Site Search

Latest News / Five Basic Benefits of Working with a Financial Planner

Five Basic Benefits of Working with a Financial Planner

November 4, 2021

Thanks to the internet and YouTube, doing it yourself has taken on a new life.  For example, a young person we know was able to diagnose a problem with his clothes dryer, then order the key part and install it, thus saving the cost of an in-home repair.  Information that once might have been hard to find outside of specialized publications has become accessible to everyone.

But there are limits to self-empowerment. One area in which some people may be overconfident is financial management.  There is more to financial planning than setting some goals and pinching some pennies.  Here are five basic benefits that may come from working with a financial planner on an organized financial plan.

1. Test whether goals are realistic in the stated time frame

Legendary Green Bay Packers coach Vince Lombardi reportedly once said, “We didn’t lose, we just ran out of time.”  That’s how it can be with savings plans.  How long will it take to accumulate enough for the down payment on the house, or reach the target for college savings?  The variables are the savings rate, the rate of return on savings, and time.  A financial plan provides perspective on integrating savings strategies.

2. Identify overlooked risks

What are the chances of dying before meeting one’s financial goals?  What are the odds on becoming disabled during a career? What would happen to the able to meet the mortgage payments if a spouse dies prematurely?  A financial plan will quantify these hazards and provide mitigation strategies.

3.Measure progress

A financial plan includes benchmarks along the path toward the financial goals.  If the targets are not being met, a mid-course correction may be required.

4. Fix mistakes

There are a number of routine money management mistakes made by a surprisingly large number of people.  Failure to take full advantage of a company retirement plan is one; paying high interest charges on credit card balances is another.  A financial plan will identify opportunities to bring greater efficiencies to money management and flag the pitfalls that could undermine the plan.

5. Build wealth

A household financial survey conducted by the Certified Financial Planner Board of Standards found that families with financial plans generally have more money saved and are more likely to have paid their credit cards in full.  This was true even for families in the lowest income bracket.  For those with a plan, 41% of those earning less than $25,000 were paying off their credit cards every month.  Only 26% of those in the $25,000 to $49,999 income bracket without a financial plan were paying off their cards, even though they had more resources to do so.

Get started

Having a financial plan and following through on it takes some of the uncertainty out of life.  It gives people a feeling of greater control over their financial destiny.  Financial plans are not just for the wealthy—they offer a path for becoming wealthy.  They are not just for the young, or for the old, because financial plans address needs throughout one’s lifetime.  Centier has 3 Certified Financial Planners (CFPs) ready and willing to assist you with meeting your needs and pursuing your goals.  Call us!


(September 2021)

© 2021 M.A. Co.  All rights reserved.

Previous PostNext Post


Check the background of this investment professional on FINRA’s BrokerCheck

Located at: 600 E 84th Avenue Merrillville, IN 46410
Phone: (844) 755-6600

Centier Investment Services is a marketing name of Cetera Investment Services. Securities and insurance products are offered through Cetera Investment Services LLC (doing insurance business in CA as CFG STC Insurance Agency LLC), member FINRA/SIPC. Advisory services are offered through Cetera Investment Advisers LLC. Neither firm is affiliated with the financial institution where investment services are offered. Individuals affiliated with this broker/dealer firm are either Registered Representatives who offer only brokerage services and receive transaction-based compensation (commissions), Investment Adviser Representatives who offer only investment advisory services and receive fees based on assets, or both Registered Representatives and Investment Adviser Representatives, who can offer both types of services.

These products and services are being offered through Cetera Investment Services LLC or its affiliates, which are separate entities from, and not affiliates of, Centier Bank or Centier Investments. Securities and insurance products offered by Cetera Investments are: *Not FDIC/NCUSIF insured *May lose value *Not financial institution guaranteed *Not a deposit *Not insured by any federal government agency.

Click here to view Cetera Investment Services Privacy Policy, other Important Information and Business Continuity Plan.

This site is published for residents of the United States only. Registered Representatives of Cetera Investment Services LLC may only conduct business with residents of the states and/or jurisdictions in which they are properly registered. Not all of the products and services referenced on this site may be available in every state and through every advisor listed. For additional information please contact the advisor(s) listed on the site, visit the Cetera Investment Services LLC site at