How a financial adviser can help you navigate high inflation

No matter the place you’re at in your personal finance journey, a financial adviser can help. 

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Prices are rising for on a regular basis objects, from groceries to Starbucks espresso (particularly if you’re a Pumpkin Spice Latte fan), as inflation stays at a 40-year high. If you have a price range ready, it might be time to make some changes. 

“The big sources of inflation included food, shelter, transportation services and medical care services. The owners’ equivalent rent index increased 0.8% over the month, the largest monthly increase in that index since June 1990,” Wall Street analyst Adam Crisafulli of Vital Knowledge mentioned in September.

As prices proceed to climb, you could also be trying to find methods to save lots of. Fortunately, you do not must do it alone. A financial adviser can evaluation your funds and supply steerage in your spending, investments and extra. Get began now.

How can a financial advisor help me struggle inflation?

Sky-high inflation is driving extra Americans to think about taking up a second job or facet hustle to complement their incomes. However, not all people has the flexibleness or time to dedicate to a different gig outdoors of their present positions.

No matter the place you’re at in your personal finance journey, a financial adviser can help. Here are a few examples:

Goal setting

Before you make any money strikes, you ought to have a clear image of your targets. Are you saving up for a new home? Are you making ready to ship your youngsters to varsity? Are you on the point of retire? 

These are a few of the questions you’ll must ask your self. They’re additionally essential questions your financial adviser would need to know with the intention to efficiently help you. 

“When convenience and liquidity are important, an advisor can help you find the most appropriate investment products and the right asset mix for your savings. They’ll work with you to set a strategy for contributions, then help you tune out the noise and focus on the things you can control, like keeping costs low and maintaining a disciplined approach,” funding administration company Vanguard notes on its web site.

In the U.S., simply 33% of American adults mentioned they’ve written a financial plan, based on Charle Schwab’s 2021 Modern Wealth Survey. Most adults blamed time and money as the highest causes for not creating a stable financial plan. No matter your financial state of affairs, it is by no means a unhealthy thought to set targets and a price range. The earlier you begin, the higher. Get began now.


Investing is not simple. You must know what to purchase and when. Plus, you have the added stress of navigating an unpredictable economic system. The Federal Reserve has raised its benchmark curiosity rate at the very least 5 instances this year because it tries to curb inflation. And financial specialists are being requested concerning the probability we’re heading into a recession

During a time of uncertainty, a diversified portfolio is essential. So, remember to consider your investments.

“In this inflationary environment, as with any period of high uncertainty, investors should reflect on their goals, time horizon, and tolerance for risk. If you determine that you need to make a change after that analysis, you should consider it carefully before making any sweeping changes (such as switching all your investments to cash). …Oftentimes, a moderate adjustment will suffice,” says Jim Dunn, a licensed financial adviser.

Should you purchase a number of shares throughout a recession? How about shopping for gold? Don’t fear about making most of these financial choices by yourself. Lean on an professional for steerage.

“If markets go down, avoid the trap of feeling like you have to do something. Stay focused on your goals and enjoy the long-term benefits of a diversified portfolio,” Vanguard advises.

Retirement planning

Whether you have a 401(ok), Roth IRA or one other sort of plan, there are a number of methods to spice up your financial savings to make sure a clean retirement. It’s crucial to grasp how your plan works and the opposite choices obtainable to you. A financial adviser can evaluation your accounts and create a distinctive plan based mostly in your age vary, present financial savings and targets.

“Financial security in retirement doesn’t just happen. It takes planning and commitment and money,” the U.S. Department of Labor stresses on its website, urging adults to evaluation their retirement financial savings plans, together with advantages supplied by employers.

“It is important to understand how your plan works and what benefits you will receive,” the division added.

Vanguard notes that Social Security will even play a huge position in your retirement, so you ought to maximize your advantages. These advantages symbolize about 30% of aged Americans’ revenue, based on the Social Security Administration. The administration just lately introduced that its 2023 cost-of-living adjustment (COLA) will bounce to eight.7% – the very best in over 4 many years. That impacts the roughly 66 million Americans who obtain month-to-month profit checks. 

An funding administration company like Vanguard can make certain your retirement plan is complete and provides you recommendation on all sources of revenue, from a 401(ok) to Social Security advantages and past. Reach out for help in the present day.

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