Financial Advisors Aren't Just for the Wealthy. Here's Why You Need One for Your Retirement

"The data is very clear that having a financial advisor makes a big impact on your savings balance. In fact, a recent Northwestern Mutual Planning and Progress Study revealed a startling difference between those with a financial advisor and those without one. People who worked with a financial advisor had around double the retirement savings compared with people who didn't get professional help."

"Investing for retirement is a huge challenge if you don't have unlimited money and you have pressing financial needs that you have to fulfill today. It's easy to let retirement investing slip through the cracks and to save too little. When you work with an advisor, they can help you come up with a comprehensive plan to manage your money so you can afford to make the necessary investments. Your advisor can:"

Many financial advisors work with everyday people to help them maximize limited resources and prepare for retirement. People who work with advisors often accumulate substantially more retirement savings; a Northwestern Mutual Planning and Progress Study found those with advisors had around double the retirement savings of those without professional help. Advisors create comprehensive plans to balance current financial needs with future goals, automate and prioritize savings, select retirement accounts, and guide investment decisions. Advisors help prevent retirement saving from slipping through the cracks and support discipline, tax-efficient strategies, and long-term planning to improve the chances of a secure retirement.

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