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StitcherFor a friend who’s already pretty frugal, you might think you don’t need someone to manage your money. But what if you’re in one of the situations we’re talking about? Getting a financial planner might not be such a bad idea after all! Today, we’re sharing 5 signs it’s time to hire a CFP and when you’re better off saving your money and managing things yourself.
But first,
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This episode is brought to you by:
the CFP exam. The Certified Financial Planner (CFP) exam is a 6-hour test with 170 multiple-choice questions and pass rates between 60% and 65%. Much of the exam focuses on the advisor’s fiduciary duty to put clients first, making it the gold standard for financial planning. We are accepting new clients! Our comprehensive financial plans cover investments, retirement, college savings, insurance, wills, emergency documents, and tax strategies.
Interested? Visit frugalfriendspodcast.com/cfp to fill out an interest form.
When Should You Get a Financial Planner?
Do you need a financial planner? Jen and Jill break down the difference between a Certified Financial Planner (CFP) and a Certified Financial Advisor, two terms that are often mistaken for one another. Drawing from their experience as CFP professionals, they walk through the signs that it might be time to work with a financial planner, from major life changes to different financial seasons and situations.
Whether you’re just starting to build your finances or navigating bigger money decisions, they help you figure out when getting professional financial guidance makes sense.
You Might Not Need a Financial Planner After All
Every financial situation is different, and hiring a financial planner may not be the right move for everyone or every season of life. Jen and Jill explain when you may not need one just yet, especially if you only need help with basic money management or are simply looking for reassurance about a decision you’ve already made.
They also share red flags to watch out for, like hiring someone just because they approached you after you received money or because your financial situation looks different from your parents’.
How would your life be any different now if you had a personal financial planner before?
Jen almost did but got the feeling that something is wrong so not hiring a financial advisor was the best decision for her. While for Jill, she worked with a CFP at the right time, after making money from a home sale.
Bill of the Week
Thanks Lenice for reading the book and listening to the podcast and sharing your bill about your tax refund that you put towards debt!
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