It can be challenging to save money when you have so many daily or monthly expenses. But you don’t have to sacrifice future goals – like a new home, your child’s education fund or retirement savings. An advisor can help you manage your money right now and save up for the future.
Now, you may think: “I don’t have enough money to save – let alone work with an advisor.” This is a common misconception. An advisor can help you regardless of what’s in your bank account right now. They can help you make the most of the money you do have.
For example, when Roc first met Sun Life Financial advisor Amy Fan, he felt like he wasn’t able to save money due to his family’s tight budget. With two kids to raise, he found himself falling short on money at times. “I was spending money in too many ways,” Roc recalls. “I didn’t have the concept of saving money [back then].”
Luckily, Fan was able to help him get his finances on track by:
1. Providing various savings options to meet specific needs.
Roc had planned on buying a house and wanted to invest some money. But he also wanted to know his family was taken care of in case he or his spouse died. He didn’t know how to choose between an investment plan or an insurance plan. What he discovered was that he didn’t have to choose.
“Amy recommended that I can choose both of them – combine them,” he says. “That’s the first time I got to know I could choose two things [insurance and investments] and combine them together.”
2. Answering any questions and addressing areas of confusion.
Some financial concepts can be hard to grasp. That’s why it helps to have a professional who can explain things in a simple, easy-to-understand manner.
In Roc’s case, Fan made it easy for him to ask questions whenever he felt like he didn’t understand something. “She’s very knowledgeable,” he says. “Whenever I ask her any questions about the investment plan or the insurance plan, she can answer me in a very clear way.”
3. Providing a sense of ease and trust.
Your money is such a personal thing. It can feel strange to trust someone with your finances. That’s why it’s important to find an advisor who can empathize with your financial situation and help put you at ease.
When Roc expressed his concerns about the state of his finances, Fan was there to reassure him. She told him stories about Clients and people she knew who were in a similar situation. “[Amy] makes me feel that she’s a very good friend,” says Roc. “She's really dedicated. She’s easy going. She’s all these good words I can imagine.”
Watch Roc as he reflects back on his journey and how working with a great advisor has helped him.
Get professional help from an advisor
Are you thinking of working with an advisor? You can meet with several before choosing one you feel you can trust. Most advisors offer to meet with Clients virtually. Find an advisor today.