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Getting through the economic turmoil of 2020 with the help of a personal financial planner

Written by Eric Ebbert CFP®, MBA

On September 23, 2020

The year 2020 has not exactly been the easiest year for everyone. Millions have lost their jobs. The economy has gone up and down and hopefully, back up again. COVID-19 is still causing society to slow down as over 210,000 have died. During times like these, it is natural to worry about your money, especially your savings and investments that are vulnerable to a volatile market.

Managing your money during tough and unpredictable times requires careful research and strategy. This is hard to do when you do not have the time or skills, but you can work with a financial advisor to find a strategy that works for you.

Financial advisors are beneficial for you during the best of times, but they are especially helpful during times of turmoil. 

Join us as we explore what you can expect from a financial advisor during hard times.

Objective financial advice

It is difficult for people to make objective financial decisions because of emotional bias or uncertainty or fear. A financial professional can look at your personal financial circumstances with a better sense of clarity. They can offer objective advice on any adjustments you may need to make to your financial strategy during hard times to help keep you on the path to reaching your short-term and long-term goals.

Personal financial planning

Each person is unique and has their own unique financial circumstances. It is not good enough to rely on generic advice for a basis of forming your strategy. It is useful to consider generic advice for growing your own knowledge base, but when it comes to your financial strategy, you need a personal touch.

A financial advisor can work with you on a regular basis to get to know your circumstances, your financial needs and your goals. They can factor in your personal values and risk tolerance when developing your financial plan.

Revealed opportunities

When the economy does not seem healthy to the average person, a financial advisor may be able to find some silver lining. A financial advisor can look for other opportunities for savings and investment to help diversify and balance your portfolio, such as:

  • Cash flow management
  • Asset allocation
  • Money market accounts
  • Certificates of deposit
  • Roth IRA conversions
  • Socially responsible investing and more

Talk to a ProVise CFP® professional about protecting your personal finances

We understand that it is scary to see the markets bear down after bulling up for several years. But with the right financial professional by your side, you can form a better strategy for keeping your savings and investments safe … and maybe even growing them too.

At ProVise Management Group, our CERTIFIED FINANCIAL PLANNER™ professionals can get to know you and your current financial circumstances, goals, risk tolerance and personal values to help you develop a plan that works for you. We can also create a written plan for you at a fiduciary standard of care. All our written plans come with an unconditional money-back guarantee. If you are unhappy with your written plan, you can return it to us, and we will refund 100% of the fee paid.

Are you ready to talk to a professional about managing your personal finances? Contact ProVise today to schedule a complimentary consultation.

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