Financial Planner

[Darrell Jones]

Good afternoon to all my fellow BP members.  

Should I start searching for a financial planner now or when I start making money in RE investing?  Is it worth working with a financial planner?  I know there are different kinds out there and you have to do some extensive interviewing and researching for someone that fits what you're trying to do.  But I'd like your opinions on the matter.  Please any advice would be greatly appreciated.

[Landon Elscott]

Just beware of fees that are unjustified.  Unless you're working with enough capital and wealth to justify the fees most financial planners charge, it won't be worth it considering the wealth of information you can get as a beginner just researching and asking questions.

I recommend getting a good CPA, but having a dedicated planner could quickly eat away at the money you have to invests and completely outweigh any gains they recommend.  Of course, if you can apply their suggestions in the future it could be a good investment.

Also, your local banker, insurance broker, and even the guy trying to sell you an annuity likely aren't looking out for your best interest, so find a financial advisor who isn't paid commissions on selling products you don't need and gets paid for performance.