If you've always longed to become your own boss, you may be wondering whether toiling away at your day job will ever be enough to gain you the startup funding you need. For many, obtaining the money needed to launch even a small local business can require mortgaging your primary residence or cashing out your retirement accounts, putting you on the edge of a financial precipice even if your business is poised to become successful. Read on to learn more about how visiting a certified financial planner can help you get on the path toward launching your business.

What will you need in order to afford your own business?

Even the world's largest businesses were often started on a shoestring budget or in a college student's dormitory room. The ability to take tremendous risks, even putting substantial financial livelihoods at stake, in order to pursue a business venture one truly believes in is indeed the mark of just about every successful entrepreneur. However, putting your assets at risk for an idea that may not have solid footing could leave you in debt or even bankrupt after a few short years. There are some factors you'll want to consider when determining whether (or when) you can afford to open your own business, including: 

• Your insurance prospects

If your spouse has a stable job that provides health insurance and other benefits, taking the plunge can be far less risky than if you need to secure your own insurance benefits. Paying for a health insurance policy that covers you and your family can be pricey, and may take a significant chunk of the profits you'd otherwise invest in your new business.

• Your non-savings savings

Like health insurance, many W2 jobs provide pensions or other future defined benefits that can help tide you over during your retirement years. Cashing out a 401(k) can be a less risky prospect if you know you'll have a pension to rely on in retirement.

What can a certified financial planner do to help?

If you're still on the fence, you may want to schedule a visit to a certified financial planner. These professionals can provide a holistic look at your budget, assets, and net worth to determine how much you have to spare for your new business and what you'll want to reserve back in case of emergencies. Even if your financial planner has to deliver the sad news that you're not ready to pull the trigger yet, he or she may be able to provide you with the tools to get on the right path toward opening your business.