Do You Need a Financial Check-Up?

Although it may cause some anxiety, getting a physical health checkup from a doctor every year is a smart move.

The doctor will gather information about your overall health, this may include drawing blood. Your doctor will rely on their expert medical knowledge to let you know what you should do to reverse any negative health concerns and what you should do to increase your chances to live a long, healthy, and active life.

Those people who go without seeing their medical doctor, at least annually, are at risk of having a major negative health consequence go undetected until it is too late. Waiting too long can be expensive and threaten your quality of life.

On the other hand, people who make it a priority to see a doctor can usually catch a problem before it gets too bad.

Let’s apply the comparison of your annual physical health checkup to the importance of a financial health checkup. Just as many people are hesitant to see a doctor for a physical checkup, they are equally hesitant to get an expert financial checkup on their money. There can be many reasons for neglecting to get a financial checkup. Many people who give advice about finances are getting paid to sell you something. What earns most financial advisors the most money may not be what’s best for you. This is a common concern that causes people to be wary about getting financial advice from an expert.

Fortunately, not everyone providing financial advice is trying to sell you something. Did you know that there are many financial planners who disclose that they provide fiduciary financial advice, meaning they are ethically obligated to provide you advice that is in your best interest, not theirs? Getting a financial check up from a fiduciary financial advisor is one way of working with an expert who has your best interests in mind.

At Zions Bank, we highly recommend that you make it a point to get a financial checkup. This is a great time of the year to set up a time to meet with a fiduciary financial planner.

During your meeting with a financial advisor, he or she will gather information about your current financial health. He or she will rely on their expert financial knowledge to let you know what you should do to reverse any negative financial concerns or let you know what you should do to make your money grow and increase your chances of affording a long and active life. Many people find that financial goal setting can be easier when you involve a fiduciary financial consultant.

Visiting a fiduciary financial advisor will probably cost you about the same amount of money you might pay a doctor. This is because they are experts in various financial planning aspects, such as insurance, investment plans, retirement planning, taxes, and estate planning.

Just like with a physical health checkup, those people who go through life without seeing a financial planner are at risk of having a major negative financial consequence go undetected until it is too late. Waiting too long can be expensive and threaten your quality of life.

On the other hand, if you do choose to see a financial planner, it could mean a problem gets caught before it gets too bad. When that happens, the value of working with a financial planner is clear.