So in my jobs, there has always been like a broker (Fidelity, Principal, etc) that manages my 401k and i can always reach out to them for financial advice. In my new job, during my enrollment, it looks like I’m picking the funds myself and there’s isn’t a ‘broker’ that manages the money. In that case, who do I reach out to if I have question about financial planning? Should I be reaching out to those Edward jones office? I always wondered why these offices exist…but is this a situation where I need to find my own financial advisor? Do they just give advice or do they actually help manage the funds? #personalfinance #investments
Are you working for Microsoft? They used to have financial advising as a benefit.
I no longer work for Microsoft, and I’m actually more interested in the retirement planning piece
Does your 401K have advisors you can call? If you’re looking for help on their funds, that can help. If you’re looking for someone to help with your overall financial picture for retirement, then a financial advisor can definitely help. I’d look for an independent fiduciary. Ask people for recommendations. There are various levels of advisement and management. You’ll have to find one that matches what you want.
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Assuming u have another 30 years to retire the best risk reward is find an etf that mimics the s&p 500. No financial advisor will beat that over that time horizon