You won’t see many advertisements promoting a financial advisor for young adults. The ads that usually come across our TV and computer screens are from advisors and planners who help older professionals manage their money. There’s a simple reason for this. People that have been in the workforce longer have more money to work with, and a financial firm makes money by working with more money.
This inevitable truth leaves a significant gap. Young adults aren’t always getting the help and advice they need in planning for their financial future. Even though they don’t have the assets of their older counterparts, there is no more critical time to make wise financial decisions than when you are young. Making the right choices early sets you up for success with less hassle.
What a financial advisor for young adults can help with
There is a lot of financial advice out there. Some of it is good. The problem is in knowing who to listen to. A financial advisor for young adults can put you on the right path by showing you how different strategies will work for you in the future.
A danger that you could get into is in finding an advisor that insists on one particular strategy. Many financial advisors suggest that the wisest move for young professionals is to invest all of their money into aggressive portfolios since they have a long time to invest.
Aggressive investments make sense. They give the investor a better chance for large gains over time. Still, advisors should be digging deeper to understand each investor and their personal goals and preferences. Then, they can make a plan that suits them, not merely their age group.
Where to find a financial advisor for young adults
Finding a specialized financial advisor for young adults isn’t completely necessary. A well-educated financial advisor will know how to guide a young professional towards making the right moves. The most important thing for young adults is finding a financial advisor they can trust.
That trust is crucial in an age where young people tend to switch jobs often. This brings up multiple financial shifts. And with each big shift in life should come a review of your finances. Having somebody along the way to help you keep track of your goals and intentions is irreplaceable, especially when they can tell you how the market is behaving at these important times.
Finding someone that you trust does not necessarily mean that you don’t listen to any other advice. It means that you have somebody you can bounce new ideas off of any time you come across new information that you think might be applicable for you.
Having the right advisor in your corner is like having a good friend that can see something you can’t. They’ll help guide you through the path and let you know what’s coming. You don’t need to walk through your financial life alone.
Have you ever worked with a financial advisor? What kinds of benefits did you experience in doing so?