Why Everyone Needs a Financial Planner

Taking the first step to meet with a financial planner can feel as daunting as preparing for a medical procedure—but it’s worth it! My husband Harold and I recently took the plunge, and the peace of mind we gained is priceless. From setting a retirement date to overhauling our finances, this meeting gave us clarity and direction. Here’s why you should consider doing the same.

It’s been a while since I faced that procedure no one my age wants to talk about. While the exam itself was uncomfortable, the real challenge came long before, during the preparation. Just walking past the door labeled “Certified Financial Planner” made me want to turn around and run in the other direction.

But we did it. Harold and I spent hours with a professional, mapping out our estate—basically, we had a heart-to-heart about getting older and, yes, eventually saying goodbye. It wasn’t as bad as I’d imagined. In fact, now that it’s behind us, I’m so thankful we did the hardest thing of all: we showed up.

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Taking those first steps to sit down with a financial planner wasn’t easy. In fact, Harold and I may have delayed it longer than we should have. But now that we’ve done it, I can confidently say it was one of the best decisions we’ve made for our future.

We walked in with apprehension and left with a sense of relief—and a clear roadmap for the next decade of our lives. By facing the tough questions head-on, we discovered something unexpected: clarity is empowering.

Our planner asked a simple but profound question: “When would you like to have the option to stop working?” It felt like a lightbulb moment. By setting a goal—choosing a specific date years in the future—we gave him a framework to build a plan that felt achievable and aligned with our dreams.

And let me tell you, hearing the words of G.I. Joe echoing in my mind, “Knowing is half the battle,” never rang truer. (Yes, our boys still quote that line!) Having a plan doesn’t solve everything, but it replaces fear of the unknown with confidence in the journey ahead.

MORE: Raising Financially-Confident Teens: Tips Every Parent Should Know

The Hardest Step: Getting Started

I’ll admit, the idea of sitting down with a financial planner once felt as intimidating as prepping for a root canal. But once Harold and I took that first step, we realized the hardest part wasn’t the planning—it was just getting started.

Here’s the thing: you might feel like this is a task for “someday,” but the truth is, the earlier you begin, the better off you’ll be. Whether retirement feels like it’s light-years away or just around the corner, setting yourself up for success starts now.

If you don’t know where to begin, don’t worry—you’re not alone. I recommend finding a fee-only financial planner. Unlike commissioned planners, these professionals charge by the hour, much like an attorney, so their advice is unbiased and tailored to your needs.

Start by asking friends or family for recommendations. If that doesn’t lead anywhere, check out the National Association of Personal Financial Advisors website. It’s a fantastic resource to locate trusted fee-only planners in your area.

The key is to take that first step.

Preparing for Your Financial Planner Appointment

I remember the nerves leading up to our first meeting with the financial planner. We shuffled through our old files and pulled out every document he asked us to bring: bank statements, investment summaries, wills, and so on.

He didn’t gasp in horror or even crack a smile at our haphazard organization. It was all business for him—no judgment, no drama. Honestly, it was the no-nonsense, matter-of-fact approach we desperately needed.

The takeaway here? Don’t stress over perfection. Gather what you can and show up. A good financial planner isn’t there to scold you; they’re there to help you make sense of your situation and guide you forward.

MORE: Important Documents Every Family Should Keep to Be Safe Not Sorry

What to Expect

When we walked out of that first meeting, we had a homework list long enough to rival a high school term paper. Our living trust—something we thought was solid—needed a complete overhaul. We discovered glaring gaps in our coverage, like having no disability or long-term care insurance. And let’s not even talk about our investments, which had been managed with the “throw-it-at-the-wall-and-see-what-sticks” strategy of self-directed investing.

Here’s the thing, though: instead of feeling overwhelmed or defeated, we left that meeting energized. We finally had clarity, direction, and a professional on our team who wasn’t afraid to tell us what needed to happen.

4 Key Actions for Financial Wellness

Achieving financial wellness may seem overwhelming, but breaking it into key actions makes it manageable. Here’s how you can set the foundation for a more secure financial future:

1. Get Out of Debt

Unsecured debt is like an anchor keeping your financial ship from sailing forward. The good news? You can cut the chains. Start by listing all your debts, prioritizing them, and committing to a repayment plan. If you’re unsure where to start, Chapter 5 of my book, Debt-Proof Living, offers a step-by-step guide to becoming debt-free—quickly and painlessly. It’s not just possible; it’s empowering.

Save $5.01

Debt-Proof Living: How to Get Out of Debt & Stay That Way

2. Start Saving

Think of your savings as your personal safety net. Aim to build an emergency fund with at least six months of living expenses. It might feel daunting, especially if you’re tackling debt, but even small, consistent contributions add up. Start with what you can, whether it’s $5 a week or $50 a month. Saving isn’t optional—it’s a must for financial peace of mind.

3. Know Your Benefits

Your future self will thank you for staying informed about your retirement benefits. Each year, the Social Security Administration updates your benefit projections. Create a free account at SSA.gov/myaccount to access this vital information. Use those figures as motivation to save and invest because Social Security is meant to supplement, not replace, your retirement income.

4. Keep Good Records

There’s nothing worse than scrambling to find critical documents when you need them most. Create a simple filing system (physical or digital) for important papers like your mortgage, insurance policies, wills, and tax returns. Staying organized now will save you endless frustration in the future—and might even save you money by avoiding missed deadlines or lost opportunities.

Long-Term Financial Planning Made Simple

Planning for the future doesn’t have to be overwhelming or filled with legal jargon. In fact, with the right tools, it can be simple, straightforward, and even empowering. Both of these resources are designed to make long-term financial planning less intimidating and more approachable.

1. Quicken WillMaker & Trust by Nolo

If you’ve been putting off estate planning because it feels too complicated, this tool is for you. Quicken WillMaker & Trust guides you step by step through creating essential documents like wills, living trusts, powers of attorney, and more—all from the comfort of your home.

Here’s how it works:

Select a Plan: Whether you’re buying a home, getting married, or planning for your family’s future, there’s a plan that fits your needs.
Begin Using WillMaker: Once you’re set up, the program walks you through drafting wills, health care directives, and other critical estate documents with zero guesswork.
Review and Sign: After completing your documents, review them for accuracy, print, and follow the instructions to make them legally binding (think notarization or witnesses).

With bundles starting at just $109, it’s an affordable, stress-free way to check estate planning off your to-do list.

2. The Nokbox

Think of The Nokbox as your personal life organizer and estate planning assistant rolled into one. This innovative system helps you keep track of everything: accounts, possessions, social media presence, family details, pets, and even your personal history.

Even if you don’t have a formal estate plan in place yet, The Nokbox ensures all your key information is organized for your loved ones. It’s not just for estate planning—it’s also an excellent tool for managing your household and staying on top of life’s many moving pieces.

Believe me, there was a time when I’d have chosen just about anything—yes, even shoving toothpicks under my fingernails—over sitting down with a financial planner. But I’ve had a change of heart.

These days, I’ll happily take a meeting with our planner over one that involves a weight scale, a blood pressure cuff, and the ominous snap of rubber gloves!

Question: What’s one financial decision you’re glad you made (or wish you had made sooner)? Let’s share ideas and learn together.

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ANNIE P says:

January 8, 2025 at 10:14 am

I’m now 67 soon to be 68. My husband and I took advantage of hiring a financial planner about 20 years ago, the result being we’re now sitting pretty for retirement. However, due to illnesses,divorces, parents dying and becoming a caregiver to the surviving parent we’ve accumulated substantial debt. I had to retire 5 years ago to care for my mother so our income was reduced a bit but not as much as it would have had we not had a financial planner. Whether you have lots of debt or none or feel like they care only about their paycheck, I urge you to do your due diligence and find a FP that is a fiduciary, meaning by law they have to be more interested in your care than their paycheck. We have now switched to a de-accumulation specialist. Now we need to use what we’ve accumulated as our retirement income. He is helping us get out of debt by reallocating the way we pay our bills instead of draconian austerity. My husband is pushing back retirement 3 years so we can have no debt when he retires. The information FP have is way more than you have because it is their job. It’s arrogant and dangerous to think you know everything they do. Our initial FP was paid a small percentage ( like .01%) of the investments he made for us. That was 20 years ago so things may be different now but if you make the effort to do your homework you will find a FP you don’t have to pay out of pocket and will be ahead of the curve when you are ready to retire.

Don says:

January 6, 2025 at 6:30 pm

I wish I’d learned about how the stock market works in high school (early 1970s). At that time, all l I knew was that a lot of people lost money in the stock market.

Once I finally started investing in stocks (late 1990s), I did incredibly well, but then I borrowed money, and invested it too. Then I started day trading. I treated the stock market like a casino. It all ended very badly. I lost it all, and ended up buried in debt.

I worked my way out of debt, and started investing in stocks again in 2021. I’ve done incredibly well, and have vowed not to repeat my previous mistakes.

Stacy says:

January 6, 2025 at 2:23 pm

I am going to disagree with you on this. Financial advisors cost thousands of dollars to do what you can do yourself. That 1% fee sounds low but it is costs thousands every quarter. The FA does not look at you as an individual, but as a group. I know this because I hired one with one of the biggest firms in the nation when I retired. The first thing he did was sell stock I had purchased outside of my 401k to buy stock of the company I had just retired from! After decades there, my entire retirement was that stock. I did not need more! I reminded him of this, so then his next “strategy” was to buy small amounts of various stocks and then sell them 30 days later. This often resulted in gains which were taxed as ordinary income because it wasn’t held for over a year. Then there was the worst stock in the country at the time which everyone knew was crashing except him. Instead of the piddly amount he normally did, he bought $30,000 of it which the next day was worth $5,000. That is when I fired him. I manage my own without cost through Schwab. It is not hard. It costs nothing. And if I need assistance, I have a dedicated advisor who will answer my questions at zero cost. The only person whom you can trust with your money is yourself. Educate yourself and do it.

Sheri B. says:

January 6, 2025 at 12:45 pm

I don’t need a financial planner. I don’t have Any debt! I pay my bills and rent on time and I do have a saving account!
I manage my money very well.

Lisa says:

January 6, 2025 at 10:02 am

I highly recommend the NOK (Next of Kin) box. I could not believe how detailed and complete it is and includes things that your NOK would need to know that I wouldn’t have even thought about. For example, gathering and identifying all your spare keys in one place and if you don’t have a spare, making a note where to find the key. If living in an HOA, where is the mailbox located, when do the fees have to be paid and where, any rules you must follow before selling? It also maps your digital footprint asking for online account information for insurances, utilities, banking, etc. They have really thought of everything an NOK would need but also, once organized, it is great having everything you need in one place. I thought I was fairly organized having important papers in a file, but after getting this, I realized I was definitely not. I even bought one for my sister for Xmas!

Janel says:

January 6, 2025 at 8:46 am

A financial planner is great if you make a lot of money but in my experience if you aren’t going to make them a lot of money they don’t want to take the time to meet with you.

Susan A Brandt says:

January 6, 2025 at 7:11 am

EVERYONE needs to PAY a Financial Planner. DO NOT AGREE . Quit selling stuff .

Why Everyone Needs a Financial Planner—Even If It Feels Intimidating