Comments on: Financial Advisor: Who Needs One? https://clippingchains.com/2019/09/23/financial-advisor-who-needs-one/ Funding the Adventurous Life Tue, 24 Sep 2019 00:51:14 +0000 hourly 1 https://wordpress.org/?v=6.9.4 By: Mr. Clipping Chains https://clippingchains.com/2019/09/23/financial-advisor-who-needs-one/#comment-1231 Tue, 24 Sep 2019 00:51:14 +0000 https://clippingchains.com/?p=2882#comment-1231 In reply to Mark.

Excellent point, thanks Mark. Taxes are yet another reason for a set-it-and-forget-it investment strategy. At least until — as you pointed out — you are withdrawing in a much lower tax bracket (i.e. you are retired or make a very modest income).

]]> By: Mark https://clippingchains.com/2019/09/23/financial-advisor-who-needs-one/#comment-1228 Mon, 23 Sep 2019 21:36:49 +0000 https://clippingchains.com/?p=2882#comment-1228 Another “cost” of financial advisors to consider is Capital Gains Taxes. A smart investment strategy works to minimize taxes paid on investment gains. Many Financial Advisors do not consider the tax implications of their endless fiddling with “your” portfolio, and this can lead to huge tax bills that could have been avoided by holding investments until your Taxable Income is vastly reduced (like it will be in retirement).

TLDR: We had a Financial Advisor for a while, and it was the biggest financial mistake of our lives—it cost us tens of thousands of dollars over a ~5 year period.

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