Numerous occasions in life call for financing for which you need to save a significant sum of money. You may fail to accrue all of the money that you need for them if you are only putting a small portion of your income in a savings account. You need a more efficient and productive way to grow the funds that you may need to use for major events later.
Instead of trying to figure out ways to grow that money on your own, you can hire someone with financial prowess to guide and advise you. You can rely on the counsel of an experienced investment consultant to save for a number of critical events that you will encounter in life.
College
As a parent, you want to spare your children from taking out costly student loans or living paycheck to paycheck in college. You want to pay as much of their tuition and expenses for them so they can focus on getting their educations.
Knowing that you want to help with this expense, you may want to set up and put money into college savings funds when your children are still babies. The investment consultant that you hire can advise you on how and where to open that account. They can tell you how much money you need to put into it to ensure that each of your children has enough money on which to go to school and pay their college-related expenses.
Retirement
You also need to save for retirement for both you and your spouse. Along with putting money in a 401k at work, you also may want to open other retirement savings accounts. However, you may not know which ones to open and which ones offer the highest return and most tax deferments.
Your investment consultant can counsel you on the varieties of private retirement accounts and how to save money in them. They can also guide you in choosing what kinds of investments to place your money in to get the largest and steadiest yield over the course of several decades.
Finally, your investment consultant can advise you on how to invest to get a steady source of revenue. You can supplement your income with the money that you invest in stocks and commodities that your investment consultant recommends.
An investment consultant, like those at CarriageGate Wealth Management, can assist you in saving for your children's college. They can also recommend retirement and revenue investments.
Share