Investing Time or Advisor Time: The Best Wealth-Building Choice explores how this decision shapes your financial future. Whether you invest your time in mastering the market or hiring an expert guidance advisor, each option comes with its own benefits and trade-offs. Choosing between investing your time or relying on an advisor is a critical decision that directly influences your financial security, retirement comfort, and overall wealth. Time spent learning to invest well offers lifelong returns—far more significant than those from most other activities—but it requires time and effort. If you cannot dedicate the time, using an advisor is an intelligent alternative. This guide offers practical insights, strategies, and answers to common questions, helping you make the right choice for your wealth-building journey.
What you learn:
Deciding how to use time is your most important decision. Using time to learn and invest well pays lifetime returns exceeding what you earn from doing anything else. But investing well does take time to learn, do and manage. Anyone serious about being financially independent, secure and comfortable must commit time to invest. Without a time commitment, you must use an advisor.
Frequently Asked Questions about financial advisors
Should I invest myself or use an advisor?
Invest in yourself; your future is worth it.
A hard fact of financial life is that learning how to judge an advisor's quality takes as long as learning how to invest well. Advisors take a cut of your capital in good or bad markets, significantly impacting net long-term returns.
When the advisor is good, the choice is investing time or money. The answer directly and significantly impacts your immediate financial security, retirement comfort, and future wealth.
No-worry investors follow a simple step-by-step process to develop into knowledgeable long-term investors. By investing in knowledge, they patiently build wealth with lifetime returns exceeding any alternative.
Choose time and effort, or find a reputable advisor for lower returns.
When should I get a financial advisor?
Get a financial advisor when you need help putting money to work.
A fee-only financial planner is a good start for someone new to money management or investing. Such a meeting can be an excellent investment and a turning point in your financial future.
After all, money is lazy, unloyal, and indifferent to you or your needs and wants. But money will do what you make it do, so you need to make it work for you!
The most successful investors are good money managers who take the time and effort to learn how to maximize their returns. However, a qualified financial advisor is an excellent second choice for those needing more knowledge or time to learn how to invest well.
How should I prepare to meet a financial advisor?
Preparing to meet a financial advisor involves detailing your income, expenses, assets, and liabilities.
This to-do list can help,
1. Research your financial advisor choices,
2. Have an accurate 3-month record of earnings and expenses,
3. Have up-to-date statements of your income and balance sheet,
4. Be mentally and emotionally open to change and ready to learn,
5. Research, think through, and update your long-term financial goals,
6. Reflect on how your plans, investments, strategies, and risk management fit your life and lifestyle.
You will get the most value from meeting a financial advisor when you prepare in advance by having your facts, thoughts, and attitudes aligned.
Is it worth having a financial advisor?
Good financial advisors can add significant value, which gives investors a choice between using their time to invest or, at a higher cost, using an adviser's services to build wealth.
Investing on your own offers the best wealth-building opportunity for anyone who can invest well. Learning to do that takes time and effort.
If you don't take the time to learn how to build wealth by investing, the alternative is to pay the higher cost of using an advisor. The top clients achieve higher returns by learning from an advisor who helps them understand markets and investing.
How do I know I have a terrible financial advisor?
Lousy advisor behavior and performance add risk and aggravation to your life and future like these examples of bad behavior:
Calls or emails not returned,
Fail to inform or update clients,
They ignore the client's partner,
Investments always underperform,
They prioritize their interests over clients,
Communication feels dishonest or unclear,
The relationship feels strained or uncomfortable,
They dismiss the need for third-party custodians,
Every contact is to sell something or charge a fee,
They don't resolve client issues or answer questions,
Advice changes when markets and situations change,
They talk down, intimidate, and use confusing financial jargon.
Leave these aggravations and poor performance by changing to a quality advisor to achieve financial prosperity.
When should you talk to a financial advisor?
Talk to a financial advisor when you don't know how to use money to make money. Regular contact with an excellent financial advisor can add to your wealth-building and investing knowledge.
Independent, fee-only financial planners can provide some of the best services for individual investors. Qualified assistance ensures investors develop a solid financial plan as the foundation of their wealth-building.
A financial advisor can also help increase financial literacy, investing, and market knowledge. For anyone willing to invest the time and effort, the payoff can be a lifetime of building financial security, wealth, and retirement comfort.
What questions should I ask a financial advisor?
Ask these Twelve Big Questions For Financial Advisors.
1. Are you a fiduciary?
2. What are your fees?
3. What are your qualifications?
4. How many clients do you have?
5. Do you report results net of fees?
6. How often will we communicate?
7. Will our relationship be long-term?
8. Which services do your fees cover?
9. How much experience do you have?
10. What is your investment philosophy and plan?
11. What commissions or incentives do you receive?
12. Has your firm or anyone in it faced disciplinary or legal action?
Their reaction, explanation, and discussion of each question provide insight into their attitude and character. Should they avoid, not answer, or make you uncomfortable with their response to any question, look for another advisor.
When should I leave my financial advisor?
A financial advisor can help or harm your financial security, retirement comfort, and wealth building. While some financial advisors add value, others earn more from a client's capital than the client. If your advisor and their firm take more than you make in return, fire them!
Investors have two choices to achieve a lifetime wealth building: learn to invest well themselves or seek the assistance and guidance of a reliable advisor. Although learning to invest well pays far more in the long run, it requires time and effort.
Your alternative is finding an honest and able advisor who produces net returns. Still, the costs mean lower net returns. Before entrusting them with your finances, thoroughly research and evaluate any prospective advisor.
See more details, discussion, and FAQs in this lesson.
Is your future worth your time?
This lesson explains the importance of taking time to invest in your future. Learning to invest well and doing what you need to do takes time. Your future security and independence is worth your time. No time? Get an advisor and learn how to be their best client.
Investing time or advisor time?
Investors need to invest some time to understand and manage their investments. This and the following posts in the series help novice investors get comfortable with the amount of time required to invest well. It is a very basic introduction.
When to Talk to a Financial Advisor
Navigating your financial journey can be complex and challenging. At various stages in life, consulting a financial advisor can provide valuable insights and strategies to help you achieve your financial goals. When you need help to make money work for you, seek qualified advice. Here are some key moments when seeking expert advice can make a significant difference.
Starting a Financial Plan
Creating a comprehensive financial plan is the foundation of a secure financial future. Whether you're just beginning your career or looking to set long-term goals, a financial advisor can help you outline a plan tailored to your aspirations and financial situation. Quality qualified fee-only financial planners can add life-changing value.
Major Life Events
Life is about changes, and many of these can profoundly impact your finances. Events such as getting married, getting divorced, having children, or losing a loved one often require adjustments to your financial plan. A financial advisor can guide you through these transitions, ensuring your financial stability during times of change.
Buying a Home
Purchasing a home is one of the most significant investments you will make. A financial advisor can help you understand how this investment fits your financial picture, ensuring you make informed decisions and manage your mortgage effectively.
Investing
Investing is crucial to building wealth, but it can be daunting, especially for beginners. A financial advisor can help you develop a diversified investment strategy that matches your risk tolerance and financial goals, helping you grow your wealth over time.
Retirement Planning
Planning for retirement is essential to ensure you can enjoy your golden years without financial stress. A financial advisor can help you develop a retirement strategy that ensures you have enough savings to support your desired lifestyle, factoring in your expected expenses and income sources.
Tax Planning
Taxes can significantly impact your financial health. Advice from an accountant who services individuals can help you develop tax-efficient strategies to minimize your tax burden and maximize your savings and investments.
Estate Planning
Estate planning involves more than just creating a will. It includes setting up trusts, planning for estate taxes, and ensuring the distribution of your assets according to your wishes. A financial advisor can work with you and your attorney to develop a comprehensive estate plan that protects your legacy.
Debt Management
If you're dealing with significant debt, a financial advisor can help you create a plan to manage and pay down your debt efficiently. They can provide strategies to reduce interest payments and prioritize debt repayment to improve your financial health.
Changes in Income or Wealth
Significant changes in income or wealth, a substantial raise, job loss, a substantial inheritance, or other financial changes require adjustments to your financial plan. A financial advisor can help you navigate these changes, ensuring your financial stability.
Complex Financial Situations
Owning a business, having multiple income streams, or dealing with other complex financial situations can make financial planning more challenging. A financial advisor can provide expert guidance to help you manage your finances effectively and coordinate all aspects of your financial life.
Key Moment Guidance
Consulting a qualified advisor at crucial moments or events can help you make informed decisions, optimize your financial strategies, and ensure you're on the right path to achieving your financial goals. Whether you're just starting or facing a significant life change, a qualified advisor can provide the expertise and support you need to navigate your financial journey confidently.
Investing can be full-time fun
If you are like me, investing is full-time fun. On the other hand, some people think getting their teeth cleaned is more fun than investing will ever be.
Someone with no knowledge or interest should spend little time at it. They should use a financial advisor. They need to carefully select use and listen to a professional financial advisor. In another post we discuss characteristics and qualifications they should look for. When your financial security and independence are important enough you will make the time to learn how to invest well.
Limited or modest returns are a downside an investor with no time or interest has to accept. For some people this is a responsible trade-off. Those who make time for what matters get amply rewarded by learning about investing.
Quality financial professionals deliver returns
A financial professional working in your best interest can set up an appropriate portfolio that offers a solid return. A quality advisor can keep you pointed in the right direction.
You need reasonable expectations. A conservative, well structured and properly managed portfolio in today`s market can protect wealth and deliver a solid return of 4 to 6% or even greater in favorable markets. With professional help, in a few hours a year a client can understand and approve such a conservative portfolio.
It takes some time and effort to grow your dollars by investing well. You can make time for what matters to you.
Quality financial advisors working in the best interests of clients prefer clients that are knowledgeable and financially literate. Naturally they also like them rich! However even holders of modest accounts can benefit from quality financial advice.
Be that most desired client
Become that desired client. Read about and pay attention to economic developments in your community and life. Dig a little deeper to better understand economic events and influences around you. In time with little effort, you will grow.
That simple effort will give you a better and deeper understanding of financial and market matters. That will give you a better grasp of how the economy and markets work.
Take advantage of having an advisor. Ask that each investment and any alternatives offered, be explained so you really understand your choices, cost and alternatives.
Thereafter, recommendations made by your financial advisor will be readily understood. You will better understand both the recommendations, the explanation and how it fits you investment needs. To learn, asking why is most often the very best question.
Advisors cost. For many people, a quality financial advisor, represents a very valuable investment. If you want to pile up better returns, seek faster growth or lower costs, you have many other choices. They all take more time and effort but can produce significantly greater returns.
When you ask the, time to invest or time of an advisor trade off question, you need to carefully consider how important your financial future and security are. Time well invested can definitely change investment outcomes.
Invest myself or use an advisor? Answered!
Every new investor that wants to produce superior results must put time into building their knowledge. Investing well does take time. This lesson explained the importance of time as your first investment in yourself. Learning to invest well and doing what superior investors do, regularly takes time. Your future security and independence is worth that time. But you can’t invest time, get an advisor and become their excellent client.
What you learn:
The choice of investing time or adviser time directly affects your financial security, retirement comfort and wealth. Time taken to invest well pays returns for a lifetime. Those returns are far greater than what you earn spending time doing anything else. Time taken to invest well builds financial security, comfort and wealth. But it does take time to learn and do well. No time to invest? – use an advisor!
Lesson takeaways,
Investing time or advisor time?
The choice of investing time or adviser time directly affects your financial security, retirement comfort and wealth. Time taken to invest well pays returns for a lifetime. Those returns are far greater than what you earn spending time doing anything else. Time taken to invest well builds financial security, comfort and wealth. But it does take time to learn and do well. No time to invest? – use an advisor!
- Take time to invest in your financial security and independence.
- Superior investors begin by investing time in their future.
- Anyone without time to invest must get a financial advisor.
- Investing time can be part-time or full-time.
- When you heir an advisor you must work to be an excellent client.
- 9 FAQ about financial advisors
Other lessons related to:
Investing time or advisor time?
Media exposes advisor incompetence
Pyramid portfolio wealth building
Attached stubborn helpless investor
Comments and questions welcome
Email me at [email protected].
Subscribe free and get White Top Investor lessons in your inbox!
Make money work for you by knowing how investors think, feel and act. Learn here The Investor Mind.
White Top Investor lessons, website layout and organization: click here.
Make money work for you
Use White Top Investor lessons to learn investing. By doing that you can grow into a knowledgeable, comfortable and confident investor. To learn how, you can learn investing one small step at a time at your own pace. Do that and become the master of your financial security and independence. White top Investor never sells or shares our email list. Learn more.
Choices to make money work,
lesson links:
Overview of investment choices Lesson 290.01
Key investing success choices Lesson 290.02
Join exceptional wealth builders Lesson 290.03
Investing time or adviser time? Lesson 290.04
Media exposes advisor incompetence Lesson 290.05
Small investors have advantages Lesson 290.06
5 Secrets of superior investors Lesson 290.07
Avoid 6 investing sins Lesson 290.08
Investment impatience destroys wealth Lesson 290.09
3 Yeses or no investment Lesson 290.10
Investing can be fun, interesting and slow Lesson 290.11
Warren Buffett explains gold Lesson 290.12
Stock trading halts explained Lesson 290.13
FAQ about money making investment choices Lesson 290.14
FAQ about financial and investment advisors Lesson 290.15
Next lesson:
Media exposes advisor incompetence
Let’s connect, follow me; Twitter LinkedIn Facebook
Share: Investing time or advisor time?
Buttons below let you share this lesson with family and friends!
Image courtesy: FreeDigitalPhotos.net
Lesson code: 310.02.
Copyright © 2011-24 Bryan Kelly
WhiteTopInvestor.com
