Kathryn McCall Flags 2 Key Times to Hire a Financial Advisor
Updated
Updated · KCRA Sacramento · Oct 19
Kathryn McCall Flags 2 Key Times to Hire a Financial Advisor
1 articles · Updated · KCRA Sacramento · Oct 19
Summary
Two situations make professional financial help especially valuable: when someone is about five to eight years from retirement and when they receive an unexpected inheritance.
Five to eight years before retirement, planning gets more complex around income, taxes, Social Security, medical costs, insurance, estate planning and long-term care.
An inheritance can also justify an advisor, especially when the amount is larger than the recipient is used to managing; McCall said trust and tax guidance can be crucial.
McCall said people still in the wealth-building phase often can manage on their own by focusing on saving discipline and basic investing, then choosing an advisor they trust when complexity rises.