Figuring out your finances can be difficult. And if you’re not from Florida, it can be even more complicated. That’s why working with a financial advisor who understands the unique financial landscape of Florida could be beneficial. Here are four reasons why:
We are more familiar with the ins and outs of Florida’s tax laws.
When it comes to taxes, there’s no one-size-fits-all solution. Every state has different tax laws, and if you’re not from Florida, you might not be aware of all the deductions and credits you’re eligible for. A Florida financial advisor will work with your tax advisor in order to sure you take advantage of tax benefit you’re entitled to so you can keep more of your hard-earned money.
We are more familiar with ways to save money in Florida.
Florida is known for its many tourist attractions, but it can also be a costly place to live. A financial advisor who is familiar with the state can help you find ways to save money so you can enjoy all that Florida has to offer without breaking the bank. From trying to negotiating better rates with your insurance company to potentially finding cheaper alternatives to your current living situation, we can help you stretch your dollars further so you can live the life you want in Florida.
We have connections in the Sunshine State.
If you’re new to Florida, it can be difficult to get connected with the right people. A financial advisor who is already established in the state will have a network of contacts that can help you in your new life in Florida. From finding a good real estate agent to connecting you with local businesses, we can help make your transition to Florida smoother and less stressful.
We understand your unique goals as a Floridian.
Floridians have unique goals when it comes to their finances. From investing in retirement, saving for children’s education, purchasing a new boat, or finally getting a beach home; we want to help make those dreams a reality. In this blog post, we will outline a few reasons why you should consider working with a financial advisor in Florida.
Why You Should Work with A Florida Financial Advisor
1) We Know Florida: We are familiar with the local economy and how it works. We understand the issues that Floridians face when it comes to their finances.
2) We Have Experience: We have been helping Floridians with their finances for many years. We know what works and what doesn’t. We can help you avoid mistakes and get on the right track.
3) We Are unbiased. Our goal is to help you reach your financial goals.
4) We Are Flexible: We offer flexible appointment times and locations. We can meet you in person, or over the phone, whichever is more convenient for you.
4 Reasons to Work with a Florida Financial Advisor
From investing for retirement to saving for a child’s education, Floridians have unique financial goals. A financial advisor can help make those goals a reality. Here are four reasons to work with a Florida financial advisor:
- We understand your goals.
- We have the experience to help you reach your goals.
- We take the time to get to know you and your family.
- We offer comprehensive financial planning services.
We understand your goals.
As Floridians, we know that you have unique financial goals. Whether it’s investing for retirement, saving for a child’s education, purchasing a new boat, or finally getting a beach home, we understand what you’re striving for..
We have the experience to help you reach your goals.
We have the knowledge and experience to develop a comprehensive financial plan that is tailored to your unique situation.
We take the time to get to know you and your family.
We believe that in order to provide the best possible service, we need to get to know you and your family on a personal level. We’ll take the time to learn about your values, your goals, and your vision for the future. This allows us to provide truly personalized service that meets your specific needs.
We offer comprehensive financial planning services.
Our advisors offer a wide range of services including retirement planning, investment management, insurance planning and more. We will work with your other professional advisors (lawyers, accountants) to offer estate planning and tax planning services.
Understanding the Importance of Financial Planners in Florida
As any savvy retiree knows, one of the key components to a comfortable retirement is having a well-thought-out financial plan. And in a state like Florida, with its retirement-friendly tax structure, that financial plan can mean the difference between eking by on a fixed income or being able to enjoy your golden years to the fullest.
But financial planners do more than just help you optimize your cash flow; they can also help you from fraud and other financial pitfalls. In a state like Florida, which ranks first in the nation for fraud reports according to the Federal Trade Commission, this is an increasingly important service.
What Do Financial Planners Do?
At their most basic, financial planners help individuals and families save for and achieve their financial goals. This can involve anything from helping save for a child’s education to planning for retirement. In order to do this effectively, financial planners must have a deep understanding of both the individual client’s needs and the ever-changing financial landscape.
This is why working with a qualified and experienced financial planner is important. Not only do they have the expertise necessary to develop a personalized plan that Strives to meet your specific needs, but they can also provide valuable guidance and advice as market conditions and your circumstances change over time.
Why You Need a Financial Planner in Florida
There are many reasons why someone might want to work with a financial planner, but there are some that are particularly relevant for retirees in Florida. First amongst these is taxes; With its retirement-friendly tax structure, Florida is an attractive destination for retirees looking to minimize their tax burden. A financial planner should work with your Tax Advisor to help you take to help you take full advantage of this structure and keep more of what you’ve earned.
Another growing concern for retirees is fraud; according to the FTC, Florida ranks first in the nation for fraud reports, with victims over 80 years old losing an average of $1,000 per incident. This is a serious problem for those living on a fixed income, and one that a qualified financial planner can help protect you from. Source
If you’re planning on retiring soon or are already retired and living in Florida, working with a qualified financial planner could be a smart move. Financial planners can help potentially help you take advantage of Florida’s tax laws to keep more of what you’ve earned, help protect you from fraudsters looking to take advantage of seniors, and with the assistance of your other professional advisers, can help you Navigate the complex world of estate planning. So regardless of your specific situation or needs, if you’re looking for peace of mind in retirement, working with a financial planner is worth considering.
Finally, retirees often have complex estate planning needs that require expert guidance. From setting up trusts to minimizing exposure to capital gains taxes with the assistance of your other professional advisors (estate planning attorney, tax accountant), there are many potential pitfalls that can eat into your nest egg if you’re not careful. A good financial planner will be able to help you navigate these waters Protecting Your Retirement Income in Florida
Florida is a retirement-friendly state, and that’s good news for those who are looking to make the most of their hard-earned retirement savings. The state’s tax structure is designed to help retirees keep more of what they’ve earned, and there are Several financial planners in Florida who can help you make the most of your retirement income.
However, it’s important to remember that there are other factors to consider when choosing a financial planner beyond just maximizing cash flow. With Florida ranking first in the country for fraud reports according to the Federal Trade Commission in 2017, it’s important to choose a financial planner who can help you protect your retirement savings from fraudsters.
What You Should Look for in a Financial Planner
When you’re looking for a financial planner in Florida, there are a few key considerations to keep in mind. First and foremost, you’ll want to choose a financial planner who is registered with the state of Florida. This ensures that your financial planner has met the state’s requirements for education and experience.
You’ll also want to choose a financial planner who is a fiduciary. This means that your financial planner is legally obligated to act in your best interests at all times. Non-fiduciary financial planners are only required to offer “suitable” investment options, which may not necessarily be the best options for you.
Finally, be sure to ask about fees before you choose a financial planner. Some financial planners charge hourly rates, while others charge percentage-based fees on the assets they manage for you. There’s no right or wrong answer when it comes to choosing a fee structure, but it’s important to understand how your financial planner will be compensated before you move forward.
So if you’re looking to make the most of your retirement years, a good place to start is by finding a qualified and reputable financial planner in Florida. Here’s what you need to know.
There are many reasons to work with a financial advisor, but these four reasons are specific to those living in or considering a move to Florida. If you want someone who understands the unique tax laws of the state, can help you stretch your dollars further, or just wants to help make your Floridian dreams come true, then working with a financial advisor maybe right for you! Get to Know MannaWealthManagement.com
Disclaimer The information and opinions expressed herein have been obtained from sources believed to be reliable but are not guaranteed for accuracy or completeness; are for information/educational purposes only; do not constitute a solicitation or recommendation for the purchase or sale of any security; are not unbiased/impartial; subject to change; may be from third parties. Opinions expressed are those of the Author and do not necessarily reflect those of B. Riley Wealth Management or its affiliates. Investment factors are not fully addressed herein. For important disclosure information, please visit www.brileywealth.com/legal-disclosures.