What we Learned from our Financial Advisor | 4 big takeaways from meeting with a financial planner

[@caterinaramirez8864]

Make sure to do your own research too, financial advisors have goals they must reach and products they must sell so their advice is not automatically the best option for your needs.

[@SJ2236]

Good video- first time you came up in my algorithm. 1. For your photography business, you could open either a SEP-IRA or solo 401k. 2. If you wanted, you could roll over a previous 401k with a former employer to an IRA. 3. Great points on credit cards- it requires discipline but if you use them correctly they can give you needed or extra benefits. 4. Good point on standard of living- having a budget and knowing what lifestyle they want is obviously crucial for a successful retirement.

[@anthonyjames4319]

The rule is contribute enough to get your employer match AND max out a Roth IRA. If your advisor told you only contribute the match amount fire him.

[@brianhale4017]

Suggesting that it's even... remotely ok... to be saving 3% for retirement... Terrible advice. Even with a 3% match, you'll likely not have enough for retirement. Saving 10-15% for the future is now considered the norm for "minimum contributions needed". If you want to retire early, and don't have a pension coming your way, you'll likely need to save even more than that.

[@FIRE_DrNinjaTurtle]

I just did a video on this same topic that came out yesterday. I tried three financial advisors and I was not a good fit for them.

[@MyAnimeDomination]

if you have money that is, cost of living is making people unable to even live average/below average lives, if you are able to then definitely