Are You Getting Good Financial Investment Advice?

Inheritance taxes

Good financial investment advice may seem hard to find.   Half of the struggle in finding good advice is recognizing what good advice looks like.

There are three general areas that most investors have concerns about and need advice on:   Investments, Wills and Retirement Planning.

Of course, not every investor has the same concerns; but if the financial investment advice that you are receiving doesn’t at least touch upon those three areas you may consider revising your financial strategies.

One very important piece of advice that you want to hear from your financial planner is advice about your credit and how to find your credit score.   Your credit rating means so much to your financial health that you want to work with a financial planner that understands that.

Recognizing Good Financial Investment Advice:

Advice on Your Investments:

To make you a better investor, you want to know what kind of investor you are.   To determine that, you want advice on the following:

  • Good Financial Investment Advice and Inheritance TaxesYour personal Risk Tolerance.   This is your personal comfort level with investment risk.    Your financial planner can give you a risk tolerance quiz that will tell you what level of risk you are most comfortable with.
  • Your personal Time Horizon.   This is the number of years that your money will remain invested.   This will be the number of years until you will use the money.
  • Your Investment Selections.   This in a large part is determined by your risk tolerance and time horizon.    If you are investing in high risk stocks or mutual funds, but are more comfortable with low or moderate, you need to adjust your investments to more closely match your risk tolerance.    If your money will have a longer time period to grow because you will not need to the money, your investment selection would be different than if you needed the money quicker.

Advice on Preparing a Will:

Having a will and testament gives you control.   A will gives you control over who receives your property after your death.   Without a will, state law has the control.  Without a will, state law determines who gets your personal property.

  • The inheritance tax that your beneficiaries could pay at the time of your death may be the same whether you have a will or don’t have one.
  • Not every state imposes inheritance taxes.
  • Inheritance taxes tax the beneficiaries of the person who died.
  • But the estate taxes that your beneficiaries pay could be different if you have a will.
  • Estate taxes tax your actual estate.

Advice on Your Retirement:

Retirement can seem vague.   You may have a general idea about what you want to do when you retire, but don’t know when you can.   A bit of retirement planning advice may put you on a better target.

Things you want some advice on:

  • A more clear picture of your retirement goals; they seem foggy.
  • How much will you need to save to achieve those goals?
  • How to save money?
  • Are you currently saving enough?
  • Advice on money saving tips.
  • Where can you find extra money to save.
  • Your credit score; how to get your free credit reports.
  • The impact your credit reports have on your retirement planning.
  • Hint: You will have more money to put into your retirement investments if you have a good credit score.

Good financial investment advice looks different for all investors.   We all have different financial needs.  Some investors need to focus more on retirement planning and others on will preparation.    Wherever your financial gap is, find it and close the gap; it will make you a better investor.


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