You may want to manage your money on your own, but there are times when it’s a mistake to go it alone.

While you might not always need a financial planner, there are times when it’s good to make an appointment with a trusted advisor and consider your options.

Sometimes people think a financial planner might be employed by a specific insurance company and make investments in that company for commissions. But a sound financial planner doesn’t sell you anything you don’t need. On the contrary, they listen to your goals, look at your current situation and make recommendations on how to be more forward with your goals.

Here are some times when you should consider that consultation.

When you get your first job.

How much you make isn’t at issue here. It is about understanding how your companies benefits packages work and how best to begin saving for retirement or other large financial goals such as a new car or a house.

When you get married or divorced.

Bringing in an unbiased third-party to review your financial situation after a divorce is a good way to get realigned with your financial goals and how to see your way through what can often be a challenging financial time. When you get married, having a financial advisor walk you both through your goals and plans helps to ensure everyone is on the same page, especially when it comes to saving for big ticket items.

A financial planner will take the emotional baggage out of the equation and ensure that you’re on your way to financial strength and stability.

When you receive a large sum of cash.

When you receive a significant amount of money such as an inheritance, bonus or even a lottery win, it presents financial opportunities to soar ahead in your financial planning. But for many, it is squandered and can often leave people with less wealth.

A study in 2012 found that of the 826 people surveyed only one-third saw an improvement to the financial situation after receiving an inheritance of approximately $10,000 as a result of poor financial decisions.

Financial advisor David Barcomb works with investors from all income brackets and knows that it’s the planning that counts to reach long-term goals.

When you need to take care of aging parents.

With aging parents living longer, it can be a considerable expense to age at home or even to put them in care facilities. Planning for this occasion can be difficult, but it is a significant cost and one that can be better prepared for by hiring a financial planner to review the overall finances and give advice based on the situation at hand.

When you are thinking about retirement.

Retirement planning is an essential part of any financial portfolio and one where you shouldn’t skip on hiring the best. Planning your retirement should begin as early as possible and be done with a strategy in place that pays out the maximum investments in 20 or 30 years time. This long term planning is what financial planners do best. Set up a consultation now so you can retire just a little bit earlier.

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