When spouses disagree about money help

Ask NJMoneyHelp

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Q. I have always made investment decisions for our family and now my husband, who has never really been involved in the money, wants to meet with a financial planner. Do we really need to? I don’t want to pay money on top of the fees we pay already for our investments.
— Investor

A. It’s not unusual to feel funny about handing over the reigns for your investments to someone else.

But working with a pro can help, even if you’re savvy about your money.

The key is finding the right financial planner.

“Vanguard did a study that says the average person working with a financial planner gains 2 to 3 percent in value over time, more than compensating for the cost,” said Jerry Lynch, a certified financial planner with JFL Total Wealth Management in Boonton.

He said a good financial planner will look at your tax returns, review estate plans, develop cash flow strategies and help you understand how reasonable your retirement plan is.

“Very few people can try anything and get it perfect the first time,” he said. “Working with a good financial planner will help you avoid mistakes that may expose you to too much risk, potentially running out of money and dealing with unexpected issues.”

Lynch recommends you go through the financial planning process and see if you get value. The cost won’t be much, he said, and if you don’t see value, you don’t need to continue. You have nothing to lose, he said.

Email your questions to moc.p1534715482leHye1534715482noMJN1534715482@ksA1534715482.