Hold the line!!!!

So true. When I was younger I had a "money guy" who talked me into managed brokerage acct. Well after several years he made me about 300$ on 30K , what a waste of money. I took my money back and opened up a Vanguard, put a couple kids through college.

Because things change when you reach the high earner tax brackets and the numbers in your accounts get bigger. When your personal and company provided contributions far exceed the max allowable limits, when you are earning $200-300K, and when your accounts have several million dollars in them, investing advice and tax considerations becomes something to seriously consider. Many also consider the expense of paying someone to study and manage the money worth it so that they don’t have to.

True. I pay far more in union dues than I pay my financial planner. Both provide equal insurance on my livelihood.

Yes. And I'm not a boomer.

If you file a 1040EZ, you probably don't need to bother, just max out the 401k and keep updating your apps.

Also yes. I'd rather fly an extra 2-day each year than try to wade through all of that stuff myself. I do enough casual research so I can hopefully tell if the financial guy is blowing smoke.

Also if things go south I don't have to explain to the wife why *I* screwed it all up.

Your financial adviser should not be your broker, and should not be in the broker biz. If you're a hammer, everything naturally looks a lot like a nail.

Pay for an independent CFP. They'll help you with taxes, estate, insurance, etc, etc and it will all be coordinated so you're maximizing all available legal opportunities (loopholes).

You mean gen z doesn't know why a boomer (well, really a gen x) that's in a different stage of life and likely in a different tax bracket would handle finances differently? Noooo... really?

Exactly the way my Financial Investment company does. They provide directions to a major broker that holds my assets. At no time can they pull an Enron.

my guy also can put together a fund that is much less expensive than if I was to go and pick the same funds on my own and copy his portfolio. Which is not your generic set it and forget it and class a shares. Been down that road at the beginning. Whoops!

I will also second the difference between 50-75k and then making 200-300k presents different problems than just going and buying GME NOK And AMC. It’s not a dig at lower income earners. Just the nature of the beast. Unless you just go out and spend it.

That was me for a while. I put 20% away into low cost mutual funds every month without fail when I was starting out. My income and account balances were low, I could never hit the limits, and I could easily manage. Once my income and nest egg grew, I needed help. Between this job and other sources of income that I had developed, it quickly got too complicated.