How do you know when you should see a financial advisor?

Everyone dreams of a safe and secure financial future. The average person spends time planning out their finances, whether it's making a budget, paying a mortgage or saving for your children's education. There are a lot of factors to consider and it can be a challenging task to determine how to meet your financial goals.
If you are serious about planning your future and want to work towards achieving your financial goals, then it is worth taking the time and effort to hire a financial advisor. A good financial advisor will help you set an overall financial strategy and be well prepared for your future – but when should you seek help?
Here are four key life events in which you might be able to benefit from the services of a financial advisor:
While life insurance could help pay for your children’s education in the event of an untimely death, you may want to consider setting up a Registered Education Savings Plan (RESP) which can help you child's post-secondary education. A financial advisor can help you with your insurance and education funding needs.
Once you retire, you will face a variety of financial decisions, but here’s one of the most important ones: How much money should you withdraw each year from your retirement accounts? To choose an annual withdrawal rate that’s appropriate for your needs, you should consider several factors: how much you have in your retirement accounts, how much Canada Pension Plan (CPP)/Quebec Pension Plan (QPP) and/or Old Age Security (OAS) you’ll receive, what other sources of income (such as part-time work or consulting) you might have, your age at retirement, your spouse’s retirement assets, your retirement lifestyle, and so on. It might not be easy for you to consider all of these elements and then arrive at a suitable withdrawal rate, but a financial advisor has the experience, training and technology to help determine an appropriate strategy that could work for you.
All of these life events may not lead you to contact a financial professional, but they should give you a pretty good idea of the type of assistance you could expect over time. Consider reaching out for the help you need. Doing so could help make your life easier as you move toward achieving your personal financial goals.
At Edward Jones, we can help you achieve your financial goals. Contact your local Edward Jones advisor about a financial strategy that makes sense for you.