We asked. You answered. Then we turned to the professionals.
In honor of Financial Literacy Month, we asked your most pressing financial questions—from estate planning to insurance to career choices—and brought them to our trusted panel of Financial Advisor Contributors. Their insights aren’t just smart—they’re real, actionable, and designed to help you protect your future. Let’s dive in.
Should I take a job with lower pay but better benefits?
“Learning and experience are your most valuable currency early in your career.” — Tim Woodward, CFP®
It’s tempting to chase a higher salary, but Tim Woodward, CFP, managing partner of Blend Wealth encourages a longer view. Early in your career, focus on who you’re learning from and the variety of experiences you’ll gain. These investments in your growth can pay off in bigger roles—and better compensation—down the road.
Ask yourself: Will this job help me become who I want to be in 3–5 years? If the answer is yes, the short-term trade-off may be worth it.
How do I know when it’s time to work with a financial advisor?
“A financial advisor, leveraged the right way, should be viewed as a life advisor—through the lens of wealth.” — Michael Fiammetta, Wealth Planner
Financial advice isn’t just for the wealthy or those facing major life changes. According to Michael Fiammetta, Wealth Planner at 4 Generational Wealth Management, it’s about connecting your present to your future—proactively. Think of an advisor the way you would a doctor or personal trainer: someone who helps keep you on track, not someone you only call when something goes wrong.
Working with a financial advisor early—sometimes even starting with education around savings for kids—can set the tone for long-term success. It’s about more than numbers. It’s about making empowered decisions that support the life you want to build.
Do I have enough life insurance?
“It’s not just about a number. It’s about what you want life to look like for your loved ones if you’re no longer here.” — Bob Chitrathorn, CFPA®
Both Bob Chitrathorn, CPFA, vice president of wealth planning at Simplified Wealth Management , and Al Faber, CFP, senior wealth advisor at Woodson Wealth Management emphasize that life insurance is deeply personal. It's about protection, purpose, and peace of mind. If your current assets aren’t enough to support the people and causes you care about, life insurance can fill the gap.
Use tools like the “DIME” method—Debt, Income, Mortgage, Education—to evaluate your needs. Or work with a planner who can model what coverage supports your long-term vision. As Al puts it: “Insurance is just a tool. The key is making sure it aligns with your goals and values.”
“If your current assets are already sufficient to provide your legacy, you may be self-insured and not need a policy.” — Al Faber, CFP®, ChFC®, CLU®
What kind of insurance do I really need?
“Insurance isn’t just about what might go wrong—it’s about protecting what you’ve worked hard to build.” — Chitra Patel, CFP®, CPWA®
Chitra Patel, founder of WealthWorth, breaks it down simply: Start with the essentials—health, disability, life, home or renters, and auto insurance. Then consider what fits your lifestyle. For example, umbrella insurance can protect significant assets, while long-term care coverage becomes more relevant with age. Travel or pet insurance? It depends on how much financial risk you're comfortable taking on.
The real question isn’t whether you need every policy—it’s whether you’re protecting what matters most.
Is tax planning part of what a financial advisor does?
“We’re not CPAs, but we absolutely guide clients on how to make smart, tax-efficient choices.” — Michael Fiammetta, Wealth Planner
Advisors work in partnership with tax professionals to create strategies that help reduce future tax burdens. From structuring retirement withdrawals to understanding how estate planning tools like trusts affect taxes, financial advisors help clients make informed decisions—so you can bring smarter questions to your CPA or estate attorney.
Why are women more likely to want full estate planning services?
“Women tend to think holistically and proactively—caring for their families' day-to-day and long-term well-being.” — Chitra Patel, CFP®, CPWA®
This insight echoes what we see in our own data at Trust & Will. Women often manage both immediate household needs and big-picture family planning. That dual role drives a deeper appreciation for estate planning—not just as paperwork, but as a powerful way to protect loved ones, preserve values, and create a lasting legacy.
What are some of the riskiest financial decisions people make?
“The key to long-term financial success isn’t just chasing growth—it’s avoiding big mistakes.” — Tim Woodward, CFP®
Here are just a few of the red flags Woodward has seen:
Pulling out of investments during market dips
Holding too much cash long-term
Buying products you don’t understand
Over-leveraging to buy real estate
Taking on too much consumer debt
Each of these moves can set people back significantly. The solution? Stay grounded in a clear, well-thought-out plan—and get help when you need it.
Why is financial literacy so important for students?
“The habits learned when you're young tend to stick around. Start strong, and you’ll set yourself up for life.” — Charles H Thomas III, CFP®
Whether it’s budgeting, understanding student loans, or evaluating job offers, students make financial decisions with long-term consequences. Charles Thomas, CFP and founder of Intrepid Eagle Finance says that building strong habits early—like spending within your means and comparing financial aid packages—can make the “real world” a lot easier to navigate. “A financial advisor can be like a financial tutor—helping you understand tools and opportunities you may not even know exist.” — Michael Fiammetta
Financial literacy often isn’t taught in school, and that gap leaves many people unsure where to begin. Whether it’s understanding how to leverage a 401(k), open a Roth IRA, or take advantage of tax incentives, early guidance can lead to smarter financial decisions—and fewer missed opportunities.
Not sure where to start?
A trusted financial advisor can help you clarify your goals, uncover risks, and make a plan that works for your life. And when you’re ready to take that next step—whether it’s creating your estate plan or reviewing your insurance—Trust & Will is here to help.
Are you a financial advisor who is interested in partnering with Trust & Will to enhance your own clients’ estate planning needs? Learn more about how you can join over 17,000 financial advisors and firms who are delivering peace of mind to their clients by offering a comprehensive estate planning solution. Schedule a free demo today.
Trust & Will is an online service providing legal forms and information. We are not a law firm and we do not provide legal advice.
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