Why You Should Hire a Financial Advisor in your 20s

Financial advisors are not just for wealthy businessmen and multi-million dollar companies. If you are in your twenties, there is no better time than the present to start organizing your finances. Like so many other twenty-somethings, you are likely going through continuous transition—whether it be moving, changing jobs, traveling, getting married, or having children. Regardless of your situation, there is no better time to learn about how to protect your financial future. If you need assistance, consider a financial advisor. A financial analyst is a coach that is trained to help you meet your goals. There are many reasons why you may want to hire a financial advisor, so consider the ones listed below.

  1. You are Starting Your Financial Journey. If you are in your twenties, you are likely just beginning your financial journey. As mentioned above, you may have many goals. Do not go into this chapter in your life unprepared—instead, have someone go through the step-by-step process with you. You may have an idea of how to handle your financial future, but an analyst can help you iron out the details to create a seamless plan. This is an investment worth dipping into your savings for.
  2. You Have College Loans.   According to CNN, the national average for a single student loan debt is approximately $30,000. If you have college loan debt, it is best to have an experienced professional help you plan to pay it off. Alternatively, you may find yourself in a situation where you will be in school for a large chunk of your twenties—either to finish your bachelor’s or complete a higher degree. For many, mounting student loan debt is a stressful burden. The future of how student loan debt will be managed is uncertain, but gaining expert advice can give you relief.
  3. You May Know Nothing About Finance. If you lack any knowledge of how finance works, and you have no other resources, it’s best to have someone assist you through the process. Like previously mentioned, the world of finance can seem intimidating if you do not understand it. A financial advisor will break down concepts for that will reveal that finance is not magic—reasonable goals are attainable if you have the right tools. They will want to gather data based on your account statements and spending to guide you on what you can do and how much you should save. Financial advisors often hold various certifications, like the CFA charter, that indicates their experience and breadth of knowledge. These individuals are tasked with accumulating years of experience, taking CFA courses in order to pass the strenuous financial analyst exam, and honing their specialties, meaning they’re well poised to provide you with the best advice possible.
  4. The Economy is Still Recovering. Although the financial crisis happened eight years ago, the economy is still coming back slowly. If you are in your late twenties or early thirties, you may have been immediately impacted as soon as you graduated from college. Others in their early twenties are just now feeling the repercussions as they enter the workforce. Regardless, it is never too late to consult someone who can help you.
  5. An Analyst Can See Things You Can’t. Financial analysts are not accountants—while they certainly can help you with the minutia of your everyday expenses, they are more adapted to look beyond just what’s in your checkbook. They are trained to foresee trends in the market and help you avoid potential pitfalls while reaping the benefits of the best opportunities.   Therefore, an analyst can model your finances based on the big picture.
  6. They Will Help You Invest. It is never too early to start investing money into new ventures. A financial analyst can show you market trends and advise you on what to invest in. They will accurately assess which investment risks to take. After some time, when you gain more in savings, you can then invest in assets that will give you returns in the future. Dreaming about owning real estate, buying stocks, or investing in your retirement? An analyst will lay out a plan to help you eventually get there.
  7. You May Be Very Busy. As you get older, you typically get busier. If you are not prepared, your finances can start to get out of hand. You might choose to settle down and start a family, but before you get too bogged down, allow someone to help you. Reduce your anxiety and maximize your gains by educating yourself or hiring an advisor who is right for you.

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