Best Financial Planner Retirement in Tampa Florida
Best Financial Planner Retirement in Tampa Florida
“Just think positive, and everything will turn out fine.”
“Preparing for the worst just opens the door for bad things to happen.”
“Oh, I’m sure it’s not that bad.”
Statements like these are examples of financial denial.
Denial—ignoring the reality of a situation to avoid anxiety—is a common defense mechanism.
It’s one of the strategies we use to protect ourselves from emotional distress.
It can be useful in the short term to cushion a shock and allow us a little time to accept an overwhelming blow like a sudden financial disaster.
In the longer term, however, denial can cause a great deal of damage.
Denial of money matters can result in serious financial harm.
Financial denial is not about the money.
It is about avoiding emotional pain. There is often a great deal of shame around financial mistakes, a feeling that we “should have known better.”
Even financial setbacks that are not the result of any mistake or misjudgment can result in a sense of shame.
What Does a Financial Planner Do? Best Financial Planner Retirement in Tampa Florida
Most people think of financial planning as designing a coherent investment strategy.
While that is certainly what we do for most of our clients, it is only a fraction of everything our skilled financial planners do for those we meet with.
We offer personal financial planning that is in our client’s best interest.
We also help our clients with becoming financially independent, designing tax strategies to lower their tax bite, planning how they want to distribute their assets upon death, determining appropriate types and amounts of insurance coverage, protecting their assets from frivolous lawsuits, managing their cash flow, and improving their relationship with money.
How do you find a comprehensive financial planner who integrates your humanity with the dollars and cents?
The difference between a traditional financial planner and one that practices financial life planning is significant.
The former focuses on the dollars and cents of making good financial decisions, while the latter adds the more complex human component to the process.
Do you really need a Financial Planner?
If you need help with selecting the appropriate retirement plan, analyzing retirement income needs, drafting wills and trusts, reviewing insurance needs and coverages, implementing tax strategies, dealing with longevity risks, protecting assets, increasing wellbeing, and a myriad of other financial questions, then you need financial planning.
If you want financial advice in every area of your life, you will need to find an advisor that does comprehensive financial planning.
Choosing the Right Financial Professional
Money makes the world go around; a statement that holds true no matter what way you look at it.
In life and for businesses, money is the single biggest factor that controls all decisions and considerations in the coming hours, months, and decades.
Therefore, it’s fair to say we could all do with a little help now and then to keep our finances in order and ensure we can be comfortable in the years ahead.
With a professional and trustworthy financial professional, you can address those key parts of life such as marriage, divorce, graduation, or even just paying for a child’s education.
By laying out all the information available, a financial professional will advise you on the right steps to take to ensure your financial security both now and long into the future.
By helping you to overcome obstacles, you can avoid debt and unnecessary charges.
Although you can certainly ask friends for recommendations, you need to choose a financial professional with whom you feel comfortable, relaxed and have a sense of trust.
Without this, the whole exercise is pointless because you won’t act on their advice.
How do Financial Planners get paid?
When you first reach out to a financial professional, their fees shouldn’t be a big secret.
Although the way in which financial professionals are paid can be very different, they should be happy to talk money from the outset. Just so you’re aware, financial professionals earn their money in different ways including hourly fees, commission, retainer, or assets under management.
Make sure you know exactly what you’re paying before you go forward with their services.
Commission
Some financial professionals, they’ll have relationships with certain financial institutions and businesses.
Essentially, this means they’ll receive compensation when they get clients to sign up to products whether it’s insurance, annuities, or any other product/service.
If you’re going to go with a professional who does this, you must remember their opinions will be influenced by the money they receive by getting you to make certain decisions.
If you want a purely impartial review of your finances, go for someone with no links and no commission opportunities.
Retainer
With a retainer-based professional, fees will be paid periodically, and this could be every month, quarter, or year.
If you use their services regularly, you’ll be charged for anticipated help; it could also be based on how complex your investments may be.
Typically, this is only offered when you use their services regularly, and hourly payments become too confusing/unnecessary.
Asset Under Management
With this type of payment system, the financial professional will look after your investments in return for a percentage of the rewards. 1% is around the average for this service, but you may be required to own a certain value of assets before choosing this method. Why? Because a 1% charge on hundreds wouldn’t earn them enough money to make it worthwhile.
Hourly
Finally, hourly services will see you pay for every hour the financial professional help. If you’re only using the financial professional every so often, this is likely to be the payment system chosen.
Across the US, charges can vary depending on supply and demand; however, common fees will be between $200 and $300 per hour.
Whether they sit down with you once a month or just answer the key questions you have, this is very much a ‘bits and pieces’ service in that they aren’t required 100% of the time.
Perhaps your wedding is coming up, and you need advice on how to avoid debt, here professionals can charge you for a few hours’ work with ease.
Financial Planner Retirement in Tampa Florida: Mintco Financial
Every client is unique.
Every investment account should be as well.
One client may have three to six different accounts, each with different purposes, time horizons, asset mix, and risk tolerances.
Our job is to earn you the highest risk-adjusted return after tax while staying well within your comfort zone.
This is done through access to the best investment managers with proven track records, focus, discipline, and standards.
We monitor these managers and as the investment climate dictates, move funds accordingly.
Mintco Financial is an independent wealth management firm offering a large range of financial services and products to achieve the financial and lifestyle goals that matter to you and your family. Clients are provided with personally crafted personal financial plans to achieve these goals.
Clear, impartial, and objective advice for your tax, retirement, estate, protection (insurance), and investment planning are our priority.
Book your Call Today! 813-964-7100
www.MintcoFinancial.com
Email us info@mintcofinancial.com
