Many workplace advisers focus on money matters that involve the company directly, through its policies and programs, including:
- Payroll savings programs
- Insurance, including life, health, and disability
- Savings and investment programs
- Stock purchase programs
- Tax planning
- Help with adjusting your savings after a pay raise.
A workplace adviser may be able to link you with opportunities in the company that fit your personal goals, needs, and interests.
Why might I need more help?
If you're like many people, your financial needs go beyond what a workplace adviser handles. For example, you may want advice about:
- Setting clear goals for the future
- Creating a budget that helps you live within your means
- Paying down debt
- Finding ways to save money to invest
- Taking care of your insurance needs in order to protect your family and property
- Buying a home or paying off a mortgage
- Putting a plan in place to save for your kids' education
- Planning for retirement
- Estate planning to take care of your last wishes and avoid unnecessary taxes after you die.
Also, to create and carry out a long-term financial plan, you would likely need a full-service adviser who can introduce you to a wider range of products than you can get at work.
Remember: A workplace adviser can be a good place to start
In most cases, they will not be able to help you with all your financial needs.
Content in this section is provided in partnership with the Investor Education Fund, a non-profit organization promoting financial literacy to Canadians. To find out more go to GetSmarterAboutMoney.ca.