Financial advisors can provide valuable guidance, but choose carefully – not all advisors have your best interests at heart.
Look for fee-only advisors who are fiduciaries, meaning they’re legally required to act in your best interest.
Avoid advisors who earn commissions from selling financial products – this creates conflicts of interest.
You might not need an advisor when you’re starting out with simple goals and limited assets.
Many people can successfully manage their finances using low-cost index funds and basic planning principles.
If you do work with an advisor, understand what services they provide and how they’re compensated.
Good advisors help you clarify goals, create comprehensive plans, and avoid emotional decision-making.
