If you live in the greater Detroit area and are planning for your future, you're not alone -- in fact, many of us are. Financial planning can make it easier to prepare for both the expected, like a new home. and the unexpected, like an illness or job loss. There are people whose whole job is to help others plan their finances, but should you hire a financial planner?
Who Needs a Financial Planner?
If you're staring down your finances and asking yourself if you need a financial planner, the answer is probably "yes." But that doesn't mean you need to hire someone -- you just need someone who can help you make more impartial decisions and plan for your future. For some of our Romulus and Redford residents, it's as simple as learning more about financial planning, looking at their assets, debts, and income, and shifting priorities.
If you find it difficult to plan out your finances on your own or are looking for tailored investment advice, then you may want to consider hiring a financial planner. Planners can help you expand your financial portfolio by providing sound advice on investments such as stocks and bonds, plus they are there for you come tax season when it’s time to review your annual earnings and consider new directions.
Taking the Steps Toward Better Financial Planning
Since much of financial planning surrounds your many life changes, it’s important to seek out a financial consultant that understands where you are at this stage in your life and how you can take advantage of what you currently have. Again, this is why we say that many people can become their own financial planners, as who knows your life better than you? You can also work together with your spouse to develop a plan for your finances (joint or individual).
It's often easy to reach out to friends or loved ones to help put you on a path toward financial success, but there's an advantage to paying a professional: your personal relationships don't risk getting tangled up in your finances. Choosing a financial planner means hiring a person, and if they make a mistake or set you down a path you don't like, you can let them go -- that's much harder to handle with friends or family.
Start Planning with Public Service Credit Union
Whether you are seeking out a reliable financial planner around Detroit, or you have your own ideas for your financial future, your credit union can help. At Public Service Credit Union, you’ll find a wide range of short-term and long-term banking solutions and resources to meet your financial needs. Learn how you can become a member of our credit union today, and contact us to get started!