Spent $400 on a financial advisor and it was the WORST mistake. Everyone says you need one but mine just gave me generic advice I could find online.

3 comments

3 Comments

A flat fee advisor might work better for you. Mine charges by the hour to review my actual budget and debts, not just give a standard plan. It cost less than half what you paid and felt tailored to my situation.

pat_fisher241d ago

Yeah, that's the big problem with a lot of them. They just run your numbers through a basic software and hand you a cookie-cutter plan. You're basically paying for someone to Google "retirement savings" for you. You really need someone who digs into your specific debts, goals, and risk comfort, not just spits out general rules.

phoenix_grant341d ago

Totally agree about the cookie-cutter plan thing. I read an article that called a lot of advisors "glorified spreadsheet fillers" and it stuck with me. They just plug your age and salary into a template. You're right, the good ones are supposed to ask about your actual life, like if you want to buy a house or help your family. Otherwise you're just paying for a printout of common sense.