Why All Educators Need a Financial and Tax Advisor
Life is much scarier when you don’t have a plan – or at least when you’re not adequately prepared. We’re thrown curveballs all the time no human could possibly plan for, but things are typically easier to handle when you’re prepared for certain everyday things, like feeding yourself and wearing clothes…
Life can also start to get even scarier when the thought of the future is brought up. Worry about saving for medical emergencies, retirement, and any other large financial burden can cause an enormous amount of stress. Some of this financial stress can be relieved by hiring a financial and tax and advisor.
For over 35 years, the National Educational Service has supported school and university employees in their tax, retirement, and insurance needs. Financial and tax advisors can help keep them calm when a financial curveball is thrown and that is why all educators need a financial and tax advisor.
Retirement Planning 101
When looking to hire a financial and tax advisor, it is important to start the process with some knowledge of what your budget is, what you want to gain from the advisor, and what your goals are for the future. It is also important to understand what a financial advisor is and isn’t. A financial advisor works in the best interest of teachers, to help them diminish financial concerns and build long-term wealth. A financial advisor is not someone who is concerned about selling you a specific product from their company.
Pros and Cons to Hiring an Advisor
While there are pros and cons to every situation, including hiring a financial and tax advisor, in this situation, the pros of hiring an advisor outweigh the cons. It is important to look at both sides of the decision though, so let’s go ahead and look.
Pros
Avoid costly financial mistakes:
Mistakes can be expensive, especially when you are uninformed about financial procedures. These mistakes can have impacts on your current financial wellbeing, but also your future financial situation. A financial advisor can help you avoid costly mistakes and make decisions that
Help make educated decisions:
As we stated earlier, uneducated choices cost money. Picking the wrong retirement savings plan is one mistake that can be very costly and easy to make if you are uneducated. Financial advisors can help teachers make smart decisions based on how much money they want to invest, without large fees.
Allow you to avoid a feeling of financial regret:
When making large financial decisions, there is often a feeling or regret associated. Financial advisors can help you be confident with your decision and make sure your decision is right for you.
Cons
Can be challenging to find the right advisor:
When it comes to finding any sort of professional to help you, it can be challenging to find someone you feel comfortable with and trust. This is especially true when it comes to finding a tax and financial advisor, as they will help you make most, if not all your major financial decisions. This process can be very lengthy and stressful, but for educators, this process can also be easy when working with National Educational Services.
Fees may be large if your account is small:
Financial advisors either work based on fees or commission, either way when you have a smaller account this money can add up.
When it comes to all things financial, life can start to become very stressful. With the assistance of a financial and tax advisor, some of that stress can be relieved. What are you waiting for?
