As some have touched there are different types of advisors. Financial advisors (more big picture), Investment advisors (help steer your investment choices), Estate planning (wills, trusts, insurance, etc).
If one is looking for investment advice I think there are many good resources online about investing in low cost broad based indexes, as people here have already mentioned. I do not think it is worth spending some % of assets annually to get help picking out a broad based index fund(s). Though it could be worthwhile to pay for advice on setting something up (a one time fee) if one was not comfortable or had questions about achieving their life plan.
A couple of recent articles about retiree portfolios on morningstar (not meant as specific recommendations, just to give some flavor):
https://www.morningstar.com/articles/920390/3-retirement-bucket-portfolios-for-minimalists.html
https://www.morningstar.com/articles/922631/3-taxefficient-bucket-portfolios-for-minimalist-re.html
In my city there must be 4 or 5 financial shows on the various talk radio stations on the weekend. Most of these shows target people nearing or entering retirement, where they are looking for clients that need 401K investment oversight and/or look to sell an annuity to cover basic retirement expenses. While an annuity might be okay in some circumstances I would recommend avoiding any steak dinners or hard sale of financial services.
In that same vein, I more often listen to the Greg Hicks radio show, and caught part of the one about choosing a financial advisor some weeks ago. It was not their best show but I generally like their advice better than the others. Note their show (like the others) is essentially a long infomercial for you to come see them, but I find that they provide some good basic information over time. If one is unfamiliar with choosing an advisor they may find the "Bad Advice" and "Choosing a Financial Advisor" podcast episodes helpful.
https://1061fmtalk.iheart.com/content/greg-hicks-podcast/
If one is looking for investment advice I think there are many good resources online about investing in low cost broad based indexes, as people here have already mentioned. I do not think it is worth spending some % of assets annually to get help picking out a broad based index fund(s). Though it could be worthwhile to pay for advice on setting something up (a one time fee) if one was not comfortable or had questions about achieving their life plan.
A couple of recent articles about retiree portfolios on morningstar (not meant as specific recommendations, just to give some flavor):
https://www.morningstar.com/articles/920390/3-retirement-bucket-portfolios-for-minimalists.html
https://www.morningstar.com/articles/922631/3-taxefficient-bucket-portfolios-for-minimalist-re.html
In my city there must be 4 or 5 financial shows on the various talk radio stations on the weekend. Most of these shows target people nearing or entering retirement, where they are looking for clients that need 401K investment oversight and/or look to sell an annuity to cover basic retirement expenses. While an annuity might be okay in some circumstances I would recommend avoiding any steak dinners or hard sale of financial services.
In that same vein, I more often listen to the Greg Hicks radio show, and caught part of the one about choosing a financial advisor some weeks ago. It was not their best show but I generally like their advice better than the others. Note their show (like the others) is essentially a long infomercial for you to come see them, but I find that they provide some good basic information over time. If one is unfamiliar with choosing an advisor they may find the "Bad Advice" and "Choosing a Financial Advisor" podcast episodes helpful.
https://1061fmtalk.iheart.com/content/greg-hicks-podcast/
Last edited:
