Quite inevitably, hiring a financial advisor in Los Angeles is pricey. Money, on one hand, is never sufficient. On the other hand, there must be a borderline (I'm talking about your income level) beyond which you'd need some proper financial planning!
Which level of net income calls for professional planning for investing your funds and saving big for a stress-less future? The relevance of this question goes out to all and sundry – whether you’ve just begun to earn or you’re in your mid-30s or early 40s.
When to see my Los Angeles financial advisor?
Since everything comes with a price, even a piece of financial advice does, you should only go for it when it’s worth it. Financial advisors from different corners have a different take on the subject. As a thumb rule, or you might call it the unsaid law, you cannot or “need not” afford an advisor unless your invest-able assets are worth $100,000.
Well, as many as a handful of financial advisors (whom I went out and spoke to) have this asset threshold (of $100k). It all depends upon your Los Angeles Financial Advisor – he/she could have a requirement of $100k, $500k, or even $1million!
What does your Los Angeles financial advisor do?
Most of you out there remain under the pretext that the “very rich” people go for financial advisors only. Well, how do you define what is very rich in the very first place? Personally speaking, determining as to who exactly is “very rich” is something too subjective. Hiring a certified financial planner takes a lot more into its list of primary concerns:
Is your financial life that complex?
Are you finding it difficult to save enough for the future?
Aren’t you able to find enough time and expertise to manage your funds?
Can you eliminate “emotions” from the task (which is very essential) and invest “wisely” as and where required?
To cut it short, it all depends upon your asset volume – the larger it is, the more complex will be the planning. Heard of Robo-advisors? These days, even they provide clients with the advisory service for some low fees.
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