Money Feels

40: Do You Need a Financial Planner?

Oct 5, 2023

Topics discussed in this podcast include the role and types of financial planners, finding the right planner, fee structures, benefits of having a financial planner, specific life stages for financial planning, saving and spending in retirement, answering listener questions, and resources for finding planners. The hosts also talk about their own financial situations and emotions, the importance of short-term goals, and tips for the current economic climate.

01:10:55

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Quick takeaways

Having a clear financial plan is crucial for making informed decisions and setting achievable goals.

Seeking the help of a financial planner can be beneficial when managing finances after a messy divorce.

Combining finances in a relationship can lead to greater simplicity and shared responsibility, but it's important to find a system that works best for both partners.

Deep dives

Common Mistakes with Money

One common mistake that I see people make with their money is not having a clear financial plan. Without a plan, it becomes difficult to make informed decisions and set achievable goals. Another mistake is trying to do too much too fast, such as saving for multiple short-term goals while neglecting long-term retirement savings. It's important to find a balance and make trade-offs to ensure financial stability and future security.

The Importance of Consistent Living in Financial Planning

01:21

How to Find a Fee Only Advisor

01:32

Introduction

2min

Mixed Feelings About Finances and the Importance of Short-Term Goals

2min

Introduction to Guest and Importance of Financial Planning

30min

The Importance of Finding a Financial Planner

11min

Financial Advice for the Current Economic Climate

17min

Moving Funds from an Unregistered to Self-Directed Account

2min

Considerations for Credit Consolidation

7min

Your finances change a lot, as do the major milestones you continue to hit. So, when do you reach out to a professional for guidance? Let's discuss this and more in this week's episode of Money Feels!

We're your hosts, Alyssa and Bridget. Welcome to the podcast, where we talk through our money trauma and create a better understanding of building a healthy relationship with finance.

In today's episode, we discuss the following:

What do financial planners actually do?
What type of financial planners exist, and how do you find one?
Fee structures and transparency
The benefits of having a financial planner
What education and credentials should you look for?
Financial planning for specific life stages
When you should meet with your planner
Saving for retirement and spending in retirement
Answering listener-submitted questions

Resources and sources:

Thanks for listening to today's episode! If you want to keep listening, we've now launched our Patreon! You can subscribe for bonus episodes and extra content from your hosts. Thank you for listening to today's episode! Join us next week for a new one. Until then, follow us on Instagram @mixedupmoney, @bridgiecasey and @moneyfeelspodcast, and we’ll see you next time!

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Money Feels

40: Do You Need a Financial Planner?

Podcast summary created with Snipd AI

Quick takeaways

Deep dives

Common Mistakes with Money

Managing Finances After Divorce

Combining Finances in Relationships

Considerations for Finding an Advice-Only Financial Planner

Prioritizing Goals and Optimizing Finances

The Importance of Consistent Living in Financial Planning

How to Find a Fee Only Advisor

Remember Everything You Learn from Podcasts