You can define Personal financial advisors as people or firms that assess the financial needs of individuals and help them with decisions on investments (such as stocks and bonds), tax laws, and insurance. They can also help clients plan for short- and long-term goals, such as budgeting for education expenses and saving for retirement through real estate and other investments.

As a financial management firm, NTARE seeks individuals who are uncertain about how to manage your money, want to invest for your future, and also take care of their families. Expert financial advice may be needed at various turning points in life such as when you have a child, get a promotion, decide to start a business or come into an inheritance.

It is a good idea to select a financial advisor you can trust; go into the meeting or conversation with complete openness and honesty. You are paying a financial professional for help, they can only do a good job if they know all of the relevant details from your financial life.

Three to five years

Clients need to give advisors a realistic time frame even five-plus when implementing a financial plan. It may take several years before you can truly see how an investment strategy will work.

1. Tax advantages

Contributions to a traditional 401(k) are taken directly out of your paycheck before federal income taxes are withheld. Because the contributions are pre-tax, it lowers your total taxable income which means you might owe less in income taxes, regardless of whether you itemize or take the standard deduction. It may even put you in a lower tax bracket! Your pre-tax contributions are then tax-deferred until you choose to withdraw them in retirement. The premise is that in retirement you’ll likely be in a lower tax bracket than if you were taxed on the money now.

2. You are in control

You can contribute as much or as little as you want to your account (subject to plan and IRS limits). Plus, you have the flexibility to change your contribution levels at any time (subject to plan limits) dependent on your situation. Industry studies estimate that professional financial advice can add between 1.5% and 4% to portfolio returns over the long term, depending on the time period and how returns are calculated.

3. Time is on your side

The earlier you start investing, the more time your money has to grow. One of the biggest advantages of investing in a 401(k) early is compound interest. Compound interest is when you earn interest on the principal amount of an investment plus any accumulated interest, i.e. it’s when you earn interest on interest. Compounding can have a big impact on long-term investment and should be considered a powerful ally when it comes to saving for retirement. It may not seem like much looking at your 401(k) in the early days, but compounding can really add up.

4. You can take it with you

Even if you change jobs, the money you’ve contributed to your 401(k) and its earnings belong to you. Depending on your plan type, there are different ways to keep your retirement plan invested and growing on a tax-deferred basis. If you’ve left an employer, but still have an old 401(k) with them, find out what your options are for leaving it in plan or moving it somewhere else.

5. Easy payroll deductions

Starting to save early and contributing consistently is essential to preparing for retirement, even if it feels lightyears away. With a 401(k), you can make automatic contributions directly from your paycheck. It makes saving a simple and effortless process. And, since the deduction is taken before you get paid, you won’t miss the money. When it does cross your mind, you should feel great that you’re taking the right steps to secure your future!

A comfortable retirement requires planning. The good news is that sound retirement planning doesn’t have to be complicated. By joining your company’s retirement plan, you can take advantage of a wide range of benefits to help you take control of your future – today!

Here are 5 benefits of a financial management plan

1. Tax advantages

2. You are in control

3. Time is on your side

4. You can take it with you

5. Easy payroll deductions