a financial advisor can provide insight into what you need to prepare for, such as market downturns, health concerns, or future pandemics.
A financial advisor looks at your current financial situation and evaluates the amount you’ll need in case of a wide range of unexpected emergencies.
Avoid making emotional financial decisions.
When you follow the news, it’s easy to get caught up in alarmist headlines about the market. Even the most experienced investor can fall into making emotional decisions. A financial advisor provides expertise during market turmoil to ensure you make well-informed decisions with your investments.
Don’t fall victim to excessive and unnecessary taxes.
One of the most significant reasons to work with a financial advisor is their tax expertise. You may be paying more in taxes than necessary if you handle your financial planning on your own, particularly when it comes to retirement savings.
Even if you’re well informed about tax law, there are lesser-known ways to maximize your income after you leave the workforce and provide tax-free strategies to pass wealth on to your beneficiaries.
Craft a financial strategy customized to you.
Following general financial advice from online resources or friends and family means your financial plan isn’t optimized for your priorities and goals. A financial advisor can help your dreams become realities, from global travel to a sabbatical year, college funds, or growing your investments across new sectors.
There are tools and strategies that will optimize your assets in both the short and long term, so you can build a life of abundance with total peace of mind now and in the future.
Miser Wealth Partners are strategic financial advisors in Knoxville, helping clients build lives of abundance.
Our team’s sole focus is on our clients’ goals, aspirations, and needs. We start client relationships by getting to know you through a series of insightful questions that get to the heart of your priorities now and for the future. We never present standardized strategies but engage our clients as active participants in situational planning to achieve future goals. Our focus isn’t just on your assets, investments, and holdings; it’s on you.
If you’re looking to make a change in your current financial planning strategy, reach out to Miser Wealth Partners for dedicated financial advisors in Knoxville, TN.
