As a personal financial representative, Jim Barker of Barker Insurance Services, has certainly encountered his fair share of people who operate under the assumption that by having certain aspects of their finances in place, they are, for the long run, financially set. However, there’s a reason why Barker has managed to persuade so many people to stop taking financial matters into their own hands and instead seek the help of a trusted professional. While many have the ability to get their current or short-term finances under control, few are able to truly develop long-term financial plans. Getting out of debt and putting money into savings and retirement accounts are certainly good financial ideas, but such actions do not necessarily constitute a viable long-term plan.
So why is it so important to have a long-term plan? According to Barker, if you don’t have your own financial plan, then the IRS has one for you — to take as much of your money as possible. If that doesn’t sound good to you, then consider the idea that a personal financial representative can help you in more ways than you might think. The great thing about is that they have the ability to fuse your current circumstances with your long-term goals, some of which you might not currently be focusing on. After all, it can be difficult to truly see the big picture, especially in an economy where the average person is fortunate to even have a savings account. A personal financial representative can make you aware of your needs and help you properly align your finances for the future.
As a personal financial representative, Barker understands that every person is different, and that not everybody shares the same goals and dreams. For this reason, he customizes a long-term financial plan for each client based on his specific situation. He also makes it his business to address each of his client’s short-term goals and concerns, for while Barker’s job is to see the big picture, he also believes in maximizing the present.
So then how does Barker help people meet their long-term financial goals? A lot of financial products are out there from which average working people can stand to benefit. From annuities to mutual funds to tax-free bonds, there are a world of investment instruments aside from run-of-the-mill savings accounts. The problem is that most people either don’t know that these options exist, or aren’t in a position to watch over and maintain their investments on their own. Therefore, a personal financial representative can not only set you up with a plan, but keep an eye on your investments to ensure that they are always working to your benefit.
So when should a person start working with a personal financial representative? According to Barker, you can start seeing one as early as your twenties. Many people assume that if they don’t have a lot of assets, then there’s no need to seek the help of a financial professional. In reality, it’s never too early to start developing a long-term financial plan. And the sooner you start, the more equipped you’ll eventually be to meet your monetary goals. At the same time, it’s also never too late to start working with a personal financial representative. Just because a person is only a few years away from retirement doesn’t mean that he can’t benefit from consulting with a financial expert. In fact, one can often help a person nearing retirement make the most of his last few working years and allow him to retire in as financially-comfortably a position as possible.
No matter what age you are, the primary benefit of working with a personal financial representative is the peace of mind that comes along with knowing that a professional is out there looking after your money. So whether you’ve got a few thousand or a few hundred thousand dollars to your name, don’t map out your financial future alone. Enlist the help of a personal financial representative and start making the most of your money.
