Reply to Do you have a financial advisor?

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[quote=Anonymous]We used to and found no benefit to it. I can't speak for everyone, but the returns were far too close to what we were getting just by parking money into a Vanguard investment account.

There are basic financial principles that you can figure out by reading some blogs. It wasn't worth giving 1% to an advisor who is doing essentially what we are able to do ourselves (and no, it isn't time consuming once you have the accounts all set up). For us those are:

-Maximize all pre-tax accounts (401K, 403B, and SEP IRA for us)
-Set amount into kids' 529s per month
-Keep about 50K in cash in an emergency fund
-Put anything over that amount into our Vanguard investment account

We also own an investment real estate property that we use a few times a year and otherwise rent out when we are not there. We pay an extra $500 a month to that property and to our primary residence mortgage.

I think if you have a NW over 10M or are really not well versed in finances at all, then FA can be a good resource. But most of the folks educated enough to read this board could self manage. [/quote]

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