Decorating & Renovating
Dear Community,
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Anyone a financial planner or have a financial planner?
This is probably really dumb, but what exactly do they do? What do they help you with? Do they charge a fee? If you have one, is it worth it?
Please educate me on this topic. Thanks.
Re: Anyone a financial planner or have a financial planner?
There are financial planners and financial advisors.
A financial planner, I dont know much about, but they will typically work with you on budgets and debt consolidations, and savings. I dont know about how their fees work, but yes, Im sure they do charge a fee.
As for a financial advisor, typically they work with you on investments and saving for the future / retirement. They charge a fee, but it is usually tied to whatever "product" they are recommending you do. I am a banker and all too often find people are mislead by their financial planner because of a particular commission they get. So it would be worthwhile to get a second opinion.
We do our own, but I'm pretty savvy and H works in finance. We also have a lot of friends who work as financial advisers.
Some are flat fee and some take a certain commission every time something is changed. IMO, flat fee is the way to go because then they aren't moving your money around just to make a profit. They can handle all sorts of things - retirement, stocks, insurance, alternative investments.
Personally, I advocate educating yourself about financial management and doing it independently. Most financial advisers are relationship people - they call you to sell you a product - and don't necessarily have skills or insight that are any greater than what you could get on your own. Also, one way or the other they're getting their cut of your money.
I am a CPA, so qualified to give financial advice, but not sell securities.
We do have an advisor who looks after our investments, though. I just don't have the time or patience. We pay him a flat monthly fee, I think it works out to a thousand bucks per year. We typically know what/when we want to purchase though, but we do ask his advice. He also runs these different scenario reports for us and reminds us to do things like update our beneficiaries when we had a baby (can't believe we forgot that!). We've also had him research life insurance stuff, too.