Why Hire a CERTIFIED FINANCIAL PLANNERTM in Minneapolis, MN?

by | Jan 23, 2024 | Business

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A CERTIFIED FINANCIAL PLANNERTM (CFP®) is trained to provide comprehensive financial advice and planning. Here are some situations where you may consider hiring a CERTIFIED FINANCIAL PLANNERTM professional in Minneapolis, MN.

Life Transitions

Major life events may impact your financial plans. Marriage, divorce, the birth of a child, or the death of a spouse can result in changes to your financial situation. A CFP® professional can assist in understanding these changes. You can rely on a CERTIFIED FINANCIAL PLANNERTM professional in Minneapolis, MN, to offer advice based on your current situation or life transition.

Retirement Planning

Discussing your retirement plans with a CFP® professional may help you explore options that align with your goals including preparing retirement income and spending projections, developing a savings plan, optimizing IRA distributions for tax efficiency, and other recommendations.

Estate Planning

A CFP® professional can help you as you work with an attorney to review your estate plan. A will is a public document; if you wish for more privacy, a revocable trust might be a better option for you. A revocable trust can be titled with your name alone or jointly with your spouse. A CFP® professional can help you use the annual gift exclusion and understand the lifetime gift and estate tax exemption.

Investment Guidance

Whether you are a novice investor or have a substantial portfolio, a CFP® professional can help with asset allocation and investment selection. CFP® professionals can also help you understand your risk tolerance and risk capacity.

Tax Planning

A CERTIFIED FINANCIAL PLANNERTM professional in Minneapolis, MN can assist with your tax planning. They can recommend tax-efficient strategies such tax loss harvesting or bunching charitable contributions.

In the end, a CERTIFIED FINANCIAL PLANNERTM professional in Minneapolis, MN, can help you articulate your long-term investment goals and strategies, select tax-efficient investments, and manage your portfolio.