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An employer-provided financial professional can help you plan for a successful retirement and navigate a wide array of financial decisions and challenges. Unfortunately, many people fail to take advantage of this valuable resource because they believe one of the following myths:

1. Financial advisors are only for the rich. You could actually make the opposite case — a financial advisor is even more important for those who aren’t independently wealthy. Good financial advice can make the difference between retiring comfortably on time and remaining in the workforce for years longer.

2. Nobody can “beat the market,” so why bother? While returns are never guaranteed, there are many reasons to work with a financial advisor beyond selecting investments. They can help you create a budget, determine how much house you can afford, plan for your children’s college education and help you manage debt.

3. I’ll lose control of my money. You will always maintain control of your investment funds while working with your employer-provided financial advisor. Their role is simply to explain and give advice, but you’ll always have the final say regarding all financial decisions.

4. They’ll make me feel embarrassed about my spending. A good financial advisor helps their clients make better decisions through education and support — not by judging or embarrassing. They should never make you feel bad about any lack of investing experience or ongoing financial challenges.

5. I’m in a target date fund (TDF), so I don’t need advice. Target date funds adjust risk according to your planned retirement timeline, thereby automating a certain amount of decision-making. However, you may still want to discuss your contribution levels to the TDF as well as a host of other issues, such as the ones already mentioned. Your personal finances comprise more than just your retirement account, and your adviser can be helpful in many different areas.

6. I won’t understand what they tell me. Your advisor can explain financial concepts and investment options in a way that matches your level of understanding and experience. If you don’t understand something, ask for an example. You may also receive written materials or videos that you can read or view on your own. In short, it’s their job to explain things to you in a way that you can understand — no matter your level of expertise.

7. They’ll pressure me to put my money in risky investments. You’ll always have final say over how to invest your money. An advisor should conduct an investment risk assessment to help gauge your personal risk tolerance and make recommendations that are appropriate to the level of risk you’re comfortable with.

Don’t believe any of these myths and potentially miss out on a valuable and useful employer benefit. Schedule a meeting with your financial advisor today to discuss retirement planning and any other financial goals you have.

Sticking to a budget is hard enough normally — and things are anything but normal right now. Unfortunately, this is one more area of our lives that’s a lot more complicated since the pandemic began. Just as many folks are rethinking how they work and grocery shop, it’s a good idea to look at your household budget and consider whether some adjustments are in order.

Budgeting is about planning ahead. But before you do that, review changes in your spending habits since the COVID-19 crisis began. While it may feel like you’re saving money by eating out less or staying home, there may be other areas where you are, in fact, spending more than you did before the pandemic. These might include groceries, utilities and even household repairs, as appliances and other systems in your home deal with increased demand.

Once you have a good sense of the increases and decreases in your spending, adjust your budget accordingly. Then, consider the following:

1. Bolster your emergency fund. Whether or not you’ve had to tap your emergency fund, consider adding to your safety cushion. With the future still uncertain, see if you can squirrel away an extra $50 a month to put toward repairs or other unexpected expenses. Adding to your Flexible Spending Account (FSA) or Health Savings Account (HSA) can also help cover any unanticipated medical costs.

2. Review discretionary spending. Some budget items are necessary expenses, such as food, housing and utilities, while others are optional. Review your discretionary spending, such as multiple streaming services and nonessential clothing. Consider cutting back on these temporarily to liberate additional money for building your emergency fund or paying down debt.

3. Seek out savings on essential spending. Curb grocery bills by using paper or online coupons. Buy in bulk and look for lower-cost meal options that include pasta, beans and in-season vegetables. Cut back or eliminate alcohol purchases. Getting creative with leftovers can also help. Look for new budget-friendly recipes to add to your meal-planning repertoire. Many auto insurance carriers are offering discounted rates as well, so check to see if yours is one of them. You can lower monthly insurance payments by increasing your deductible, but only consider this strategy if you can afford the higher out-of-pocket expense.

4. Negotiate with creditors and service providers. If your budget is straining, speak to your lenders to see if they can lower your monthly payment or interest rate. They may even allow a forbearance of payments altogether. If you have a mortgage, investigate whether refinancing that loan makes sense for you. Call credit card companies and ask for a lower interest rate or consider a balance transfer to a card with a more favorable fee structure.

5. Review your retirement plan. Try to avoid dipping into your 401(k) as this could potentially set you back years on your retirement timeline — as can lowering or stopping contributions. It’s particularly important to contribute the minimum required to receive any company-match funds if possible.

Many American families are feeling the crunch right now. You’re not alone. Seek out guidance from those who can help. Setting an appointment with your financial advisor is a great place to start during this challenging time. If you’re under a great deal of financial stress, talk to supportive friends and family. And, if necessary, obtain professional help from your Employee Assistance Program (EAP) or a qualified counselor through your health insurance plan.

Having a financial advisor is like having a tennis or baseball coach. While you want them to track your performance throughout the year during routine practice, there are also key moments during a big game when you look to them for important advice. So, when exactly should you touch base with your advisor?

1. When you land your first job. This is an excellent time to schedule a meeting with an adviser about setting up a monthly budget and starting to save for retirement. If your employer offers a 401(k) plan, a financial advisor can help you decide how much to contribute and how to allocate your contributions.

2. When you leave or change jobs. If you’re taking a hit in income, your advisor can give you strategies about how to adjust your finances until you find that next job. And they can walk you through options regarding your 401(k) plan from your previous employer — such as rolling those funds into an IRA or transferring them into a 401(k) through your new job.

3. When you get married. Getting married can change your personal finances significantly. Are you going to merge your funds or keep them separate? If you are now going to be a dual–income family, what will you do with that additional income? What about life insurance needs?

4. When buying or selling a home. An advisor can help you figure out exactly how much house you can afford and, along with a tax professional, plan for any tax consequences. Finally, he or she can help you adjust your budget to accommodate all of your home mortgage and maintenance needs as well as continue to invest toward retirement.

5. When you have children. Children are bundles of joy that can also cost your bundle. Getting professional advice about how to manage child-rearing expenses can be extremely beneficial. An advisor can also help you set up a dedicated college fund to plan for your child’s educational needs down the road.

6. When you receive an unexpected windfall. Whether it’s a large bonus or an inheritance, you want to plan for any unanticipated funds. There can be tax obligations, and you need to make decisions about how to spend or invest that money.

7. When you’re about to retire. The transition from your income-generating years to retirement can be tricky to navigate. Working with a financial planner all along will help smooth out the transition. However, there will still be adjustments to how you manage your money, and an advisor can help you during this critical time.

8. Every 6 to 12 months if nothing major has changed. It’s important to touch base regularly with your advisor, even if your circumstances remain more or less the same. Periodically review your progress toward your retirement and other financial goals, such as debt reduction.

A good financial advisor can help you train and prepare, recover from injury, and come up with a game-winning strategy to get you over the goal line to your retirement years.

There are plenty of ways to romance your sweetheart without breaking the bank. All it takes is a little planning and creativity.

Dining on a Dime

Dinner reservations may be difficult to book this February 14^th, and even if you can score one, it’ll probably come with a hefty price tag. Why not cook up a meal from scratch with some romantic ambiance at home? Lay out a white tablecloth, light some tapers, eat off the good china and prepare a dish they’ll love, whether it’s spaghetti and meatballs, chicken cordon bleu or stir-fried veggies with tofu. You can linger at the table as long as you want, and you don’t need to leave a tip.

Cut Candy Costs

Forgo the pricey store-bought chocolates for a sweet home-baked treat. The price of fancy foil-wrapped confections in heart-shaped boxes can be a budget buster. But you can do something a lot more unique that shows you’ve put your heart into each and every delicious bite. Bake a batch of mini cookies, cupcakes or homemade fudge and pack a love note with them.

Frugal Flowers

Red roses are so commonplace on Valentine’s Day that they’ve become almost cliché. Break the norm — and save money — by giving your loved one his or her favorite flower, whatever that may be. A bouquet of daisies, peonies or gardenias with their amazing perfume can go a long way toward helping your romance bloom. Or gift a live flowering plant to symbolize how your love will grow over time.

Gift Thrift

Present your sweetheart with one of these frugal-but-fabulous tokens of your affection.

1. Budget-friendly bauble. If you want to give jewelry but can’t afford something 14-karat, take a stroll to the local vintage shop and find an interesting treasure with a history for a fraction of the price such as a ruby red rhinestone or a sterling silver locket.

2. Memory montage. Another great idea is a small photo album. As most photographs stay on hard drives these days, a memory album is a lovely keepsake. Be sure to add some blank pages at the end to leave room for the memories you’ll make together in the future.  

3. Love story. Purchase a poetry book, a love story or even a coffee table book of Renaissance artwork. Then, inscribe it with a dedication. Remember, you don’t have to be Shakespeare — it’s the sentiment that counts. 

Economical Entertainment

There are plenty of low-cost, high-romance activities to choose from. How about a romantic stroll through a museum gazing at masterpieces depicting lovers through the ages? Or visit a public garden and steal a kiss among the snowdrops? If it’s cold enough, head out for some ice skating and then snuggle by the fire with a cup of hot cocoa — with marshmallows of course!

The Finale

Wrap up the night by lighting some candles and slow dancing to a personalized playlist of your favorite ballads. Remember that the best things in life are often the things that money can’t buy.