Asking for Help: A Sign of Strength, Not Weakness

Sometimes, it’s difficult to admit that we need assistance. We often believe that we should handle things independently, whether it’s addressing a persistent injury, fixing a leaky faucet, changing the oil in our car, or managing our taxes. This reluctance extends to financial matters as well. We may have questions that we consider trivial or embarrassing, leading us to avoid seeking help. However, this approach is not always the best.

In many aspects of life, failing to reach out to a professional can hinder our progress toward goals and result in higher out-of-pocket expenses. When it comes to your financial future, there are no insignificant questions. Don’t hesitate to ask for guidance or think that you’re unqualified to consult a financial planner. Reputable planners will let you know if they can’t assist you and will refer you to a professional who can. They will also advise you if they believe you can manage your finances independently.

Signs You May Need a Financial Planner:

  • You Recently Married: Combining finances is a complex decision involving emotions, paperwork, cash flow management, debt repayment, goal setting, and spending habit adjustments. Open communication during this transition can help address questions about taxes, investment allocations, benefits selection, household management, and whether to maintain separate bank accounts.
  • You Own a Business: Whether you’re considering starting a business or are a seasoned entrepreneur, you’ll need to prioritize goals, manage cash flow with fluctuating income, and ensure you’re saving for retirement, obtaining health insurance, and protecting your family against income loss due to death or disability.
  • You Want to Make a Big Purchase: For significant investments like buying a home, understanding the impact on your cash flow, lifestyle, and future goals is crucial. Considerations include affordability, maintenance budget, prioritization of other goals, and future savings.
  • You Make a Career Change: Job transitions can affect your income and benefits. Ensure you maximize company benefits, manage retirement accounts, plan for income fluctuations, consider future career prospects, and assess the overall impact on your lifestyle.
  • Your Family is Growing: The arrival of a baby brings numerous financial considerations, including establishing an emergency fund, adjusting spending for child care, groceries, and medical costs, and updating your estate plan and insurance coverage.

The Importance of Seeking Help:

Taking the first step to ask for help can be daunting, but the assistance and insights you receive may surprise you. Being open to the idea that you don’t have to handle all financial questions alone can make a significant difference. Remember, as author Catherine Pulsifer says, “The greatest mistake you can make is to believe that you have to do everything on your own power.

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