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Why you need a financial advisor before a recession

Carson Kohler
Aug 3, 2022
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You notice it in your monthly bills, in the checkout line at the grocery store, at the gas pump — inflation has become impossible to ignore.

Add in the rising interest rates and talk of a looming recession, and you’re likely worrying about what this means for your financial plans.

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To get through these uncertain economic times, lean on a trusted financial advisor from SmartAsset to help protect your money.

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By signing up, you accept Moneywise Terms of Use, Subscription Agreement, and Privacy Policy.

Why you need a financial advisor

Is now a good time to invest? How much money should you save? What about your student loan payments?

You can Google these questions all you want, but as helpful as the internet can be, it’s tricky to find financial advice that fits your specific needs.

More often than not, there’s no one-size-fits-all answer to your pressing financial questions, especially when the country’s economy is in limbo. The way you budget, invest, spend and save your money is all, well, personal. That’s why it's called personal finance.

To get the right answers to your money questions, find a financial advisor through SmartAsset.

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What does a financial advisor do?

Financial advisors don’t just manage money for millionaires. Nor are they only for folks approaching retirement. Anyone can work with and benefit from a financial advisor.

SmartAsset will match you with a financial advisor who can help you:

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  • Prepare for the unexpected. If the economy slips into a recession, how could that affect your investments or your nest egg? Although a recession is out of your control, a financial advisor can help you plan ahead and brace your bank accounts.
  • Plan your retirement. Whether you’re retiring in five years or 30, the sooner you start planning, the better. A financial advisor can help you develop a personalized strategy that protects you and your money against market volatility.
  • Relax. It might sound flippant, but a financial advisor can provide you with peace of mind. Oftentimes, managing your own money brings stress and doubt about whether you’re doing the right things. A financial advisor is a confidant who can support you through taxes, estate planning, debt payoff strategies and more.

But not all financial advisors are created equally. Through SmartAsset, you’ll only be matched with advisors who are vetted fiduciaries. That means they’re legally bound to act in your best interest, so you can trust them with your hard-earned money.

How to find the right financial advisor for you

Finding a financial advisor doesn’t have to mean schlepping across town to dozens of meetings. You can get matched online through SmartAsset, along with the 50,000 people using SmartAsset’s matching tool each month.

To find your advisor:

  1. Answer some questions about your financial situation and your retirement and investment goals.
  2. Let SmartAsset match you with up to three advisors in your area who can provide expertise based on your personal situation.
  3. Review the advisors’ profiles. Reach out via phone or schedule an in-person appointment to determine who you want to work with.

Depending on your goals and your budget, you can opt for a traditional advisor who will sit down with you in person, or you can use a robo-advisor that’ll digitally manage your investment portfolio. Generally, SmartAsset recommends a robo-advisor for anyone with less than $25,000 to invest.

Whichever route you choose, SmartAsset is completely free to use, and there’s no obligation to work with any of your matches. It’s simply here to help you forge a path to financial security during these uncertain times.

Find your financial advisor today.

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Carson Kohler Contributor

Carson Kohler is a freelance contributor with Moneywise. Carson is a writer and editor based in the Washington, D.C., area. She’s been writing for the web since 2016, when she graduated with an M.A. in journalism from the University of Missouri.

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