SW_HI_ZC_082919

8 | August 29, 2019 | 22nd Century Media home improvement
22ndcenturymedia.com
When should one see a financial professional?
It can be challenging to achieve one’s
financial objectives. Fortunately, one does
not have to go it alone — but when should
one seek help?
Here are some of the key life events in
which one might be able to benefit from
the services of a financial professional:
First professional job — Eventually,
one will land that first job, which will offer
benefits and a 401(k) or similar employer-sponsored
retirement plan. Since
one may not have any experience with a
401(k), one may have several questions:
How much should they contribute? What
sorts of investments should they choose?
When should they change their investment
selections? A financial professional
can help them review their plan and explain
the aspects that may affect one’s investment
choices.
Marriage — When one gets married,
they and their spouse may decide to merge
their finances, including one’s investments.
But if each of them brings similar
investments to the table, they might create
some redundancies. A financial professional
can look at their respective portfolios
and recommend ways to diversify.
Generally, the more diversified one is, the
greater one’s protection against market
downturns that primarily hit one type of
asset class. (However, while diversification
can help reduce the impact of market
volatility, it can’t guarantee profits or protect
against all losses.)
Children — Once one has children, they
will have new responsibilities — and they
will have some new financial issues that
should be addressed. If something happened
to them, could their children still
have the same lifestyle and educational
opportunities? Would they even be able
to stay in the same home? To help ensure
one’s children’s security, one may need to
add more life and disability insurance.
While life insurance could help pay
for one’s children’s education, one also
should prepare for education costs as if
they will be around. So, one may want to
consider an education savings investment
such as a 529 plan. A financial professional
can help one with their insurance and
education-funding needs.
Retirement — Once one retires, they
will face a variety of financial decisions,
but here is one of the most important
ones: How much money should they
withdraw each year from their retirement
accounts? To choose an annual withdrawal
rate that’s appropriate for one’s needs,
they should consider several factors: how
much they have in their retirement accounts,
how much Social Security they
will receive, what other sources of income
(such as part-time work or consulting)
they might have, their age at retirement,
their spouse’s projected retirement
assets, their retirement lifestyle and so on.
It might not be easy for them to consider
all these elements and then arrive at a suitable
withdrawal rate, but a financial professional
has the experience, training and
technology to help determine a figure that
could work for them.
These are not all the life events that may
lead one to contact a financial professional,
but they should give a pretty good idea
of the type of assistance one could expect
over time. So, consider reaching out for
the help one needs when one needs it. Doing
so could help make one’s life easier
as they move toward their financial goals.
Submitted by Edward Jones - David Sesterhenn,
20238 S. LaGrange Road in Frankfort.
For more information, call (815) 469-6315 or
visit edwardjones.com/dave-sesterhenn.
Dave Sesterhenn
Financial Advisor
20238 S La Grange Rd.
Frankfort, IL 60423
815-469-6315
david.sesterhenn@edwardjones.com
www.edwardjones.com
Member SIPC