Burns Estate Planning: Getting a second financial opinion

MOBILE, Ala. (WALA) - Chris Burns from Burns Estate Planning joined us on Studio10 to talk about the importance of having a second opinion when it comes to your financial planning.

The following questions and answers were provided by Burns Estate Planning:

Q: We’ve seen a lot of volatility in the market, and I know many viewers at home probably have some concern looking at their portfolios. What is something you recommend for our viewers that may feel they are missing out on opportunities?

A: Good morning! Yes, this year has been hard and the last thing you want is to miss out on possible investment opportunities that could help you get through this tumultuous market. That’s why it is so important to get a second opinion on your financial situation.

Q: Why do you believe a second opinion is so important for our viewers?

A: Just like when you go to a doctor- sometimes you aren’t quite satisfied with their findings and the plan they have in mind for you. A second opinion can really help you rule out if there are any unknowns you aren’t taking into consideration for your financial plan and if it’s time to try something new. Knowledge is so important and if you find that you are happy in your situation then you don’t have to ever wonder about the “what ifs”?

Q: You bring some great points. What is some information people should gather if they are seeking a second opinion?

A: Well, a few things. One, your current statements, current assets, income streams (rental properties; pensions; etc.) goals for either retirement or your specific accounts. And most of all, your expenses right now and in retirement to the best of your knowledge. Financial planners will take this and help you assess what are the best options for you and your financial situation.

Q: Lastly, for those who might have been late to the game for planning for retirement, what is your advice to them?

A: It’s never too late to get started on your retirement planning. Yes, there are more benefits for you to start as early as possible in the long run, but starting a plan now is better than putting it off any more than you have. Which is why even if you are just getting started it is still as important to sit down with a financial planner and see your options for your goals.

Click on the link to see the interview.

For more information on Burns Estate Planning visit: https://burnsestateplanning.com/