When Should You Start Talking to a Financial Advisor?

When Should You Start Talking to a Financial Advisor?

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[dxelson]

Honestly you should only get a financial advisor if you exhausted other options such as education yourself about personal finance. One of the best investments you can make is to invest in yourself such as getting on a course and buying books to shore up your own financial literacy

[terraveteris]

As Brian highlighted in the segment it may not be so much when you want to see an an advisor, it's more when an advisor wants to see you.

[craigbowman]

Thank you for explaining that. Your company rejected me and I didn’t understand why.

[ThePatriots]

People in the finance world have complicated financial literacy to increase business and get more customers. You don’t need a financial advisor.

[kmed]

I feel like $500k for most people won't be reached until almost retirement age. Isn't that too late to start getting professional advice? Getting direct advice earlier will set you up for success later in life. Sure, there is a lot of info online, but that's the problem, it's information overload and completely over the heads of most people to be able to parse out what they need for their personal situation.

I feel like the answer should be whenever you hit a new milestone in your financial life. Almost like a financial "check-in".

The first opportunity being when you're ready to invest outside of a 401k, then possibly when you have kids and need to save for their college, again when you want to start looking at different inventment opportunities and then retirement planning.

[garysimpson]

I made sense for me when my taxes became too complicated and when the consequence of making an investment mistake exceeded the cost of having an advisor. Personally, I think that is in the area of $1 million USD.

[miriamstrauss]

*”If you really look closely, most overnight successes took a long time."*
-- Steve Jobs

[andyk]

Of all the consistent messages Brian and Bo have said over the years, this is the one I most disagree with (and I agree with almost everything else). The key to financial success is getting the behaviors right. Most people get the behaviors all wrong and so building trust in an advisor and being coached from the earlier stages is crucial. Having an advisor that stops a client pulling out of a bear market and encouraging the savings rate with gradual and continual education is where the key lies... so in short, I think your advice on timing is way too late. Most people have lost the race before they make it to the point that you seem to advise seeking advice and hence much earlier is the answer in my view.

[EMo-rxpm]

When you are young, you at least need to have some people with wisdom about money and get advice from.