Financial advisors, also known as financial planners or wealth managers, should partner with you to help shape your financial future. Think of them as a guide who helps you understand your money mindset, goals, and challenges, while providing strategies to help you get to where you want to be. They don’t just crunch numbers—they help you see the big picture, whether that’s retirement, investments, or ensuring your wealth lives on for future generations.🌱📈
It varies, but the value you receive depends on the advisor you choose. Some financial advisors only focus on managing investments, which is just the baseline - important, but not the full picture. A truly comprehensive financial advisor goes beyond that, helping you with every aspect of your financial life, from retirement planning to tax strategies, ensuring that every decision works in harmony with your long-term goals.
The services vary, but in general, a comprehensive financial advisor helps you with:
But here’s the thing: great financial planning is about more than just the numbers. It’s about living a life that’s fulfilling and meaningful. Your financial plan should enable you to live better, not just be richer. ✨
You don’t get a trophy for being the richest one in the graveyard.🏆🪦
Not all financial advisors are the same. Here’s what they typically don’t do:
Provide legal advice or draft legal documents. A high-quality financial advisor can review legal documents, provide feedback, identify any gaps or opportunities, and connect you with a legal professional to review and execute what you’re in need of. However, you’ll need a lawyer to draft or execute them. ⚖️
File taxes. A high-quality financial advisor can review tax returns, providing tax planning and advice. The Financial Takeoff will have in-house tax filing services beginning with 2025 tax returns.
Predict the future or time markets. No one can consistently predict where the market is headed.
Based on your diagnosis and with a clear understanding of your concerns, needs, questions, and goals, recommendations can be laid out based on your financial plan.
Some may implement the financial plan and recommendations on their own, while others may work with a financial advisor to implement them. These recommendations may take time to implement, so they usually are prioritized based on importance and urgency.
Life changes - your financial plan should too. Updating and monitoring your financial plan and recommendations may fall on you or them, depending on the financial advisor you work with and the service model you selected.
They bring specialized knowledge in areas like retirement strategies, gifting strategies, business transitions, tax planning, and investment strategies, staying current in a constantly changing financial world.
They don’t just offer advice—they understand your behaviors, emotions, and goals. They help you make decisions based on your unique situation, not just the numbers.
A good advisor is someone you can turn to for any question, big or small, and they’ll understand how it impacts your whole financial picture.
You may be able to Google or ChatGPT some questions, but you won’t know how the question impacts your whole financial picture.
They listen. They know what matters most to you, your values and how to help you reach those goals. Plus, they ensure you truly understand everything they recommend, so you’re always in the driver’s seat. 🚗💨
You want to make sure they aren’t “talking over your head” and you understand what they’re saying, recommending, and why.
The financial advisor should hopefully resonate with you and your partner/spouse as one day it will be just one of you and you’ll want to feel comfortable and compatible during those times.
Not all financial advisors are created equal. They come in all shapes and sizes, with varying levels of experience, value, and costs. So, it’s critical to understand who you're working with and what they bring to the table. 🤝
I can't emphasize this enough!
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How Do Cruise Ships Float? It's crazy!
Royal Caribbean's Icon of the Seas, the largest cruise ship in the world, weighs 235,600 gross tons and carries 9,950 people!
Despite its massive size, it floats due to the principle of buoyancy: the ship's design displaces enough water to support its weight.
"The moment you give up is the moment you let someone else win.” - Kobe Bryant
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Ready to Take Off?
📩 Have a financial question? Visit The Financial Takeoff and our Ask a Question page.
🚀 Want to explore working together? Schedule your Initial Collaboration meeting to see what’s possible with your financial planning. We look forward to meeting you!
Life is short, and time is precious. Thanks for spending some of yours here. I look forward to helping with your Financial Takeoff!
Disclaimer: This is just for informational purposes and should not be used or viewed as tax, legal, or financial advice. Work with your tax professional, legal professional, and financial planner to evaluate which strategies would be the best for your situation.
