Planning with a professional

While it's possible to do financial planning on your own, many people feel more confident about making decisions when they have professional help. You can work with a professional during every step of the process, or you might choose to identify your goals on your own, but turn to someone for help choosing investments and organizing your legal paperwork.

You might find that working with a trained professional can also motivate you to make well-informed decisions and stick with a new spending plan — especially if you're paying for their input. There are many financial professionals who are qualified, and in some cases licensed, to offer help, including:

• A representative from your bank or financial institution

• An accountant, who may have a Certified Public Accountant (CPA) or Personal Financial Specialist (PFS) credential

• A financial planner, who may have a Certified Financial Planner (CFP) or other credential
  
  

• An insurance agent who has a state license and who may have a Chartered Financial Consultant (CFC) credential

• A stock broker who is licensed as a registered representative (RR) by NASD
  
  

• A registered investment adviser (RIA) who is listed with the Securities and Exchange Commission (SEC)

While credentials aren't essential in every case, they can indicate that the person has had specific training. It's also important to find someone you're comfortable working with. Don't hesitate to shop around and interview several potential advisers. You can also ask friends or relatives to recommend someone they trust.