Reasons to Work with a Financial Advisor by Decade

Here’s a quick list I created that gives common questions that lead people to work with a financial advisor by each decade of life:

20s – How should I invest my 401k? How much should I be saving for retirement? Which loans should I pay down first?

30s – How much house can I afford? How much should I save for my child’s college? Which 529 plan is best? Do I need life insurance? Am I on track for my retirement goals? Should I be making Roth or Traditional 401k contributions?

40s – Would it be a horrible financial decision to switch careers? How much company stock should I keep in my portfolio? Should I invest in real estate?

50s – When should I start to tone down my portfolio risk for retirement? What will retirement look like for me? How do I know how much I can spend from my portfolio in retirement? Who can help reinforce good investment habits for my children? Do I still need life insurance?

60s – How do I start taking more from my retirement accounts? Which account should I take from first? When should I take Social Security? Who should I talk to about Medicare?

70s, 80s, and 90s – Do I have enough to be comfortable? Who will be watching these investments when I start to see cognitive decline? Who can help make sure I’m on a good track? How can I simplify my financial life? What’s the best way to give money to my kids or charity?

Legal Disclaimer: These posts do not constitute an offer or recommendation to buy or sell any securities or instruments or to participate in any particular investment or trading strategy. They are for informational purposes only. CTW gathers its data from sources it considers reliable. However, CTW makes no express or implied warranties regarding the accuracy of this information or any opinions expressed by the author and may update or change them without prior notification.

By  | October 29th, 2019 | Wealth Management

About the Author:

John has more than ten years experience as an Investment Advisor. He focuses on devising and maintaining portfolios that meet individuals’ needs, investment research, and investment strategy. John has been recognized as a “FIVE STAR wealth manager” by Twin Cities Business Magazine 2016-2020.