How a Financial Advisor Helps You Relate to Your Wealth

How a financial advisor helps you relate to your wealthWhen you get down to it, money is complicated. It’s not so much what you should do with it — spend and invest wisely — but how you should relate to it.

What do you want to do with your money? This question quickly becomes complicated.

What Do You Want to Do with Your Money?

If you don’t have a clear answer, we can help you sort out realistic objectives. People often fail to see past their budget to the long-term financial plan, but creating and implementing the plan is our specialty.

Budgeting Vs. Financial Planning: Why You Need a Financial Plan

Budgeting considers what you do with your money. It focuses on immediate money issues. You look at how much you earn, determine how much it will cost to maintain your current lifestyle, and then choose a plan. Once you have a plan in place, you build a spreadsheet so you can trace where you’re spending money.

Not only does this ensure you balance your checkbook every month and pay your bills in a timely manner, it can give you financial wiggle-room for emergencies and help you save for the future.

Budgeting falls short when it comes to providing clear long-term objectives for what you want to do with your money.

Financial planning, on the other hand, looks at your current financial state and builds a comprehensive portfolio by predicting future cash flows, asset values and withdrawal plans based on information that’s currently available.

Financial planning considers your entire life. It also looks at how much you are spending versus how much you make, but it’s about reaching larger, long-term goals.

It asks, “Who are you? Who do you want to be? How should you modify your current lifestyle to achieve the lifestyle of your dreams?” Perhaps the most important question of financial planning is “How can you get the most out of your life?”

By asking these questions, McLean advisors will help you build a financial plan aimed toward a great investing experience. Your plan will outline the realistic steps you should take toward your financial objectives. Whatever challenges you face – managing risk for your business, reducing tax liabilities, supporting your children in college, retiring, and passing on your estate – your plan and advisor will guide you through.

These steps are determined based on your current lot in life – hence the word realistic.

What You Can Do When Your Spouse Has a Different Financial Perspective than You

But it gets more complicated than that. For example, your spouse might have a different perspective on what they want financially.

By bringing in a financial advisor, you have somebody who can offer both of you an objective, outside perspective on how to achieve your financial goals while helping make sure you are on the same page. If you’re not quite there, your advisor can help you get on the same page, making sure you’re both heard and your perspective is taken into account.

Change the Dynamic in Your Relationship with Money Today

Everyone’s relationship with money is tricky. By hiring a financial advisor, you have somebody who can help you sort out your relationship with money by offering the best way you can actually achieve your objectives.

Contact McLean today.



McLean Asset Management Corporation (MAMC) is a SEC registered investment adviser. The content of this publication reflects the views of McLean Asset Management Corporation (MAMC) and sources deemed by MAMC to be reliable. There are many different interpretations of investment statistics and many different ideas about how to best use them. Past performance is not indicative of future performance. The information provided is for educational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy or sell securities. There are no warranties, expressed or implied, as to accuracy, completeness, or results obtained from any information on this presentation. Indexes are not available for direct investment. All investments involve risk.

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