{"id":41873,"date":"2017-10-20T20:10:40","date_gmt":"2017-10-20T20:10:40","guid":{"rendered":"https:\/\/one.sightlinemg.com\/marinecorpstimes\/native\/uncategorized\/when-should-you-work-with-a-financial-advisor\/"},"modified":"2026-08-08T03:24:38","modified_gmt":"2026-08-08T03:24:38","slug":"when-should-you-work-with-a-financial-advisor","status":"publish","type":"native","link":"https:\/\/one.sightlinemg.com\/marinecorpstimes\/native\/navy-federal\/when-should-you-work-with-a-financial-advisor\/","title":{"rendered":"When should you work with a financial advisor?"},"content":{"rendered":"\n

When your car needs a tune up, you take it to a mechanic. So when you need a financial plan, why not work with a pro?<\/p>\n\n\n\n

Financial advisors can help you with everything from creating a budget to planning for retirement. But according to the CFP Board, only 40 percent of Americans are using financial advisors. While a daily budget is just as important as the long term, planning for your future means making smart investments. A professional financial planner can help you make the right choices.<\/p>\n\n\n\n

If you\u2019ve ever thought about meeting with a financial advisor<\/a>, then now is the time. If you\u2019re on the fence, here are a few reasons you should.<\/p>\n\n\n

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A changing industry<\/b><\/p>\n\n\n\n

In today\u2019s financially-driven world, changes in regulation and technology are common. You can count on a financial advisor to explain what these developments mean for you.<\/p>\n\n\n\n

An example would be the Department of Labor\u2019s Fiduciary Rule, issued in 2017. \u201cAnyone who uses a financial advisor for their retirement accounts is affected by this rule,\u201d says Mark Dempsey, financial regulation expert at Navy Federal. \u201cThis regulation requires financial advisors to act in your best interest when advising you on your retirement accounts. You may think that\u2019s always been the case, but it wasn\u2019t,\u201d he adds. So what does this mean for you?<\/p>\n\n\n\n

Whether you\u2019re rolling your TSP into a separate retirement account<\/a>, or you\u2019re simply getting advice on your 401(k) or IRA, you\u2019ll want to work with someone who has your best interests in mind. Look to a financial advisor in these situations and don\u2019t be afraid to talk through any rules or regulations. By doing so, you\u2019ll know you\u2019re working with someone you can trust.<\/p>\n\n\n\n

Life\u2019s milestones<\/b><\/p>\n\n\n\n

Life is filled with milestones. Whether it\u2019s moving to your next duty station, buying a home or starting a family, there\u2019s a good chance your outlook on savings and investments will change over time.<\/p>\n\n\n\n

With those milestones in mind, you may want to adjust your financial goals. \u201cAny time you have a change in your financial situation it\u2019s good to sit down with an advisor,\u201d says Dempsey. \u201cThey can help build a plan to get you from where you are, to where you want to be.\u201d<\/p>\n\n\n\n

Meeting with an advisor as you go through different stages of life can be very beneficial. Some advisors even recommend quarterly or annual meetings with their clients. The more often you meet, the more financially prepared you\u2019ll be for things like a down payment on a home or a child\u2019s education costs.<\/p>\n\n\n\n

The power of time<\/b><\/p>\n\n\n\n

When it comes to investments, you\u2019ll want time on your side.<\/p>\n\n\n\n

Imagine a snowball rolling down a hill. The further it rolls, the larger it gets. The same concept can be applied to your money if you sock it away in an investment account<\/a>. Time and regular contributions give you the best opportunity to grow your account, however returns aren\u2019t guaranteed and investments can lose value. A financial advisor can recommend investments that give you the best chance of meeting your goals. Be transparent with your advisor about your current situation so they understand your goals, risk tolerance and timeframe.<\/p>\n\n\n\n

Once you\u2019re set up, keep track of your budget, accounts and overall plan. Your needs may change over time \u2013 or maybe the next set of regulations will open new doors for you. These are all great reasons to meet with a professional and get started<\/a> toward your goals today.<\/p>\n\n\n\n

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