Dealing with money can be complicated, particularly if you own a business or are involved in activities that make your finances unpredictable, such as legal gambling or stock trading. Fortunately, a financial advisor in Orlando can assist you with drafting a financial plan that is tailored to your specific profits, losses and other factors. Before your first appointment with a financial advisor, make sure you gather all your important documents, including tax forms, balance sheets and other pertinent items. Here are a few reasons why you need this important document.
What Is a Financial Plan?
A financial plan typically shows the following:
- What someone’s financial situation looks like currently, including their income, savings and debt
- The goals that someone has regarding their finances, whether that is to save a certain amount each year, pay off debts, or something else related to finances
- The steps that someone will take in order to achieve those goals, including specific actions to take each day, week and month in order to reach those goals
A financial plan takes into account all factors in someone’s finances, including things that the average person might overlook. For example, someone might not consider the amount of interest they pay on their debt each month and how this contributes to their inability to crawl out from under huge amounts of credit card and other debt.
Reasons To Have a Financial Planner in Orlando
There are many reasons why someone might seek out a financial planner to draft this document.
To Avoid Making the Same Mistakes
Often, people fall into a trap of doing what they know even if it is not in their best interest. This can be particularly true when it comes to money, especially for people who are unfamiliar with budgeting and other things that could help their finances. When talking with a financial advisor in Orlando, someone will gain insight into what they could be doing better with regard to planning, saving and spending money.
To Become Happier and Less Stressed
Finances are a major cause of stress in individuals as well as one of the biggest reasons why couples argue. In fact, the number of couples who cite finances as a big stressor in their relationships is right around 31%. When they have a solid plan drawn out by a third-party professional, people are more calm and confident about finances. This alone justifies the time and money spent with a financial advisor.
To Get on the Right Track
Sometimes, people do not know where or how to start when it comes to building savings or making investments. A financial plan sets someone up with good habits going forward so that they eventually reach their goals. Simply having goals is very motivating and something that many people lack in their financial lives.
Contact a Financial Advisor in Orlando
If you believe you would benefit from a financial plan, contact a financial planner such as KDK Accountancy online or call (407) 759-5363 as soon as possible. Taking this first step helps set you up for a life of financial success and less worrying about debt, losing money and other stressors.