Finances are complex. Trying to navigate the right actions to take can be difficult when there is contradictory advice everywhere you turn. Searching for the right financial advisor to help can be just as overwhelming. You may have a general idea of what you should be looking for, but may not entirely understand why or how to find the right person for you. As a starting point, here are 3 tips to narrowing your search for a financial advisor.
The IRS requires you to pay tax throughout the year as you earn income. If you are an employee, your employer withholds income tax for you based on your instructions on Form W-4. If you are self-employed, you may need to make quarterly estimated tax payments to avoid a penalty at the end of the year. It’s usually a good idea to review your withholding at the beginning of the year or after life changes to avoid any surprises at tax time.
Open enrollment is the time of the year when most employers allow employees to make changes to their workplace benefits. It can be overwhelming when your employer gives you what may seem like thousands of options with limited time to pick the "best" option, whatever that means. Instead of feeling anxious about all of your choices, focus on the big decisions you need to make and work through them one by one.