What To Bring to a Meeting With a Financial Planner

Hiring a financial planner can benefit you and your family in many ways. If you are working full time, you likely do not have time to sit down and really take a good look at your financial situation. You may feel that you are lost when it comes to talking about retirement accounts and investment portfolios. Maybe you want someone to look at your overall financial health and help you see areas that you can improve. Whether you are joining a personal preference program NJ or looking for a financial planner for the first time, knowing what to bring to these meetings can be helpful. This includes a statement of your wages, a list of long-term goals and a monthly expenses estimate.

1. Your Wages

In order for your financial planner to know what you are working with, you will need to give him or her an idea of your monthly or yearly wages before and after tax. You can bring the past year’s tax documents where you can easily find this information. This way, you and your planner can decide how much of your wages go straight to living expenses and how much is saved or invested.

2. A List of Long-Term Goals

Perhaps you want to retire early. Maybe you want to set up a college fund for your children or grandchildren. Whatever your goal is with financial planning, it is essential that you make this known to your financial planner. Without a clear goal in mind, it can be difficult to come up with a realistic plan that you can stick to.

3. Monthly Expenses Estimate

You must be honest about how much money you spend in the average month. This will alert your financial planner as to how much you could be cutting back or how much could go straight to an investment account. You need to be able to live on the wage that you bring home, so be sure that your financial plan accounts for this.

Making a plan for your future financial health can seem like a daunting task, but the first thing is to do is take the leap to talk to a consultant. Once you let a professional look over your portfolio, you can begin to see what is working for you and what is not. Having an extra set of eyes on your financial care can help keep you in good shape in the long run.