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re: Does anyone have a financial advisor? How did you decide that you needed one?
Posted on 11/22/24 at 11:58 am to RoyalWe
Posted on 11/22/24 at 11:58 am to RoyalWe
quote:
Financial advisors are for financial idiots or those with extremely complicated situations. It's a target-rich environment for FAs.
For the most part this. FA's generally speaking are for people that don't want to spend the time to learn how to invest themselves. Its really not that difficult especially for someone that is like the OP with a finance/ accounting background and top 5% earner.
The times you can really use a FA is family planning, someone that can work with a CPA for better tax planning, and for things like insurance or other diversifications that maybe missed by someone that's not in the field.
0
Posted on 11/24/24 at 8:13 am to dewster
I have had one most of my career. There was a stage in my life where I was unable to invest outside of 401K and I wondered if I needed one anymore, but now they are very helpful in reducing tax burdens, offering new products (that perform), helped me get a huge life insurance policy, and helped me with estate planning and a will. I like the overall convenience.
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