Navigating Financial Mileposts

15min Snip

00:00

Play full episode

Summary

Transcript

Episode notes

This chapter delves into the intricacies of personal finance management, highlighting key topics such as emergency funds, insurance, and the benefits of professional financial advising. The discussion emphasizes the varying levels of financial knowledge among individuals and how tailored advisory services can greatly impact one's financial stability and planning. Through personal experiences, the speakers illustrate the importance of seeking guidance to navigate the complexities of financial planning, especially for those nearing retirement or just starting their wealth-building journey.

Here's what we learned by hiring a financial advisor for a fixed fee of $1,000. Rather than pay a costly ongoing assets under management (AUM) fee, we wanted to test out this increasingly popular fee-for-service advisement model. Eric and Jason discuss each hired the same fee-only, advice-only advisor for $1,000 to evaluate their portfolios and answer a variety of key questions. They share how they found this advisor, what the process was like, the specific questions + answers they had, and who they think could benefit from such a service. Is this the right option for you? Maybe.

Show notes: https://twosidesoffi.com/1Kadvisor