Financial Services That Self-Employed Individuals Need

Financial Services That Self-Employed Individuals Need

Self-Employed individuals are focus-driven toward the solutions, especially where others would only encounter problems. While these individuals do enjoy the platter of freedom and decision-making, they lack the pillars that are necessary to attain a fitting wealth management goal. The arsenal of self-employment inculcates the foundations of understanding finance and its significance within these individuals. Ultimately, the flexibility they drive toward their financial goals is splendid yet dragged backwards due to the several financial challenges and responsibilities they face.

Goal planning becomes the root step for these individuals, as they have control over their financial situation and can derive an accurate picture of their budget. Yet, with a wide range of options available in the market, a financial plan must be based on more than just budgeting and investing. Often, these individuals fail to consider and discover other available options that may yield more productivity toward attaining their financial objectives. However, with the advancement of technology and the fast-paced routine, securing one’s future tops the list of every individual.

Financial Services & Self-Employed Individuals

These individuals have a keen perspective toward personal finance revolving around business; however, the same story cannot be retold for a secure future. While availing of the services and expertise of the financial planners or certified financial advisors account as the optimal choice, it is integral to have self-knowledge on these segments. Below are a few financial services that are ideal for every self-employed individual.

Retirement Planning

A majority of individuals incline toward investment planning; however, retirement planning is equally important. Unlike a job or job employment, self-employed individuals do not have the luxury of retirement savings or retirement plans that others are entitled to. Hence, upon their retirement, they are faced with fighting off on their own. With a guided plan, self-employed individuals can take the lead and craft a retirement plan that caters to their needs and goals.

Debt Management

Being self-employed, these individuals are prone to dealing with credit while also having certain amounts of debt piling over them. However, these debts can pose a threat to the future well-being of an individual, especially after retirement. From business loans to home loans, self-employed individuals are the primary percentage of candidates who avail of such loans. A financial planner can formulate a financial plan that balances asset and debt management.

Investment Plan

Investment planning is the center of attention when the conversation speaks of financial goals or financial plans. However, for self-employed individuals who need working capital and a side resource of funds, having certain investment strategies may pay off well. Financial planning based on the requirements and financial situation of a self-employed individual can procure maximum gains from a planned investment strategy.


In the quest for a prosperous future, self-employed individuals must prompt toward the services of financial advisors and planners. Combining these financial services is essential in deriving a stronghold financial plan. The ideal option is to rely on the financial advisory services of institutions, such as 1 Finance, that uses their patented personality assessment module – ‘MoneySign®’ – to identify the most dominant behavioral patterns in individuals, which help them in understand how their behaviors and emotions impact their personal finance choices, and also gives them a fresh self-perspective.