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SCARED MONEY DONT MAKE MONEY. BUY NOK 🚀🚀🚀🚀🚀
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Rising Star
Use family, friends, coworkers, Reddit, fishbowl (lol), and personal research for $15k. Not worth paying any fees for that amount.
I didn’t get a financial advisor until I had $1m in assets and it’s mainly for retirement planning and wealth preservation.
Director 1 - in the same situation. Can you share how you vetted fee only advisors? I need wealth protection and tax strategies, as well as a health check if I’m in the right mix of investments.
What do you hope to get out of one?
For someone to manage $15k, I think you’ll have a hard time finding anyone of value. You can 100% do it yourself.
Put it into a vanguard target fund and forget about it. I doubt any advisor would get you better returns especially after fees.
Vanguard Target Fund has a fee (expense ratio) of 0.15%
The $50k minimum and I’m assuming the .37% fee is for their Voyager Services, their personal advisor services. Not just holding their target retirement fund.
Would circle back and again as the need for this? Their target funds are everything you need. It’s their version of a lazy portfolio, that comes at slightly higher fees than if you did it yourself.
Use financial advisors for preserving wealth. $15k in etfs is all you need
Do you need one? Save your money. Build a simple lazy portfolio, or even just 100% S&P 500.
I don’t know your situation and don’t want to assume, but most people don’t need a financial advisor.
Also, anyone who guarantees they can more than triple your investment in 6 months is skidding in to Madoff territory. Please, please do a bit of research before starting down this road.
I am in a similar positions. Can you recommend stocks/ETFs? I already have $5K in VTI
You can find a financial advisor/counselor on a fee basis - budgeting, targets/goals, challenges, LT financial needs, major financial decisions (purchasing a house, funding an addition/renovation) is probably a good place to start. They can help you develop an overall financial plan. Here’s a good resource - https://clark.com/personal-finance-credit/investing-retirement/fee-only-financial-planner/
Anyone being dismissive here is very out of touch $15K is more than most Americans have saved and a great place to start.
I don’t think anyone is being dismissive. $15k is a lot of money, but I’d wager any amount of money that talking to an advisor, the plan will be something along the lines of:
1) emergency savings
1a) pay down debt
2) 401k / retirement
3) 3 to 6 months full expenses
4) maximize tax free accounts
5) taxable accounts
6) other investments (property for example)
If you’re at 5, and it’s < $50k, it’ll be generic funds based on risk.
Why pay someone for that?
Pro
This made me laugh
Thanks a lot everyone for your inputs. Definitely leaves me with a lot of research pointers!
Pro
Put into voo , u don’t need financial advisor until you got a million