Financial Advisor: worth it or not?

[theNawfKing]

Pretty straightforward question.

Getting married in 2026 and trying to get finances in order for us to put things together.
I have a financial advisor currently that I have some IRA/Brokerage accounts that I got from inheritance. Planning on using this for a down payment on a house for us so will be mostly wiped out soon.
Hasn't really done anything too crazy other than go up and down with the market.

Have been adding to the brokerage account monthly. Along w/ 401k, Roth IRA, High yield Savings emergency fund.

Just wondering if it will be worth it to keep adding to an account with a financial advisor or just invest in a total market fund or S&P 500 fund?

Any insight/experience would be appreciated.

 

[FLaw47]

I don't think you need one. Just throw everything into VT and call it a day.

 

[baltimorened]

my opinion for what it's worth - free.
I assume you're young and just starting out. Go to the library and take out some books on personal finances and investing.

Depending on your assets, you probably would be better off just buying an index fund, like spy, and dollar cost average your investments.

Later when you get back to few $$hundred thousands you can look for advisor.

I'd bet there is some financial advisor on here who who could give better advice

 

[fatpiggy]

Pretty straightforward question.

Getting married in 2026 and trying to get finances in order for us to put things together.
I have a financial advisor currently that I have some IRA/Brokerage accounts that I got from inheritance. Planning on using this for a down payment on a house for us so will be mostly wiped out soon.
Hasn't really done anything too crazy other than go up and down with the market.

Have been adding to the brokerage account monthly. Along w/ 401k, Roth IRA, High yield Savings emergency fund.

Just wondering if it will be worth it to keep adding to an account with a financial advisor or just invest in a total market fund or S&P 500 fund?

Any insight/experience would be appreciated.

I always tell people it’s about your time horizon. If your time horizon is 7+ years, then just buy SPX or qqqq and set it and forget it.

My personal opinion is that advisors are worth their cost when you deal with larger sums of money (10mm+) or special circumstances.

$.02

 

[PalmettoTiger1]

Pretty straightforward question.

Getting married in 2026 and trying to get finances in order for us to put things together.
I have a financial advisor currently that I have some IRA/Brokerage accounts that I got from inheritance. Planning on using this for a down payment on a house for us so will be mostly wiped out soon.
Hasn't really done anything too crazy other than go up and down with the market.

Have been adding to the brokerage account monthly. Along w/ 401k, Roth IRA, High yield Savings emergency fund.

Just wondering if it will be worth it to keep adding to an account with a financial advisor or just invest in a total market fund or S&P 500 fund?

Any insight/experience

I always tell people it’s about your time horizon. If your time horizon is 7+ years, then just buy SPX or qqqq and set it and forget it.

My personal opinion is that advisors are worth their cost when you deal with larger sums of money (10mm+) or special circumstances.

$.02

As silly as it sounds I watch Charles Payne and listen to his recs. About twi years ago my wife had a modest amount she wanted invested and she asked me what to buy. I laughed snd said lets ask Charlie as we call him whats hot.

That day FOX and Charlie were hot on the mag 7

So bought her that group.

Yep they busted out with a nice gain now.

A few months ago I was sitting watching Charlie and had some excess cash and said wonder what is a new fresh stock I ought to buy.

They were featuring Quantum Computing stocks which were like $8 at the time.

So I bought a bunch because it was so cheap per share. Now almost doubled in price.

So my research is listening to Fox Business and taking their advice as to my doing my personal investing.

Has worked for me the last 20 to 35 years.LOL

I will say that you are spot on if you have a huge lump of money you need a manager like Merrill Lynch or similar.

 

[southerncaltiger]

Pretty straightforward question.

Getting married in 2026 and trying to get finances in order for us to put things together.
I have a financial advisor currently that I have some IRA/Brokerage accounts that I got from inheritance. Planning on using this for a down payment on a house for us so will be mostly wiped out soon.
Hasn't really done anything too crazy other than go up and down with the market.

Have been adding to the brokerage account monthly. Along w/ 401k, Roth IRA, High yield Savings emergency fund.

Just wondering if it will be worth it to keep adding to an account with a financial advisor or just invest in a total market fund or S&P 500 fund?

Any insight/experience would be appreciated.

Congrats to you! Sounds like you’re well on your way already. That’s impressive.

The short answer is Yes, they are worth it when you’ve reached the limit of your financial knowledge & planning abilities (or you no longer have the time/desire to do it).

I tapped out at 41 when I reached my limits; we’ve had the same financial planner for 20+ years. We retired last year at 60/54 as legit VHNWI.
We didn’t flip houses, own our own businesses or strike gold here in Placer County…just smart investing and living below our means. Took nice vacations, fully funded 529 for son, and there’s a Benz & Porsche in the garage of this $1.3M house, so we didn’t use the Dave Ramsey “rice & beans” method, either. You have to enjoy the journey…had a FIL, BIL, and some close friends who worked their asses off for comfortable retirements they never got to enjoy because of heath issues. Remember to take care of yourself on the journey, otherwise you’ll potentially spend a lot of your savings on medical costs.

 

[firegiver]

Roth IRA or 401k mutual funds. If you are young, the power of compounding interest will save you.
Side note, I was going through finances yesterday and discovered my wife's pension... I may get to retire early. I never planned on her having anything.

 

[southerncaltiger]

Roth IRA or 401k mutual funds. If you are young, the power of compounding interest will save you.
Side note, I was going through finances yesterday and discovered my wife's pension... I may get to retire early. I never planned on her having anything.

Medical coverage is what helped us. I have 85% for life…I was so naive…assumed that “most” large corporations provided SOME healthcare coverage for early retirees. Nope, nope. Couldn’t have been more wrong.

Wife had 30 years with the same employer; ironically, a risk & insurance firm. SVP level. Got a goodbye gift certificate. Zero med options for retirees.

 

[firegiver]

Medical coverage is what helped us. I have 85% for life…I was so naive…assumed that “most” large corporations provided SOME healthcare coverage for early retirees. Nope, nope. Couldn’t have been more wrong.

Wife had 30 years with the same employer; ironically, a risk & insurance firm. SVP level. Got a goodbye gift certificate. Zero med options for retirees.

Thats the thing that anyone retiring before 65 has to figure out. Any insights from anyone here would be great.

 

[ANEW]

Thats the thing that anyone retiring before 65 has to figure out. Any insights from anyone here would be great.

Join the Army, stay for 20yrs and this problem is resolved. Probably not the insight you're looking for, though.

 

[southerncaltiger]

Thats the thing that anyone retiring before 65 has to figure out. Any insights from anyone here would be great.

Agree. It probably doesn’t matter nearly as much when you’re young. I know that salary, not benefits, is what drove me in my 20’s & 30’s. As I went past 40 I began to look closer at “Total Compensation”.

I remember a close professional friend who had a similar position to mine at AT&T out here. Hewitt benefits provided the same Total Compensation statement for both of us—I mean exactly the same format. When we compared, I was very surprised by how different the two utilities (him in Telecom; me at Southern Cal Edison) funded their Total Compensation statements. Mine was about $50k more even though salaries were close. Medical coverage (including retiree) and 401k matching were the biggest difference.

 

[baltimorened]

Join the Army, stay for 20yrs and this problem is resolved. Probably not the insight you're looking for, though.

Join the Army, stay for 20yrs and this problem is resolved. Probably not the insight you're looking for, though.

worked for me. Then over 65 get Tricare for life

 

[ANEW]

worked for me. Then over 65 get Tricare for life

Yup. Nice to have that base covered.