Do I need a financial planner?

Do I need a financial planner?

May 03, 2021
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The answer to that question may be yes or no. Either way, my goal with this blog is to help people be intentional with their money and their financial decision-making. Whether you work with a planner or not, there are many factors that fall under financial planning.

Each week, I will provide insight that encompasses:

  1. Topics that are part of the financial planning universe
  2. Help readers identify how financial planning can help them
  3. Help do-it-yourself “planners” fill in the gaps in their planning, thinking, etc.
  4. Give my two-cents on anything else that doesn’t fit in categories 1-3!

Do you need a financial planner? Here are ten considerations that might help you answer that question:

  • Information Overload - When it comes to your financial life, you don’t know where to begin. There is so much information it can be overwhelming even when you are doing some of the basics like saving, budgeting and investing. 
  • Experience you don’t have - It can bring peace of mind to work with someone who has experience and insight that you don’t have. A good financial planner is keeping up to date on tax laws, investment markets, managing financial risks, coordinating estate planning and coordinating charitable game plans.
  • You aren’t confident in your own skills - if you realize you have made some financial missteps along the way and want assistance to reduce that possibility in the future. 


  • You are on your own but want a financial partner – You are single but want someone to assist you making financial decisions. In some couples, there can be the non-participating partner which has the same affect as a single person looking for advice.
  • Mediator - You and your partner or spouse see things differently from a financial perspective. For example, one of you might be long-term focused while the other is looking at shorter term goals. Often the balance between enjoying life now and a longer-term discipline is hard to manage without an unbiased partner to help you through the process. 
  • Investment risk management - You are unsure of the appropriateness of your investment portfolio. Are you taking too much risk or not enough for your personal situation?


  • Determine where you are and help determine where you want to go - You don’t know where you stand and whether you are on track. Have you done enough or are there things you are missing that could help improve your picture.
  • You want to be in charge of your own financial succession plan - You might need a planner if you feel you have everything handled right now but you aren’t sure that things will continue on successfully when you unable to manage them. Unfortunately, we don’t know the day we are unable to manage things as successfully so you desire to have your Plan B ready to go. 


  • Keeping you accountable – It can be hard to stay on track. Having a partner to keep you accountable to your plan and hold your hand through the implementation of your plan.
  • You just don’t want to do it anymore - You don’t want to manage the day-to-day details. You prefer a partner to “tell me what to do” and follow their instructions.

Hopefully, this list will give some general thoughts on where financial planning can help. Each week, I plan to provide topics that educate or enlighten you on financial topics. Some might be more technical while others are provide my experience dealing with people’s financial lives for over 20 years.