I have been trading/investing and learning the market since I was in college(8+ years) and I feel like I do decent. I also do my own budgeting and retirement savings. Given that information I still feel that sometimes a financial advisor could help me even further. Is there a real good reason to still go see one if I take care of everything on my own? Maybe I should go see one once I get married in July? What does the money board think?

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Posted by The Easter Bunny

Minnesota

Member since Jan 2005

45568 posts

Posted on 2/17/15 at 8:11 am to b-rab2

I'm in a similar situation in that I think I've got a good enough handle on my finances right now. Interested to see responses on why people prefer one way or the other

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Posted by Janky

Team Primo

Member since Jun 2011

35957 posts

Posted on 2/17/15 at 8:45 am to The Easter Bunny

If you can do it and enjoy it then do it yourself.

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Posted by abitabrewed4LSU

Houston, TX

Member since Feb 2009

1078 posts

Posted on 2/17/15 at 1:29 pm to b-rab2

At what salary or $ amount would make it worth it as well?

I wonder this too.

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Posted by b-rab2

N. Louisiana

Member since Dec 2005

12576 posts

Posted on 2/17/15 at 1:54 pm to Janky

I almost want to go to one and say "Here's 20K. Let's see who makes more money at the end of the year with it." If they make a better percent than I do with my own research and trades, they get more money, if not, I shall taketh away.

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Posted by undrafted

DHA

Member since Oct 2009

1000 posts

Posted on 2/17/15 at 2:04 pm to b-rab2

I actually invest some on my own and some with a financial advisor. I think having a financial advisor makes you more conservative because you have someone to review your decision. They will make sure you choose the right investments and the right accounts to have.

That said if you have less than 25K you should handle it yourself. Just research some mutual funds and go with them. That's actually what my financial advisor told me.

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Posted by ynlvr

Rocket City

Member since Feb 2009

4587 posts

Posted on 2/17/15 at 4:34 pm to b-rab2

quote:
"Here's 20K. Let's see who makes more money at the end of the year with it."

You need to think long term. That is where a financial advisor can help. Short term is gambling.

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Posted by Janky

Team Primo

Member since Jun 2011

35957 posts

Posted on 2/17/15 at 4:37 pm to b-rab2

quote:
Here's 20K. Let's see who makes more money at the end of the year with it." If they make a better percent than I do with my own research and trades, they get more money, if not, I shall taketh away.

[quote]

I willing to bet 90% of the FAs out there would tell thanks but no thanks.

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Posted by b-rab2

N. Louisiana

Member since Dec 2005

12576 posts

Posted on 2/17/15 at 5:26 pm to ynlvr

Think long term??? I am thinking like long term but why pass up the opportunity to 8-10% year over year vs "thinking long term" and not making much that first year and waiting for a mutual fund break out. I've had a few mutual funds for a few years now, they don't make shite.

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Posted by raw dog

Baton Rouge

Member since Nov 2011

483 posts

Posted on 2/17/15 at 6:02 pm to b-rab2

Feel like they come more into play on the planning side; i.e. setting you up with your money properly allocated in the right type of investment vehicles with regards to taxes, estate planning, etc.

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Posted by kaaj24

Dallas

Member since Jan 2010

608 posts

Posted on 2/17/15 at 7:12 pm to b-rab2

I would just go see a fee-based planner to make sure you've got a plan in place to reach your goals. College education fund for kiddos, appropriate amount of life insurance, saving enough for retirement, etc.

I don't want to use a person who makes commission based on transactions or try to put you into American or like funds be the same person consulting me on my optimal approach. Don't feel there is 100% alignment.

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