Financial Planning

Personal Financial Advisor Options: Actual Advisor VS Robo-Advisors and Software

A personal financial advisor comes in different forms. You can consult with an actual advisor on occasion to help you with the most important financial decisions in your life. You could hire someone to provide you with both short-term and long-term services. Or, you can use an online robo-advisor and make use of financial planning software.

The latter option is ideal for anyone who at least has a basic understanding of technology. There is very useful software that can work on desktops and any other device and OS you prefer to use. Low-cost services such as this are always worth consideration. While you might not think that getting advice from a robot could ever be better than getting advice from a human being, you won’t have to worry about things like mathematical errors with robo-advisors.

Also, any personal financial advisor you “hire” will probably be using software and robot technology themselves. There are some robo-advisors that are more generalized and broad, while others are very specific and increasingly become more advanced and intelligent. Personal financial software can give you insight into any possible decision that you might have to make, including career choices, retirement planning, and housing decisions at any age and stage. It can calculate every possible scenario and possibility.

If you are interested in investing, a robo-advisor program will give you an analysis that allows you to see all of the risk and reward involved in different strategies and spending behavior.

Personal Financial Advisor With a Simple Base

Depending on your needs, you can get a simple base plan that will provide you with the ideal steps to help you go in the right direction in life. The next step would be to work on a more specific plan that includes tons of details and comprehensive reports. With optimization engines, the software can analyze literally thousands of scenarios to determine the best ways to do literally anything in order to potentially earn you the most profit.

As mentioned above, the only potential negative of using a robo-advisor as a personal financial advisor is that it does not have a “human touch”. While humans are more susceptible to errors, they are also better with improvisation. It’s good to have at least a human advisor to occasionally request assistance from.

If you still want to go the traditional route and hire an actual financial advisor, or one to consult with from time to time, you should inquire as to what kind of software programs THEY use, and do research to make sure those programs have high ratings.

Regardless of your choice of a personal financial advisor, the best software and “robo-advisor” company is MaxiFi. It has so many useful features such as Risk Analysis, Progress Tracker, Savings Calculations, Tax Calculations, and optimized portfolios. MaxiFi Planner ratings are mostly high.

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