Passive income is money that you earn without having to do any daily labor. Most investors strive to create a passive income. Here are a few goals that a financial advisor can help you reach: Some investors are reluctant to consult with a financial advisor because they think they’re going to receive a cookie-cutter financial plan, like “spend less money” or “put more money in savings.” But a good financial advisor will learn all the details about your unique financial situation-your income, your assets, your expenses, and your goals-and create a plan that accounts for your financial situation and your lifestyle needs. ![]() Know that “financial advisor” is a broad term, and there are a variety of different types of advisors that specialize in select areas of finance. What does a financial advisor do to help you manage your money?Ī financial advisor will learn about your financial goals and devise a plan to help you reach them.
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