How Much Money Should You Have Before Hiring a Financial Advisor?

How Much Money Should You Have Before Hiring a Financial Advisor?

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[skootermcgavin]

commenting for the algorithm. good clip

[ELIRAXPRT]

I agree with most of what you guys put out on this channel but the the dollar amount is irrelevant. $400k may be an advisors’ minimum to bring on a client but anyone at any asset level can benefit from working with a financial advisor. The hard part is finding an advisor willing to take on a small client they aren’t making any money on.

[DavidEVogel]

If your family income is $100k/year, and are broke, you need a financial advisor.

If you are financially responsible all your life, and you have a million in assets, no need for an advisor.

[jaywolff]

thanks for all the great information, can't say I'm at the point of wanting to have assets under active management but will defiantly keep you guys in mind when I feel I get to that point

[rebeccahileman]

I’m curious what step in the order of operations should you expect to be when you reach the point of needing a financial advisor. I would say I’m on step 5, but I don’t put money in a roth I put it all in the 401k because payroll deductions are such an easy way to save 😬

[indrajitbanerjee]

Thanks for the great advice as always. Commenting for the algorithm

[sahoyt]

My biggest regret is not getting a financial advisor sooner. I could be retired by now. We have a great one and they do our taxes. I wish I had started 20 years sooner when our net worth was small. They are much better at seeking alpha than I am!

[loganblevins]

I’ve had an advisor from the start. We’re around the quarter of million net worth zone now and don’t regret it. It’s good to have those with great wisdom pour into you.

[michelleandary]

Could you please define fee only advisor. 1% no matter what, or they only get paid if your portfolio grows?

[brewdub]

I wish you would define a fee only advisor. Because the way you constantly say fee only can mean a few things.

[MissLVang-wtpy]

Wait... don't get an financial advisor until you have $400k?! Where should i invest if i have less than that?