When in one's life should they start using a financial advisor?

IBM / Eng WYmS28
Jun 12, 2019 8 Comments

I've for the most part managed my finances myself (investments I just let a robo-investor choose index funds (betterment, wisebanyon, etc)). I've saved at least 20% of my take home every year.

I rent a condo at $2000/mo (TC is $140k)

For 401k, I chose half a higher risk mutual fund (fidelity contra fund k) and half total stock market index fund. (I'm still in early thirties and have no dependents)

Do I need to use a financial advisor or just keep doing what I'm doing?


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TOP 8 Comments
  • Amazon hot 🍞
    The point of a financial advisor is to :
    1 take your money
    2 tell you to invest
    You're already investing... No need. For the complex stuff, go to Reddit financial advice.
    Jun 12, 2019 0
  • IMPORTANT: have them adhere to a “fiduciary standard.”
    Jun 12, 2019 0
  • Amgen Fin4eng
    Financial advisor = never
    Financial planner = periodic checkup (5-10 yr) for ~$1-3k financial review and recommendations if you are on track
    Jun 12, 2019 0
  • State Farm sKaz62
    The reason why financial advisors/planners will continue to be very useful for many people is largely due to everyone being different and having different needs and goals.
    What I need today will be different in 5 years. A website or a forum like this cannot provide the service/personalized advice.

    Financial planning is more than investing in the market.
    Jun 12, 2019 0
  • State Farm sKaz62
    A good financial planner will look at your current situation, your current goals, future plans, potential concerns and risks and put a plan together for you.
    Putting all your money in the market is not normally recommended.
    Jun 12, 2019 0
  • Amazon


    Microsoft, Oracle
    Never use financial advisor, but get slowly educated. Start slow with index funds.

    You only need advisor once crossed 5mil.
    Jun 12, 2019 0
  • Microsoft kotmat
    the only financial advisor that cares about your financial welbeing is you
    Jun 12, 2019 0
  • Amazon idbfbdhc
    A financial advisor may be able to make you some more money with strategic moves, but it can also add risk that will lose you money. Furthernore, they will skim money off the top for their payment, so it's harder to reliably come out ahead.

    Just keep your goals in mind and ensure you are set up in a way you're comfortable with in terms of your own risk and how your assets are growing to hit your own goals. I think you can just keep doing what you're doing.
    Jun 12, 2019 0


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