Actually, millions and millions of multi-millionaires regularly work closely with CFP® professionals. Believe it or not, millions and millions of people have built wealth with stocks and mutual funds.I work with them every single day.
Stocks and mutual funds are NOT terrible vehicles.You may not have direct control over any particular investment, but if you diversify across thousands of companies through an index fund, control your behavior during downturns, and invest long-term, your risk-adjusted return is actually higher than most RE investments. With RE you have ONE house that you’re putting your bets on.You’re subject to a plethora of other types of risk that are eliminated with an index fund.
Yes, the financial services industry is notorious for high fees.Most “advisors” are just salespeople who are incentivized to sell you products (like annuities) that make them money.So, make sure to ask how an advisor is compensated, and whether they are a fiduciary.Ask if they own RE, but don’t dismiss their intellect because they don’t own their own properties.There’s probably a reason, and you should hear them out.
The point I would hope to get across is that any smart investor who understands risk will own both real estate investments AND low-cost mutual funds.Perhaps you need an hourly CFP?To be honest, what you’re looking isn’t abundant in the CFP world.Let me know if you have any questions.Good luck with your search!
