Who Needs a Financial Advisor?
Do I have enough money to work with a financial advisor?
Do I need one if I'm still early in my career?
What if I don't have a large investment account yet?
These are questions we hear often, and they all come back to a common misconception: that financial advisors are only for wealthy individuals or people nearing retirement.
The truth is that everyone can benefit from financial planning.
You don't need a certain amount of money or a certain age to start having conversations about your financial future. The value of working with an advisor simply looks different depending on where you are in life.
At NextGen Wealth Services, our goal is to help you make informed financial decisions at every stage, whether you're just getting started, building a family, approaching retirement, or already enjoying retirement.
Just Getting Started
Starting your career comes with a lot of new financial decisions. You may be managing your first full-time paycheck, paying off student loans, saving for a home, or figuring out how much to put toward retirement.
An advisor can help you:
- Build a savings and spending strategy
- Prioritize debt and emergency savings
- Understand 401(k), 403(b), Traditional, and Roth accounts
- Take advantage of employer retirement benefits
- Establish an investment strategy
- Set short and long-term financial goals
You don't need a large portfolio to benefit from advice. Getting started with the right habits early can have a meaningful impact over time.
Mid-Career
As your career progresses, your financial picture often becomes more complicated. You may be earning more, raising a family, saving for your children's education, managing a mortgage, and balancing all of those priorities with retirement savings.
An advisor can help you:
- Coordinate retirement and education savings
- Review investments and risk
- Evaluate insurance needs
- Manage multiple retirement accounts
- Develop tax-efficient savings strategies
- Plan for major financial decisions
- Review estate planning and beneficiaries
At this stage, an advisor can help make sure the many pieces of your financial life are working together.
Getting Close to Retirement
As retirement approaches, the questions begin to change. Instead of simply asking whether you're saving enough, you may be wondering when you can retire, how much income you'll need, and how your pension, Social Security, and retirement accounts will work together.
An advisor can help you:
- Determine when you can retire and maintain the lifestyle you want
- Estimate your retirement income needs
- Coordinate pensions, Social Security, and retirement savings
- Decide how to position your investments as retirement approaches
- Plan for healthcare and other major expenses
- Evaluate different retirement and pension options
- Identify potential tax strategies before retirement
- Create a roadmap for transitioning from saving to generating income
Retirement is a major financial transition. Having someone help you think through the decisions before you get there can provide greater confidence and clarity.
In Retirement
Financial planning doesn't stop when you retire. The focus simply shifts from accumulating wealth to using it effectively while supporting the lifestyle you've worked toward.
An advisor can help you:
- Manage your ongoing retirement income
- Determine which accounts to withdraw from and when
- Manage required minimum distributions
- Adjust your investment strategy as your needs change
- Manage taxes on retirement income and withdrawals
- Plan for unexpected expenses and changing spending needs
- Review estate plans and beneficiary designations
- Plan charitable giving and wealth transfer
Your financial plan should continue to evolve as your spending, goals, and circumstances change.
We're Here to Guide You Through All of Life
You don't have to be wealthy to benefit from financial advice.
You don't have to be close to retirement.
And you don't have to have everything figured out before you reach out.
There are important financial decisions at every stage of life and having someone who can help you understand your options and see the bigger picture can make those decisions easier to navigate.
At NextGen Wealth Services, our goal is to be there through all of it, helping you build a plan, make informed decisions, and adjust that plan as your life changes.
Financial planning isn't just for people who have already built wealth. It's a tool to help you build, protect, and use your wealth throughout your life.
If you're wondering whether working with an advisor could benefit you, connect with our team to start the conversation.