The Advice Financial Planners Only Share with Their Siblings

Von Tobel recently spent a weekend with extended family, and one of her cousins was talking about her upcoming wedding. The CEO couldn't help but tell her cousin that she and her fiancé needed to consult a financial expert. "For any major event you are going through in your life—having a baby, buying a home, selling a home, changing jobs, starting a small business—it is absolutely worth it to make sure you consult a financial expert," von Tobel says. Take buying a home, for example. You may have a lawyer to help you through all the mortgage legalese, but that person is not necessarily looking out for your big-picture financial interest. Spend the extra $300 to $500 to consult with a financial planner to make sure you aren't overborrowing, or making a tax mistake—like missing out on a cash-saving abatement you might be eligible for (the rules for receiving them are complicated and vary depending on where you live).