First timer to Financial Planning, what should I ask my advisor? what retirments plans are better? Help!?!?
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Answer:
Risk, Cost, & Past Performance...
These are the 3 main categories to focus on with the advisor. Not all advisors are created equal. Don't assume that if an advisor has been working for 30 years, that he has the best advice. I definitly recommend using an expert (advisor) to recommend an investment plan.
Stay away from any and all insurance related products. Those pay the advisor a lot more money and are typically more beneficial for retired people rather than young investors.
Find out how much you are paying the advisor (over the next 5 years). An appropriate amount is .75% or 1% per year. Feel free to email me if you want to know if the advisor advice is any good.
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