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5 ways a financial advisor can help you reach your goals in 2025
5 ways a financial advisor can help you reach your goals in 2025

Yahoo

time19 hours ago

  • Business
  • Yahoo

5 ways a financial advisor can help you reach your goals in 2025

Many people start the year with ambitious goals: Pay down debt, invest more and save for an emergency fund. But without the right help and resources, achieving those goals can feel nearly impossible. And halfway through the year, you may feel like you're falling behind. Thankfully, you don't have to do it alone. A financial advisor can help. Approaching your goals with a strategic financial plan can set you up for success. A skilled financial advisor can help you navigate the intricate web of investments, savings and budgeting to help you reach your goals. Compare advisors: Bankrate's list of the best financial advisors 1. Setting clear financial goals One of the biggest benefits of working with a financial advisor is the opportunity to set clear and achievable financial goals tailored to your unique situation. Maybe you're planning to finally buy your dream home in 2024. A financial advisor can break down this goal into actionable steps, considering factors like your current income and existing debts. They can explain the impact of interest rates on your mortgage payment and how to build up a home repair emergency fund. Advisors can often help connect you with other local professionals, too, such as a mortgage broker or even a real estate agent. 2. Creating an investment strategy Navigating the world of investments can be tricky. A few innocent mistakes can have long-lasting impacts on your portfolio's performance, and potentially put your retirement savings in jeopardy. A financial advisor can help you cut through the noise and develop an investing strategy that fits your objectives and risk tolerance. Consider a scenario where you aim to retire comfortably in 20 years. You've saved some money but you know you need to boost your contributions. You're unsure how much to save each year to reach your target, or the right investments to choose to maximize your potential returns. An advisor might recommend a mix of retirement accounts, such as a 401(k) and a Roth IRA, tailored to maximize tax advantages and long-term growth. They may also diversify your investment portfolio to mitigate risk, balancing stocks, bonds and other assets to align with your retirement timeline. Learn more: How to build a financial plan for you and your family 3. Creating an emergency fund and budget Life is unpredictable, so having a robust emergency fund is essential for financial security. Yet many people struggle to build up a financial safety net. Less than half (46 percent) of U.S. adults have enough emergency savings to cover three months of expenses, according to Bankrate's 2025 Emergency Savings Survey. A financial advisor can analyze your situation and determine the right size for your emergency fund based on your lifestyle and expenses. They can help you create a budget so you can clearly identify places to cut costs so you can divert that money to your rainy day fund. For example, if you're a freelancer or self-employed professional with irregular income, your advisor might suggest maintaining a larger emergency fund to cover potential income gaps. They can recommend the best high-yield savings accounts for easy access, ensuring you're financially prepared for unexpected expenses. 4. Eliminating debt Debt is a significant roadblock for many Americans. Whether it's student loans, credit card debt or a mortgage, a financial advisor can devise a tailored debt payoff plan to help you become debt-free in 2025. Consider a scenario where you have multiple high-interest credit card debts. Your advisor might recommend a debt consolidation strategy, combining your debts into a single, lower-interest loan. This could simplify your finances while reducing the overall interest you'll pay over time. An advisor will also ensure you don't fall prey to sketchy 'debt relief' companies that are notorious for making promises they can't keep. These companies often offer 'a quick fix' for your debt problems but may engage in illegal conduct, like charging fees before obtaining any settlements, according to the Federal Trade Commission. 5. Adjusting your financial plan Your financial landscape is dynamic, and your personal circumstances will change over time. When you're navigating a new stage of life, getting trustworthy and unbiased advice is priceless. A financial advisor provides ongoing support by conducting regular check-ins to assess your progress, adjust strategies and address any changes in your goals or financial situation. If you're expecting a major change this year — like getting married or starting a business — your financial advisor can guide you through these transitions. They might adjust your investment strategy, update your insurance coverage or reallocate resources to ensure your financial plan stays on track. Get started: Match with an advisor who can help you achieve your financial goals How to find a financial advisor in 2025 Technically, anyone can call themselves a financial advisor. You'll need to do some research to ensure potential candidates are fit for the job. But how do you select the right financial advisor? First, make sure the advisor is a fiduciary. A fee-only fiduciary is a professional that's ethically bound to work in your best interest — not the interests of insurance companies or financial institutions. They'll provide unbiased, personalized advice that you can trust. Online databases from organizations like the CFP Board and XY Planning Network can help you find qualified financial advisors in your area and narrow down your search. You should also check an advisor's background and credentials. A good place to start is BrokerCheck from the Financial Industry Regulatory Authority (FINRA). Here, you can research professionals who sell securities, provide advice or both. It offers an overview of an advisor's work history along with their firm's history. Finally, interview potential advisors to gauge their investment approach and experience. Make sure your communication styles align. Advisors can get compensated in several ways, so make sure you understand how a professional is paid and that the price fits your budget. Bottom line In the complex world of personal finance, a skilled financial advisor can be your ally in achieving your goals in 2025 and beyond. From setting clear objectives to crafting personalized investment strategies, their expertise can provide a roadmap for your financial success. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Real estate agent calls out despised ‘fake offer' tactic, pushes for transparency
Real estate agent calls out despised ‘fake offer' tactic, pushes for transparency

News.com.au

time4 days ago

  • Business
  • News.com.au

Real estate agent calls out despised ‘fake offer' tactic, pushes for transparency

An real estate agent is pushing back against the not-so-flattering perception many people have of the industry by calling out some of the hated tactics Aussies are well and truly fed up with. Jordan Bulmer has been in the industry since he was 19 and currently works as a sales agent at McGrath in Terrigal, on the NSW Central Coast. While the 30-year-old knows there are plenty of 'excellent' real estate agents, he admits there are also some 'pains in the backside too'. 'I think real estate as a whole just has a bad stigma around it,' he told adding that it is the one per cent of unsavoury tactics used by some agents that cause these issues. In fact, this stigma is the reason Mr Bulmer initially rejected an opportunity into get into the industry. 'I got asked to be a real estate agent, and I said, 'No way. I'm not going to be a real estate agent, you guys are wankers. Everybody hates you guys',' he said. But, eventually, he decided to give it a go and ended up loving it. He has now been in the industry for over a decade and he has found being honest and upfront with clients produces a better result than any sneaky tactic might. Mr Bulmer has been taking to social media to address some of the frustrations that Aussies have with the industry. In a recent TikTok video, he responded to a comment calling out the use of fake offers to put the pressure on other interested buyers. 'Yeah not into this. I don't know why agents do this. If someone comes to me and says has there been an offer on the property and there hasn't I just say 'no, there hasn't',' Mr Bulmer said in the video. 'I haven't found the right person, there doesn't have to be an offer on every property. I think the question would be, do you want to buy it? And then lets see if we can work out a price where everybody's happy. 'I wouldn't do this, don't say that there's fake offers.' Speaking to the real estate agent said there is 'no need' for people to use these kind of tactics when selling a home. 'I don't understand why some agents do some of the things that frustrate the living daylights out of people. I just don't get it,' he said. 'Like as if real estate agents, after all this time, can't tell that people know that they're playing games. It blows my mind sometimes. I find that just such a silly thing to do, but it seems to happen so much.' Working in real estate can often be perceived as glamorous, full of big pay cheques, fancy cars and beautiful properties but, in many cases, the online perception does not match the reality of the role. The truth is, a lot of the work behind the scenes is far from glamorous and, in Mr Bulmer's case, he always wanted to be transparent in his work and 'be the opposite to what everybody expects out of a real estate agent'. So, when he tells clients things they don't expect to hear from an agent, like being upfront about a property having no offers, sometimes people are shocked. He is constantly having to face this negative perception a lot of people have about those who work in the real estate industry. 'I find it difficult that real estate agents are all sort of tarred with the same brush and I'm in the mix of that when I feel like I'm different, within reason. But it just is what it is,' the 30-year-old said. 'All I worry about is my clients and the people that come into touch with my team and our company, and I just try and do a good job to everybody there and everybody that we're working for, and everybody else I don't worry about.' As a young real estate agent, Mr Bulmer sees it as his duty to try and change the stigma around the industry, which is why he started his TikTok channel. He hopes by being upfront and answering people's questions he can give owners and buyers the information to combat bad practices or the agents that are doing the wrong thing. Mr Bulmer also believes the barrier for entry into real estate is 'too low'. 'A real estate agent's job is to, essentially, maximise price for an owner, maximise their outcome, to market their property, and to handle the transaction without emotion,' he said. This can be difficult because, for many sellers, there is a lot of emotion attached to their home and it can cloud their judgment when it comes to the sale. Mr Bulmer said there are always going to be some scenarios where people get upset, but he believes more agents would be equipped to deal with this in a respectful and productive way if getting into the industry required more training. 'You're managing millions of dollars and lots of emotion, and it's a pretty easy course to get into real estate, I think that they need to raise the bar,' he said. For entry-level beginners, the process to getting into the industry typically takes between one and two months, with the time frame including completing the necessary education and training and obtaining the required license to practice. Mr Bulmer pointed out that, while it is up to the owner to choose the real estate agent they want to represent them, it can be hard to understand from a 30 minute conversation who is going to be the right fit and have your best interests at heart. 'It's always going to be tricky, because when you've got money and emotion, in general in any industry, can create tension,' he said. 'And, unfortunately, you can't have multiple people buy one property. So there's always going to be some people upset. You can't help that.' But he said coming to people with transparency, great service and avoiding worn-out tactics is the best way forward.

How this Sunshine North duplex could earn $1m
How this Sunshine North duplex could earn $1m

News.com.au

time5 days ago

  • Business
  • News.com.au

How this Sunshine North duplex could earn $1m

A Sunshine North duplex passed in at auction on Saturday despite strong interest, but agents say the right buyer could unlock a six-figure windfall with just $15,000 worth of work. The property at 44 Ford Ave offers two self-contained homes on a single title, with 95 per cent of subdivision work already signed off. Only water meter separation remains, paving the way for two individually sellable properties with an estimated combined value of $1.06m. With $800,000-$880,000 price hopes, the dual-dwelling set up attracted 18 inspection groups, 12 inquiries and six contract requests — but failed to meet reserve under the hammer. The Agency Victoria's Jim Christou said buyers were circling the opportunity to rent both units or live in one while selling the other. 'You've got two complete homes here, both with their own kitchen, bathroom, and living zones,' Mr Christou said. 'The front is already leased for $450 a week, and the rear was kept vacant for the sale, but it could easily match that. 'That's $900 a week, with the chance to split the titles and bank the equity later.' Unit 1 features polished timber floors, a full-sized kitchen, and a lounge with split zones for dining and living. The rear home offers an equally spacious tiled layout, light-filled bedrooms, retro bathroom, and private backyard, ideal for multigenerational living, investors or resale. 'There's real potential for equity growth here — whether you hold both, sell one, or flip them once subdivided,' Mr Christou said. 'And the owner's already done all the hard work. You're stepping in with the finish line in sight.' Mr Chirstou said Sunshine North's low turnover made comparable sales difficult to find, but also reflected the area's stability and appeal. 'It's a tightly held suburb. Once people move in, they don't leave — even renters,' he said. 'We actually had more traction on this last winter, which is unusual, but I can feel buyer confidence returning.' The property remains available for private sale.

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