Why Your Student Should Consider Becoming a Financial Planner
By Elana Goodwin, The Ohio State University
If your student will be entering the workforce soon and is starting to look for jobs, a wise potential career they should consider is financial planning, according to a recent press release.
With the demand for financial planners increasing, this career will offer your student some security. According to the Bureau of Labor Statistics, the number of financial planners is expected to grow four times faster than other professions. As a financial planner, your student will have opportunities for growth and flexibility, and be able to give back to the community and individuals in a beneficial way as they’ll make a difference in people’s lives by helping them set and reach financial goals.
“There’s so much transformation in one’s life when they get their finances together,” said Brittany Castro, a Los Angeles-based Center for Financial Planning (CFP) professional. “It’s a great feeling because I know I helped them get there.”
From helping create a budget to starting to plan for retirement and helping someone navigate their taxes and insurance coverage, CFP Pros contribute to their communities, assisting members with their financial lives and future plans.
If you’re not sure if financial planning will be the right fit for your student, don’t let preconceived notions about the career and misconceptions deter you from suggesting the field to your student.
They don’t have to be a big math person or savant to be a financial planner. Financial planning goes beyond math and is also about creatively tackling problems, establishing good relationships, and effectively communicating. CFP Pros assist people in looking at the big picture in regards to money and financial planning.
Further, financial planning will allow your student a nice amount of freedom and flexibility, which will help them keep a healthy balance of work and having a personal life. Plus, there’s no one right path to financial planning — they can work for themselves or join a firm, whichever will be the right fit for them. In fact, in 2014, roughly 1 in 5 personal financial planners were self-employed, according to the Bureau of Labor Statistics, and the median pay for personal financial planners is about $89K.
So if your student is starting to look into job opportunities and different career paths, advise them to add financial planning to their list — it may be a perfect profession they wouldn’t otherwise think to consider!