Spotlight on the Top 11 Financial Planning Influencers and Experts of 2024

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This article highlights financial planners specializing in areas like budgeting, special needs, estate planning, and support during sudden financial changes, such as job loss. Learn about the key aspects of financial planning and find the right expert for your family’s unique needs.

Introduction

As part of Mamapedia’s Top Influencers and Experts in 2024 series, we’re shining a spotlight on financial planning—a critical tool for families facing today’s uncertainties. Recently, many families have found themselves suddenly facing job and financial insecurity, making it more important than ever to have a solid financial strategy. This article will explore what financial planning means, its various facets, and why it’s essential for families. We’ll also highlight 11 top financial planners who offer expertise in areas such as special needs trusts, education funding, retirement planning, budgeting, and job loss recovery—along with free resources to get you started.

Understanding Financial Planning

Financial planning is the process of evaluating your current financial situation, setting realistic goals, and implementing strategies to achieve them. It covers key areas such as budgeting, saving, investing, tax planning, retirement planning, and estate management. For families, it ensures financial security, prepares for future needs like children’s education, and secures a comfortable retirement—even during challenging times like sudden unemployment.

A key consideration when working with a financial planner is understanding their role as either a fiduciary or a non-fiduciary. A fiduciary is legally obligated to act in your best financial interests, which means their advice is unbiased and focused on your long-term goals rather than their own financial gain. Fiduciaries typically operate under a fee-only model, charging for their services rather than earning commissions on the financial products they recommend.

By contrast, non-fiduciary financial professionals, such as brokers or commission-based advisors, may recommend products that benefit them financially, though many still strive to provide sound advice. Understanding the distinction is important when selecting a financial planner, as it helps ensure that their guidance aligns with your family’s needs and priorities.

Whether you choose a fiduciary or an alternative, the most important factor is finding someone whose values and expertise match your financial goals. Look for transparency in their compensation structure and take advantage of the free educational resources many offer to empower you in your financial journey.

Key Aspects of Financial Planning

  1. Budgeting: Tracking income and expenses to manage spending and save effectively.
  2. Saving and Investing: Building an emergency fund and investing in assets to grow wealth over time.
  3. Retirement Planning: Setting aside funds and choosing appropriate retirement accounts to ensure a comfortable post-working life.
  4. Estate Planning: Preparing for the transfer of assets to heirs, including creating wills and trusts.
  5. Insurance Planning: Protecting against unforeseen events through appropriate insurance coverage.
  6. Tax Planning: Strategizing to minimize tax liabilities and maximize savings.

Importance of Financial Planning for Families

For families, financial planning is crucial as it provides a roadmap to achieve financial goals, ensures preparedness for emergencies, facilitates funding for children’s education, and secures retirement. It also aids in managing debts and instills financial discipline, leading to long-term financial well-being.

Top 11 Financial Planning Experts for Families

Here are 11 notable financial planners who specialize in various aspects of family financial planning, including special needs trusts, education funding, and retirement planning. Each offers valuable resources on their websites at no charge. These experts and influencers are not rank ordered.

  1. Hilary Hendershott
  1. Michelle Perry Higgins
  1. Elaine King
  1. Peter Lazaroff
  1. Phil Fiore
  1. Matthew Ricks
  1. Leslie E. Trowbridge  and Peter Bobolia
  1. Marianne Nolte
  1. John Nadworny, Cynthia Haddad and Alexandria Nadworny
  1. Michele Singletary
  1. Taylor Kovar

Conclusion

Financial planning is a powerful tool for navigating both life’s uncertainties and opportunities. Whether it’s preparing for your child’s education, securing your retirement, or handling unexpected challenges like job loss, the right strategies—and the right guidance—can make all the difference.

The experts featured here offer specialized knowledge and resources to help families take control of their financial futures. Explore their free tools and insights to find the approach that works for your unique needs. Taking that first step today can lead to greater stability and peace of mind tomorrow.

This article highlights financial planners specializing in areas like budgeting, special needs, estate planning, and support during sudden financial changes, such as job loss. Learn about the key aspects of financial planning and find the right expert for your family’s unique needs.

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