Do you need a financial advisor and what do they do? It’s one of the most important questions to your financial life and I’ll explain everything you need to know about financial advisors. I’ll also reveal how much advisors cost and how to do it yourself!
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Financial advisors and planners do more than you might think. They start by listening to your financial goals and helping you decide how much you need to meet those goals.
For this, they can charge fees that range well into the thousands of dollars. There are two ways financial advisors make money. Some will charge a flat-fee which usually ranges from $2,000 to $7,500 a year or on a per hour basis. Others might charge a commission on the amount of money they manage for you. This is usually around a 1% annual fee but they might not accept you as a client unless you have at least $250,000 for them to manage.
0:00 Do I Need a Financial Advisor?
2:06 What Does a Financial Advisor Do?
3:30 How Much Does an Advisor Cost?
4:50 How to Be Your Own Financial Advisor
7:13 When Should You Hire a Financial Planner?
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Joseph Hogue, CFA spent nearly a decade as an investment analyst for institutional firms and banks. He now helps people understand their financial lives through debt payoff strategies, investing and ways to save more money. He has appeared on Bloomberg and on sites like CNBC and Morningstar. He holds the Chartered Financial Analyst (CFA) designation and is a veteran of the Marine Corps.
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Have you worked with a financial advisor? Was it worth it? Share your experience below.
I want financial help to build my future thank you
I made 80 percent in 3 months my first time investing and i wouldn't say i'm very smart lol, so i deff dont think its necessary
hey joe … thanks for your work … this helps
A three-fund portfolio is a portfolio which uses only basic asset classes — usually a domestic stock "total market" index fund, an international stock "total market" index fund and a bond "total market" index fund. You can put more in the bond as you age. Then perhaps some smaller amounts in individual stocks with growth potential Apple etc. Study’s have showed people who never touch their investments make the most some have died lol and the investments weren’t touched lol
Advicer really deserve the money of course the one you trust
Sorry but you seem to have too much paid promotion video in your channel now. Very sad
It is becoming untrustworthy
Be clean
Can you be more than my financial advisor? 😍😍😍
dumb question: I can't find your video, where i first left a comment, about me studying for CFA.
by the way , i guess i'm a genius I made a portfolio and made money immediately creating a portfolio, from your info.
I have always managed my own portfolio. I don’t have experience with money managers but I have read enough about people losing their money because an advisor madoff with all their money.
Hey Joseph, where the best place to find sales forecast data for small caps? I want to calculate future stock values by comparing market cap to earnings. Do you have a video that shows how to calculate a future share price using earnings to p/e ratios?
Skip to 2 minutes
Lmao moca-coca-chino
Dont worry about deductibles, worry about max-out-of-pocket. When it comes to insurance
First 5 minutes is wasting of time, guys go to minute 5
I have read/ listen/ watch things about personal finance for years and developed my ideas from my studies. I have an account with an advisor. I like the idea of being able to ask ? & get a different opinion about something. Since advisors see many different scenarios through their clients. He can see a blind spot I my have.
My worry is during the year tax payments and year end taxes. Any videos on that?
I don't know who needs to hear this, you've got to stop saving money, invest some part of it if you want to financial freedom
Joseph, you are my beloved teacher. Been following you almost a year now. And what an brilliant. Investor you are in penny stocks with moonshot opportunities. Please continue your good work.
Second your are a master in communication. I just enjoy you speaking especially check that out sentences 🙂
Stay away from stock brokers. They are instructed to sell off the dog stocks their brokerage took public. Looking at you Merrill Lynch and many others.
These are really great suggestions! and this is such an important topic to be discussing, I really enjoyed the video!
Tim Draper – "$250,000 Bitcoin 2022 year end".
The only reason I can think of for hiring an advisor is tax planning because it's annoying.
STASH fckin sucks!! I switched to Schwab. Do urself a favor! To bad he needs to earn revenue through advertising dollars
Great job. Thanks.. fellow VET
I think someone has cloned/copied your channel. Be careful folks.
I think it depends on your finance, say you won either the powerball or mega millions lotto jackpot than and financial advisor is a definite need since they are used to dealing with people who have a lot of money. Other than that it's just basic bookkeeping and balancing your checkbook.
I don’t. I don’t think they have my best interests in mine. I will say I do love your channel and have bought some stocks based on your recommendations after I did my own due diligence on them. No one takes care of you better then yourself. Love the videos!
I have been doing well enough trading options that friends (non-accredited) are asking me to manage an account for them. On the surface that looks illegal but it's very hard to find detailed information on it. It seems like there should be a way without jumping all the hoops involved in a series 65 and all the other expenses and regs that come with that. I'm wondering, what if I started a C-Corp that only does investments including securities and potentially real estate then manages for others via selling shares. A video on this topic would be great. 99% of Google results assume I want tax advice or plan on starting with 25+ million under management. I have no problem ultimately going down the series 65 road but it's a lot to go through to start off with a few thousand $ under management.
Thanks for any insights
Thank you for sharing all your knowledge really appreciate what you doing. Just wondering if you be able to educate us how to read the chart. Thank you again
I LOVE Stash. Guilty pleasure. Definitely an investment app. Great tips!
Market is crazy high.If there is a correction, it will happen in June when economy opens,inflation happens,no more stimulus,interest rates will rise
That’s my guess
Meant baffons *
You need to have your own TV shows.They need to kick out baffles on CN…..
$GTEH is a good new sub penny stock I found . Real products, real financials .
5:54 Well I've just discovered my adult film star name.
Yes. For the love of -, Be Your Own Advisor.
They will lie to your face, sell your on companies that they will gain commissions on vs what is best for YOUR financial needs and goals, and destroy your portfolio, then try to tell you it's your fault.
Meanwhile, the side portfolio you find on your own without them knowing is basically supporting you thru a damn planet-wide pandemic.
Educate yourself.
Yes. You absolutely can do it yourself. No one will look out for you EXCEPT YOU!
Joseph is like the DIY financial advisor😂
I like to come back to your channel to feel sane again.