3 Reasons Why a Financial Advisor is Worth the Money

3 Reasons Why a Financial Advisor is Worth the Money

Let’s make sure you’re on the path to financial success - then help you stay there!
The Money Guy Show takes the edge off of personal finance. We’re financial advisors that believe anyone can be wealthy! First, LEARN smart financial principles. Next, APPLY those principles! Then watch your finances GROW!

We can’t wait to see you accomplish your goals and reach financial freedom! New shows every week on YouTube and your favorite podcast app. Thanks for coming along on the journey with us.

[Shawn-ohyq]

Also make sure that the person you are looking to hire is actually a financial advisor, not just some swindler looking to sell you life insurance or other products.

[CourtneyFenton]

I'm a financial advisor myself and the information you spread is so wholehearted and trustworthy. You two are amazing. Thank you.

[WilliamBati]

Just educate yourself on the main points using books from the library.
.
1- Know your average monthly Budget. Track it using online tool and slice it with Excel or pen paper.
2- insurance: medical, homeowners, umbrella, disability, life insurance (term, never whole)
3- Savings: emergency fund equals 3 to 6 months of his monthly expenses. 529s.
4- Investments: Brokerage account. Mutual Index funds. UtMA and 529s
5- Retirement planning: 401K, pension, Roth and IRAs, FSA. Understand RmD for each of those.
6- Estate Planning: Trusts, Will, Gifts, Beneficiaries, Succession for management of his rentals, tithing/donations
7- Misc.: Monitor credit reports annually, understand loans and use credit cards wisely.
.
If after reading about these concepts you feel you still need a financial planner, at least you’ll be able to understand the conversation and ask smart questions.

[RinaHwang]

My financial advisor is free and is worth every penny

[Markazoid]

You can just put a percentage of your investments with an advisor and compare how you do to them . Some people do 33% themselves 33% advisor and 34% index funds and see which ones do better over time. And you have someone to bounce ideas off of advisor.

[danelston]

Is there a minimal frequency that you don't recommend DCA'ing? I do $25 a day. Wife does $500 a month. Any evidence to suggest an adequate timing of purchasing? Thank you!

[RichieCue]

@moneyguyshow do you guys require your clients to provide an SSN as part of paper work? A financial advisor I was going to use required us to.

[joemygawd]

My wife and I are both hospital workers with with 403b’s(target date index funds). We don’t have cash or inheritance that need to be invested. How can a fiduciary help us?

[Steviewonderwhy]

I need some advice I inherited $215 thousand and my mortgage I owe is $160 thousand left 12 years left on a 15 years mortgage rate is 1.87 conventional $1500 a month should I pay it off? I don’t know what to invest in safe investment low risk that will earn more then my mortgage rate I refinance that rate during COVID 2020 roll the closing cost to mortgage previous rate was fha loan 30 years 3.85

[WilliamBati]

Most Financial Planners love to keep things complicated to make you believe you always need them. Educate yourself!

[marc]

The vast majority only need a fee based advisor at most, the percentage based ones are just leeches. If you are clueless and don't want to learn or incapable then you should get an advisor. If you get a 1% advisor you would give up 27% oof your portfolio after 30 years at 7%. Do you want to lose $500k of your 2 million dollar portfolio. Get them for one year or two at most to see what they do then drop them.

[coderlifer]

The only reason you need a financial advisor is that you are either a child or you don't know anything about money. If you were able to save your hard-earned money, chances are you know about money. You will have no trouble learning how to invest it by doing it yourself. Paying someone 1% or more of your total investment whether the market is up or down is a rip-off. LOL
Just do the math, if you have a $1M portfolio, you'd be paying your financial advisor $10, 000 a year. For a period of 10 years at 4% growth, you'd be giving your advisor close to $125, 000. That's assuming the portfolio remains at $1M and you are withdrawing the earnings. We all know that the market is not up all the time. Historically, there were times when the S&P500 was down by more than 20%. Even if you are losing money, your financial advisor will still charge you $10, 000 a year.

[laurinatee]

Amazing video and thank you for breaking it down!! Despite the economic downturn, I'm so happy 😊I have been earning $ 60, 000 returns from my $7, 000 investment every 12days.

[teddyruxpin]

do about exactly 30 minutes of education. It will save you 100 of thousands of dollars instead of giving to a leach.... oops i mean FI.