I just had a meeting with a flat-fee advisor. I love the idea of it as there’s less possibility of conflict of interest but I don’t believe my net worth is high enough that it’s worth it.
Biggest focus is saving for the down payment on a mortgage. My bills are fairly simple and I have a better than average understanding of finances.
Am I better off purchasing life insurance and other products on my own versus having 1 person overseeing the whole portfolio? I don’t have a full understanding of the true cost of having someone other than a flat rate model. And even then, aren’t they still taking additional fees on trades?
Between my wife and I, our retirement savings is under $100K and our assets and cash is around $20K. Just had a baby, hoping to get a mortgage in about a years time. Until then, I’m basically torn between hoarding all available cash for that goal versus handing it over to a professional for peace of mind. I know with a certain net worth the growth will pay for the cost of it being managed. What’s the break-even point!?
Submitted June 23, 2020 at 09:02PM by tizzle993 https://ift.tt/2Z09IXG
