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By: Josh Slocum, McClellan Wealth Management  

Financially, adulthood can get tricky. You have a career, bills that have to be paid, taxes that have to be done, a checkbook that needs balancing (do people still use checkbooks?), a credit score that needs to be maintained— and that’s not even half of it. Once you become settled in your career, and adult life as a whole, there may come a point when you look at all the moving parts of your finances and begin to wonder, “Do I need a financial advisor?” 

In my opinion, many people can benefit from the advice of a financial advisor, but not everyone needs to spend their hard-earned money working with one full-time. 

If you’re trying to decide whether hiring a financial advisor is the right choice for you, here are some reasons why consulting with a wealth management professional may be the right move.

Do you need a financial advisor? Here are 3 reasons you might want to consider one

1.  You make a significant income. 

It’s hard to quantify exactly what a “significant” income is, but as a rule of thumb, if you have an annual household income of $100,000 or more, then I recommend that you consider at least meeting with and getting the opinion of a financial advisor. 

A financial advisor’s mission is to help you build your wealth and create strategies to eliminate as much financial risk from your life as possible. If you have a surplus of unused income every month, a financial advisor may be able to help you create a plan for how to save, spend and invest your extra money.


2.  You’re planning for or experiencing a major life event. 

Whether you’re excitedly planning to buy a house and start a family or unfortunately going through a divorce, seeking the guidance of a financial advisor could be a smart move. 

A house is a big investment and before signing on the dotted line and renting a U-Haul, you need to make sure you have all your ducks in a row. A financial advisor may be able to help you determine what a smart budget for purchasing a home is based on your income. That way you don’t go into debt and remain financially sound, even after moving into your new home. Many financial advisors offer hourly rates so you can get the financial advice you need even if you don’t need a full-time consultant.

College is expensive, and it’s often not something parents think about when holding their new baby. But there will likely come a day when your bundle of joy grows up and heads off to college— and we want you to be ready! A financial advisor can give you advice on how to save for your child’s future, helping to ensure that your child will not find themselves swimming in student loans one day. 

Divorce is a hard and an unfortunate reality of life sometimes. When dividing assets in a divorce, a financial advisor can help you create a strategy that will aid in setting you up for financial success once everything is said and done.  


3.  You have received an inheritance 

It’s more common than you think – someone receives a large inheritance they were not expecting. Even if you did have knowledge of the inheritance before receiving it, if you find yourself in this situation, it may be smart to meet with a financial advisor to determine how best to invest or save your money. 


Finding the right financial advisor in Birmingham, AL

At McClellan Wealth Management, we want to help set you up for a more potentially secure financial future. If you find yourself in any of the above situations, we’re more than happy to speak with you and discuss the services we provide. If you have any additional questions, don’t  hesitate to give us a call at (205) 208-9868 or shoot us an email at  


This material is provided as a courtesy and for educational purposes only and is not intended to be relied upon as specific investment advice and is not a recommendation, offer or solicitation to buy or sell any security. The opinions expressed here are those of the author and not Advisor Services Network, LLC.

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