You need a financial planner. The question is whether the role can be filled by you, your significant other or whether you should retain a third party you trust. Financial planning is something you already likely do, whether you want to admit it or not; if you make credit card payments, or have a checking or savings account, you are already doing financial planning. Are you doing enough? Could you be doing better?

What are your top three financial goals over the next year? The next three years? The next ten years? What concrete steps have you taken or can you take to reach each of those goals? Answering these questions is financial planning. It doesn't require a specialized degree. It requires thoughtfulness, understanding your circumstances and desires, and the discipline to set aside the time to think and talk about the questions and answers to these issues. If these are things you can do with a family member or trusted friend, then congratulations. If they are not, you need to be honest with yourself and determine whether you can do it on your own: the answer may well be yes. Or you may decide you do want a specialist, not just one who can help you identify and prioritize your own financial goals, but one with the knowledge, experience and access (e.g., a discount or full service broker) to help you reach them through offering specific investment advice.

Regardless of where you fall on the spectrum, you should recognize that you are most likely already doing financial planning. What you really need to decide is, whether you are doing a good enough job, and if not, how you will change.

Learn more about this author, GrofM.
Click here to send this author comments or questions.

---

Add your voice

Know something about Do you need a financial planner??
We want to hear your view. Write now!