Let's assume the person graduated college at 22 and got a corporate america job right away. 401k exists. But assets are still pretty low.
2006-09-25 12:03:02 · 10 answers · asked by Princess 1 in Business & Finance ➔ Personal Finance
Start as soon as you can afford one.
A good financial planner will not only advice you on how to put your money into best use (whether for investment, buying real assets etc), he/she could also advice you on how to save on tax.
If possible try looking for fee only advisor. This type of advisors are less bias. They will not try to direct you to invest in funds that they will receive kick backs from financial institutions. Try avoiding American Express, Prudential and other big names. Financial advisors from these firms have incentive to get people to buy their company products (funds, life insurance etc), so you wouldn't get the best unbias advice.
2006-09-25 12:10:33 · answer #1 · answered by JQT 6 · 0⤊ 0⤋
We started our son out at the age of 13. (one time visit to get him on track and he takes of his own now)
Lets assume this person you mentioned is YOU.....Time for you to jump in ! Just because you don't have many assets doesn't mean you don't need a planner... (though you should be your own planner after you feel comfortable)
A planner can help you build that asset column and put a plan into play. It doesn't mean you have spend thousands on this planner but simply have him/her get you going, milk all the info you can from him/her and then take care of your own stuff!
The more you plan, save & invest today will ensure an even more wonderful tomorrow !
2006-09-25 21:29:38 · answer #2 · answered by Kitty 6 · 0⤊ 0⤋
It depends on what kinds of assets the professional has and what the goals are.
We're doing quite well for ourselves (me and THE BOSS) without a FP. I retired 8 years ago when I was just short of my 53rd birthday, and I never made more than 55K in my life. She's still working, because she likes her job.
We stuck mainly to conservative investments, with an occational dip into the more speculative elements of the stock market.
Our net worth is around $2 Million.
2006-09-25 19:16:26 · answer #3 · answered by SPLATT 7 · 0⤊ 0⤋
It's time to see a financial planner once you own a home, have assets, or savings in the bank.
2006-09-25 19:05:15 · answer #4 · answered by pknutson_sws 5 · 0⤊ 1⤋
Start now. Best time to start saving is when before the family and other expenses start adding up. See a money person now!
2006-09-25 19:05:17 · answer #5 · answered by just browsin 6 · 0⤊ 0⤋
It wouldn't hurt to ask. See who the bank can provide
2006-09-25 19:05:00 · answer #6 · answered by Anonymous · 0⤊ 0⤋
Whenever one can afford the fees they charge.
2006-09-25 19:05:32 · answer #7 · answered by Jim R 5 · 0⤊ 0⤋
the earlier the better
2006-09-25 19:03:56 · answer #8 · answered by mArQuiTa ChiKa 3 · 1⤊ 0⤋
Today.
2006-09-25 21:49:33 · answer #9 · answered by Fermat 4 · 0⤊ 0⤋
The earlier the easier!!!!!!!! Do it now..
2006-09-25 19:11:08 · answer #10 · answered by Anonymous · 0⤊ 0⤋