Does someone in their 20s and 30s need a Financial Planner?
There is never a bad time nor is it too early to engage a financial planner. In fact, the earlier the better. Even if you are early in your career and don’t have many assets, you can still benefit from estate planning. Here are some of the instances where a Financial Planner can help even a young person with limited assets: Importance of a Will. Virtually everyone over 18 needs a will. If you die “intestate”, meaning not having prepared a will, state law will determine your beneficiaries for you. If you have multiple loved ones, you may want to be the one and not the court that decides how your assets and belongings are split up. If you have set up your “Payable on Death” (POD), or “Transfer on Death” (TOD) beneficiaries on your financial accounts that is one positive step towards deciding which family members receive your assets without going through court. Also remember that these PODs or TODs supersede a will’s declarations. Having an Advanced Medical Di...