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

IBM / Eng
WYmS28

Go to company page 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?

comments

Want to comment? LOG IN or SIGN UP
TOP 8 Comments
  • Amazon
    hot 🍞

    Go to company page 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
  • ADP
    p95 SRE

    Go to company page ADP

    p95 SRE
    IMPORTANT: have them adhere to a β€œfiduciary standard.”
    Jun 12, 2019 0
  • Amgen
    Fin4eng

    Go to company page 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
  • 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
  • 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