7 Secrets Comfortable Retirees Know About Hiring a Financial Advisor

This is a must read. If you cannot see this email properly, please click [here]( 7 Secrets Comfortable Retirees Know About Hiring a Financial Advisor Choosing a financial advisor is a major life decision that can determine your financial trajectory for years to come. A 2020 Northwestern Mutual study found that 71% of U.S. adults admit their financial planning needs improvement. However, only 29% of Americans work with a financial advisor.1 Why? With thousands of options available, it can seem daunting to choose one. But some things are better left to the professionals. While advisors are prohibited from promising returns, research suggests that people work with a financial advisor: - Feel more at ease about their finances, and - Could end up with 15% more money to spend in retirement.² So, how could that play out over time? Let’s pretend we have $500,000 to invest — a good chunk of change. According to a 2019 Vanguard study, here’s what that investment would be worth after 25 years: - $1.69 million with self-management alone - $3.4 million with a financial advisor (read: 2x more) In other words, an advisor-managed portfolio would average 8% annualized growth over a 25-year period, compared to just 5% from a self-managed portfolio.³ Okay... but how do I find one? SmartAsset’s [no-cost tool]( simplifies the time consuming process of finding an advisor. A short questionnaire matches you with up to three vetted financial advisors serving your area, each legally bound to work in your best interest. In many cases, you can be connected instantly to compare and decide on the best fit for you. Ready to know what to look out for? Check out SmartAsset’s list of [seven secrets comfortable retirees know about hiring an advisor](so you can work towards the path of financial freedom. [See All 7 Secrets]( Sources: 1. [“Planning and Progress”, Northwestern Mutual (2022)]( 2. ["Journal of Retirement Study Winter" (2020).]( The projections or other information regarding the likelihood of various investment outcomes are hypothetical in nature, do not reflect actual investment results, and are not guarantees of your future results. Please follow the link to see the methodologies employed in the [Journal of Retirement study.]( 3. Vanguard (February 2019), Putting a Value on Your Value The projections or other information regarding the likelihood of various investment outcomes are hypothetical in nature, do not reflect actual investment results, and are not guarantees of your future results. Please see the methodologies employed in the Vanguard whitepaper. To receive a copy of the whitepaper, please contact compliance@smartasset.com. This is not an offer to buy or sell any security or interest. All investing involves risk, including loss of principal. Working with an adviser may come with potential downsides such as payment of fees (which will reduce returns). There are no guarantees that working with an adviser will yield positive returns. The existence of a fiduciary duty does not prevent the rise of potential conflicts of interest. SmartAsset.com is not intended to provide legal advice, tax advice, accounting advice or financial advice (Other than referring users to third party advisers registered or chartered as fiduciaries ("Adviser(s)") with a regulatory body in the United States). SmartAsset is not a financial planner, broker or tax adviser. The Service is intended only to assist you in your understanding of financial organization and decision-making and is broad in scope. Your personal financial situation is unique, and any information and investing strategies obtained through SmartAsset.com may not be appropriate for your situation. Accordingly, before making any final decisions or implementing any financial strategy, you should consider obtaining additional information and advice from your accountant or other financial advisers who are fully aware of your individual circumstances. SmartAsset Advisors, LLC ("SmartAsset"), a wholly owned subsidiary of Financial Insight Technology, is registered with the U.S. Securities and Exchange Commission as an investment adviser. SmartAsset’s services are limited to referring users to third party advisers registered or chartered as fiduciaries ("Adviser(s)") with a regulatory body in the United States that have elected to participate in our matching platform based on information gathered from users through our online questionnaire. SmartAsset does not review the ongoing performance of any Adviser, participate in the management of any user’s account by an Adviser or provide advice regarding specific investments. 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