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The Swarm Lounge
General Investing and Economics Discussion - No Politics
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<blockquote data-quote="bravejason" data-source="post: 550495" data-attributes="member: 1069"><p>How do you know if your lawyer is any good? How about your mechanic? Your CPA? The guy installing a roof on your house? It’s the same answer for a financial advisor.</p><p></p><p>There has been a ton of emphasis in this thread on if the financial advisor can help you beat the market. That is one point of view and it seems to be the overriding concern for most of the posters here. If that is the goal, I’d say eschew the advisor and buy what you think is best. Some of you are interested in trading, which is different than investing, and trading may be on too short of a timeframe for an advisor to be useful or cost effective.</p><p></p><p>For me, the advisor helps with other factors such as understanding how much risk is appropriate, am I the right types of investments, am I in track to retire when I want to, etc. Yes, I could try to do this on my own and some of you probably do so, but I like having an experienced hand at the wheel since I want to minimize the risk of having to remain employed when I’d rather be retired (I know people who are forced to work full time even though they are well past retirement age because they didn’t properly manage retirement planning).</p></blockquote><p></p>
[QUOTE="bravejason, post: 550495, member: 1069"] How do you know if your lawyer is any good? How about your mechanic? Your CPA? The guy installing a roof on your house? It’s the same answer for a financial advisor. There has been a ton of emphasis in this thread on if the financial advisor can help you beat the market. That is one point of view and it seems to be the overriding concern for most of the posters here. If that is the goal, I’d say eschew the advisor and buy what you think is best. Some of you are interested in trading, which is different than investing, and trading may be on too short of a timeframe for an advisor to be useful or cost effective. For me, the advisor helps with other factors such as understanding how much risk is appropriate, am I the right types of investments, am I in track to retire when I want to, etc. Yes, I could try to do this on my own and some of you probably do so, but I like having an experienced hand at the wheel since I want to minimize the risk of having to remain employed when I’d rather be retired (I know people who are forced to work full time even though they are well past retirement age because they didn’t properly manage retirement planning). [/QUOTE]
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General Investing and Economics Discussion - No Politics
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