5 Reasons Why a Teacher Needs a Financial Professional
Behind every successful person is a team of educators and role models who encouraged them to reach their dreams and gave them the tools to do so. But, who offers that same advice and guidance for educators on their journey to financial success? A financial professional!
Financial professionals use their own experience in the financial world to help you make the financial decisions that get you closer and closer to achieving your goals. While taking a DIY approach to financial planning may make some of your financial goals come true, there are major benefits to having a professional on your team.
Here are 5 reasons why educators should consider working with a financial professional:
1. Pick Through Complex Financial Lingo
While many professions come with some form of a retirement savings plan, Minnesota educators have an outlined pension plan through the Teachers Retirement Association (TRA) of Minnesota. This plan includes steps for educators at all different stages of their careers and outlines different benefits and options available.
As you can imagine, detailed outlines like this can be a bit overwhelming to look at all at once. as they are often chock-full of finance keywords and concepts. With a financial professional, you can make sure that you’re utilizing the options and benefits available to you in the most effective way.
Your retirement and savings goals are unique to you, and your advisor can make sure that you’re taking the best steps to get the most out of what the TRA pension plan, or any other retirement plan, has to offer. Consulting a financial pro can ensure that you’re making the best decisions possible, including other savings or investment plans.
2. Merge Your Plan with Your Partner’s
When you have a spouse, your financial plan has to account for not only your financial needs, but also those of your partner. A financial professional can help you find the best system for both retirement and general savings that covers all members of your household. There are tons of financial planning tips specific to educators, and we can help make sure you’re utilizing those resources while also complementing the needs of your partner.
Whether both you and your spouse are educators or not, your financial plans have to align in a way that makes sure you both retire comfortably. Your financial professional can help make sure that happens.
3. Provide Advice in Times of Change
Everyone knows they should save up for a rainy day, but what happens once the rain actually begins? Your financial team is there to provide professional advice and guidance even when times get a little tough.
In times of loss or major life events, having a financial professional by your side to sort through difficult financial situations can take unnecessary stress off of your plate. Whether you have a major change for the better or worse, a qualified team can help ensure that your finances remain in good shape.
4. Offer Personalized Financial Advice
There are lots of different blogs and podcasts out there providing financial planning advice, but only a professional financial planner working personally with you can offer you the best possible guidance for YOUR finances.
Financial decisions like investments, insurance plans, and retirement savings hold a lot of weight and can have a major influence on your future. For educators, unique pay schedules and work-related expenses can make your financial plan challenging, too.
In short, a financial professional can help you become more informed and confident in the choices you make with your finances.
5. Stick With You Through it All!
A financial professional does much more than just help you make a plan and throw you to the wolves. They continue to do regular check-ins to make sure your financial plan is working and make adjustments as needed.
Your financial planner helps you set the right financial goals for your lifestyle, and can help you adjust, expand, and achieve those goals as well.
When you choose a financial professional, you’re building a lifelong relationship. Your planner provides guidance and advice throughout your entire journey to financial freedom, not just the beginning steps. You deserve to work with someone you trust wholeheartedly!
Having a financial professional by your side is like having a coach with a few more years of experience on the sidelines. You have the skills and aspiration to make your goals a reality, and they’re available to help make sure you’re making the right calls to make it happen.
Book an appointment with our team to discuss your financial planning needs!
The Lincoln Investment family of companies nor any of its representatives is affiliated with the Teachers Retirement Association (TRA) of Minnesota; and TRA does not sponsor, authorize or endorse the retirement educational services described in this or other communications of Lincoln Investment.
