{"id":128671,"date":"2021-06-02T09:30:00","date_gmt":"2021-06-02T15:30:00","guid":{"rendered":"https:\/\/www.biggerpockets.com\/blog\/?p=128671"},"modified":"2024-02-24T13:21:02","modified_gmt":"2024-02-24T20:21:02","slug":"do-you-need-financial-advisor","status":"publish","type":"post","link":"https:\/\/www.biggerpockets.com\/blog\/do-you-need-financial-advisor","title":{"rendered":"Feeling Financially Overwhelmed? You Might Need a Financial Advisor"},"content":{"rendered":"\n\n      <iframe loading=\"lazy\" frameborder=\"0\" height=\"200\" scrolling=\"no\" src=\"https:\/\/playlist.megaphone.fm?e=BIGPOC2423703862&#038;light=false\" width=\"100%\"><\/iframe>  \n\n\n\n\n<p class=\"wp-block-paragraph\">We need to talk. It\u2019s probably not what you think, but it is personal. So personal, in fact,<a href=\"https:\/\/mint.intuit.com\/blog\/consumer-iq\/this-is-how-many-people-dont-talk-about-their-finances\/\" target=\"_blank\" rel=\"noopener noreferrer\"> 51% of Americans<\/a> would rather not talk about it with friends or family.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">What could it possibly be? It\u2019s your finances.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Let\u2019s face it. No one likes talking about their financial situation. Whether you are a millionaire or a working-class hero, discussing your finances with your friends and family, let alone an advisor, may feel taboo.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">But a financial advisor could be the perfect person to talk to about your money! It\u2019s important to know when to ask for help about your investment strategy, but let\u2019s build a foundation first.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<div id=\"hero-block_62df1a82bfc88\" class=\"first:mt-0 hero-block py-4    has-background has-slate-200-background-color has-text-color has-theme-gold-color\">\n    <div\n        class=\" flex flex-wrap lg:flex-nowrap max-w-screen-xl mx-auto px-4 relative lg:items-center \">\n\n        <div class=\"relative z-30 w-full \">\n            <main class=\"py-4\">\n                \n\n<p class=\"has-slate-800-color has-text-color has-large-font-size wp-block-paragraph\" style=\"font-style:normal;font-weight:800\">The Money Podcast<\/p>\n\n\n\n<p class=\"my-3 md:my-5 lg:my-8 has-slate-900-color has-text-color wp-block-paragraph\" style=\"font-size:16px\">Kickstart your personal finance journey with Scott and Mindy as they break down the good, bad, and ugly of people\u2019s personal money stories. From interviews with entrepreneurs and business owners to breakdowns of listener finances, you\u2019ll get actionable advice on how to get out of debt and grow your money.<\/p>\n\n\n\n<div id=button-custom-event-block_65400b52d0a76 class='button-custom-event'>\n      <a href=\"https:\/\/link.chtbl.com\/Money\" x-on:click=\"window.analytics.track(&#039;Money Podcast Blog CTA Click&#039;, {\n      referrer: &#039;https:\/\/www.biggerpockets.com\/blog\/do-you-need-financial-advisor&#039;,\n    });\" class=\" btn-shape inline-block no-underline has-background has-theme-slate-dark-background-color has-text-color has-white-color\" target=\"_blank\" rel=\"noopener\">Listen Now<\/a>\n  <\/div>\n\n            <\/main>\n        <\/div>\n\n                <div class=\" first:mt-0 relative h-full lg:flex lg:items-center\">\n            <img decoding=\"async\" class=\"object-cover w-full relative z-20 my-0  shadow-xl rounded-md hidden lg:block\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2021\/12\/BP_Money_podcast_square-1024x1024-1-e1660861377128.jpeg\" alt=\"\" title=\"\">\n        <\/div>\n            <\/div>\n<\/div>\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\">What is a financial advisor?<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">A financial advisor is more than someone who advises investors. An advisor helps you create a financial plan to achieve your goals, whether that be financial independence or retirement planning for luxurious golden years.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It\u2019s easy to wonder, <em>Do I need a financial advisor? I\u2019m not rich<\/em>. Financial advice isn\u2019t only for the wealthy. Their plans can help with:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Budgeting<\/li>\n\n\n\n<li>Saving<\/li>\n\n\n\n<li>Investing<\/li>\n\n\n\n<li>Insurance strategies<\/li>\n\n\n\n<li>Tax tips<\/li>\n\n\n\n<li>Financial literacy<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">The plan created alongside them can help you build wealth, achieve your financial goals, and avoid any predictable risks.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Be sure to look for a financial advisor that is also a <em>fiduciary<\/em>. Fiduciaries are required to act in your best interest. A financial advisor that is not a fiduciary (and they are out there!) might make decisions based on their own profit.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">How are financial advisors paid?<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">You might be wondering how financial advisors get paid to do all this. Let\u2019s take a look.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Fee-only financial advisors<\/strong>: Fee-only advisors have a set rate. The rate can be based annually or hourly, depending on the work you have them doing. Another type of fee-only advisor involves a flat fee, such as charging a set percentage of the assets they are managing.<\/li>\n\n\n\n<li><strong>Commission-based financial advisors<\/strong>: These advisors make their money by taking a commission from every investment they sell or open. Three examples of investments are insurance packages, retirement accounts, or mutual funds\u2014but there are many others. Keep in mind that these advisors are commonly critiqued. There\u2019s an incentive to complete transactions in order to earn more of a commission rather than benefit your financial future.<\/li>\n\n\n\n<li><strong>Fee-based financial advisors<\/strong>: Note that this type is <em>based<\/em> on the advisor\u2019s fee, not only the fee as mentioned before. These advisors have a set fee, but they also earn a percentage of your investments in exchange for managing them<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Helping plan your financial future<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">A financial advisor is important no matter how much knowledge you hold in the financial industry. Advisors have specific training to help you with your specific needs.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Some personalities find it hard to plan ahead. It can be difficult to think of what you want in retirement when you are just starting out in your career. A financial advisor\u2019s expertise comes from working with a variety of people at different life stages. They have been able to see people\u2019s financial futures play out. Plus, it\u2019s exciting to know what your future is and how you can make it come to fruition.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Allowing you to worry less about your money<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Finances can be overwhelming\u2014so why not hire a money manager? With a set plan in place, you can know exactly what to do with your money without needing to research for days. You know what your money is doing and <em>why<\/em> you have that plan in place. There\u2019s a bigger picture, so you don\u2019t have to worry about every little thing.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Serving as an impartial third-party opinion<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Money is personal, so financial decisions can be emotionally taxing. A financial advisor can be an unbiased, outside source of information during these decisions. This allows you to see financial decisions from both sides. Your advisor might also save you from taking a huge financial risk based on how you feel in that moment. Similarly, if you and your partner can\u2019t agree on a financial decision, an advisor can provide their opinion based on the facts and be a good mediator.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Now you know <em>why <\/em>to hire a financial advisor, but you still don&#8217;t know <em>when. <\/em>Let&#8217;s dive into those reasons now.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Secondary income<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Earning an additional income is a move that many financial advisors encourage. Advisor <a href=\"https:\/\/www.forbes.com\/sites\/ericbrotman\/2020\/06\/03\/life-advice-from-a-financial-advisor-get-a-side-hustle\/?sh=397d4f1c7c77\" target=\"_blank\" rel=\"noopener noreferrer\">Eric Brotman<\/a> thinks it might be a good idea to start that side hustle\u2014especially during these unusual times\u2014saying that &#8220;you\u2019re going to want the money.&#8221;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Maybe you finally got around to starting your own business or you own a rental property. A financial advisor can assist you in handling multiple money streams, especially if these are new investing avenues for you. Even if you do have experience with additional income, a licensed financial professional can help you to minimize your margin for error, resulting in optimal success.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Finding the perfect part-time job or extra gig does not have to be rocket science. Take one of your passions and turn it into a lucrative side business. If you want to keep your hobbies separate from your professions, see what services are in demand in your area.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Major life changes<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Even if you feel like your life has become sort of stagnant during the pandemic, that doesn\u2019t mean your life is without change. Many of us are struggling to keep our jobs, our investments have become uncertain, or we have an ever-increasing pile of bills, among any number of other sudden changes.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">As we struggle to make ends meet, it may seem like the wrong move to spend more money on expert assistance, especially if it feels more important to spend money on bills, finding a job, or home supplies. In reality, taking a step back and asking for help now could save you more than you realize.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">You can hire an advisor to help you get started or to serve as an investment mentor for the long haul. In any uncertain climate, having some reassurance and guidance is key. Many financial advisors use a method called <a href=\"https:\/\/www.thebalance.com\/should-you-hire-a-financial-advisor-4120717\" target=\"_blank\" rel=\"noopener\">behavioral coaching<\/a> to keep your worries in check and help you plan for what lies ahead.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Feeling overwhelmed<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Now, not everyone is a money guru or has an expansive amount of monetary knowledge. Some of us may not know what actions to take, where to spend the money, or how to pay off debts. It can be easy to get in over your head. This can be a great opportunity to press the reset button and either create a new strategy on your own or bring in some outside help.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">For instance, a financial planner can help you organize your revenue and set a goal-oriented timeline that works best for you. They can help you sort through the clutter, determine your priorities, and collaborate with you on a roadmap to help ease some of the pressure.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">We get it: It can be easy to be distrusting when someone tries to tell you how to spend your money. Your financial lives feel private. We get it! Plus, you may have some economic expertise in your wealth of knowledge. That is great, but another set of eyes\u2014professional ones\u2014may be all you need to set sail in the right direction.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Preparing for the next chapter<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Maybe you are helping a child prepare for college or your retirement is around the corner. Your financial advisor wants to do what they can to help you make the best decisions for your future. Even situations like family inheritance can be daunting. Having an advisor to help clear the fog around investment assets can be a good thing.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Make sure that you hire the right person for your situation. The qualities of a retirement advisor may not be the same as someone helping you or your child pursue further education.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Why hire a financial advisor to help with your retirement? As you enter the next stage of your life, the previous one comes to a close. Ensuring that all of your previous debts, assets, long-term care needs, and various accounts are in order is an overwhelming task for any one person.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Similarly, when prepping for continuing education, many of the same circumstances can hold true. Attending school typically invites debt acclamation and other expenses. No matter how organized you are, some things are bound to fall through the cracks. Better to be safe than sorry.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">So you\u2019ve decided you want to take the next step and find a financial advisor! You&#8217;ve answered the <em>why <\/em>and <em>when <\/em>but now it&#8217;s time to answer the <em>who. <\/em>There are a number of different certifications and exams that advisors can take. The main types of financial advisors include the following.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Investment advisor<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Registered investment advisors (RIAs) manage portfolios and offer a strategy based on your investment portfolio and financial goals. They can help you understand how investing builds your wealth, and they know which investment accounts to recommend.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Certified financial planner<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Certified financial planners (CFP) take a look at the bigger picture, and can easily handle complexity. They consider your retirement savings, emergency savings, monthly budget, lifestyle aspirations, and insurance needs to create a plan and offer advice specific to you.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Wealth manager<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Wealth managers typically work with the high-net-worth population. They serve the same holistic purpose as CFPs, but they also specialize in estate planning, accounting, and philanthropic decisions.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Robo-advisor<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Robo-advisors are becoming more popular in making it easier for people to invest\u2014especially with financial apps. They create automated portfolio recommendations for you based on your responses to questions about risk tolerance, financial goals, and timeline. If you want moderate to minimal human intervention, this is the route to take.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Having certified, professional advice does not mean you are incapable of handling your own money. If anything, rest assured that seeking the help you need is a sign that you acknowledge the benefits of licensed aides guiding you toward your ultimate goals.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It doesn\u2019t matter if you are seeking financial independence, have experienced a sudden life change, are overwhelmed by a mountain of debt, or are planning the next chapter of your life. No matter how comfortable or uncomfortable you are with managing your own finances, there is no harm in talking to someone to make sure you are on the right path.<\/p>\n\n\n\n  <div id=\"posts_lists-block_609aac5baa3e6\" class=\"  my-10\">\n    <div class=\"\">\n      <!-- Column One -->\n      <div>\n                  <h2 class=\"mt-0 mb-1 js-toc-ignore\">\n            More on financial planning from BiggerPockets          <\/h2>  \n                  \n        \n        \n        <div class=\"grid grid-cols-1 gap-y-4 lg:gap-y-7 mt-5\">\n          \n<article \n\tid=\"post-91598\" \n\tclass=\"content-card mb-0 flex flex-col  post-91598 post type-post status-publish format-standard has-post-thumbnail hentry category-real-estate-business-management category-biggerpockets-daily tag-accounting tag-business tag-business-comm tag-business-management-2\">\n\n\t<header class=\"entry-header\">\t\t\t\n\t\t<!-- Image -->\n        \t\t\t<a class=\"post-thumbnail\" href=\"https:\/\/www.biggerpockets.com\/blog\/hire-the-right-cpa\" target=\"_blank\" aria-hidden=\"true\" tabindex=\"-1\">\n\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"332\" height=\"225\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2019\/08\/CPA-questions-560x380.png\" class=\"size-card w-full  m-0 aspect-[68\/45] object-scale-down wp-post-image\" alt=\"Nail Your Taxes by Hiring the Right CPA\" title=\"\">\t\t\t<\/a>\n\t\t        \n\n\t\t<!-- Content Wrapper -->\n\t\t<div class=\"py-4 \">\t\n                            <div class=\"flex gap-4 justify-between items-center\">\n                    <!-- Category  -->\n                                            <a href=\"https:\/\/www.biggerpockets.com\/blog\/category\/managing-scaling\/real-estate-business-management\" class=\"transition-colors bg-themeBlue\/20 text-themeBlue-medium hover:bg-themeBlue hover:text-white px-2 py-1 mb-2 inline-block rounded-sm no-underline text-sm\" target=\"_blank\">Real Estate Business Management<\/a>\n                    \n                                            <span class=\"text-sm text-gray-500 hidden lg:inline-block\">6 min read<\/span>\n                                    <\/div>\n            \n           <div class=\"flex gap-3 items-center my-2 flex-nowrap text-base\">\n                <!-- Avatar and Author Name -->\n                <img decoding=\"async\" src=\"https:\/\/bp-wp-migration.s3.amazonaws.com\/author_avatars\/59534.jpg\" class=\"w-8 h-8 object-cover my-0 inline-block rounded-full\" alt=\"\" title=\"\"><span class='leading-snug text-slate-500 flex items-center'><span class='hidden whitespace-nowrap sm:inline-block md:hidden lg:inline-block pr-1'><span class='posted-on'><time class=\"entry-date published\" datetime=\"2021-04-06T09:30:00-06:00\">Apr 06, 2021<\/time><time class=\"updated\" datetime=\"2023-07-24T13:19:48-06:00\">Jul 24, 2023<\/time><\/span><\/span>&nbsp;<a href=\"https:\/\/www.biggerpockets.com\/blog\/contributors\/larryalton\" class=\"no-underline line-clamp-1\" target=\"_blank\">Larry Alton<\/a><\/span>            <\/div>\n\n            <!-- Post title -->\n\t\t\t<h2 class=\"entry-title js-toc-ignore mt-4 mb-0 text-xl leading-snug text-left\">\n\t\t\t\t<a href=\"https:\/\/www.biggerpockets.com\/blog\/hire-the-right-cpa\" rel=\"bookmark\" class=\"whitespace-normal no-underline font-bold  text-slate visited:text-slate hover:text-themeBlue\" target=\"_blank\">\n\t\t\t\t\tNail Your Taxes by Hiring the Right CPA\t\t\t\t<\/a>\n\t\t\t<\/h2>\n\t\t\t\n                        <p class=\"text-lg font-normal mt-3 text-slate-500 mb-1 line-clamp-3\">There are plenty of things you can do yourself for your business, but taxes and accounting shouldn&#8217;t necessarily be among them. Protect yourself, your business, and your assets by enlisting&hellip;<\/p>\n\t\t<\/div>\n\t<\/header>\n     <footer class=\"flex justify-between mt-auto\">\n        <!-- Comment Count -->\n        \t\t<span class='flex items-center space-x-2 text-sm' x-cloak x-data='commentCount()' :class=\"parseFloat(commentCount) < 1 || commentCount == '' ? 'hidden' : 'flex'\">\n\t\t\n            <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"h-5 w-5 text-slate text-opacity-50\" fill=\"none\" viewBox=\"0 0 24 24\" stroke=\"currentColor\">\n                <path stroke-linecap=\"round\" stroke-linejoin=\"round\" stroke-width=\"2\" d=\"M17 8h2a2 2 0 012 2v6a2 2 0 01-2 2h-2v4l-4-4H9a1.994 1.994 0 01-1.414-.586m0 0L11 14h4a2 2 0 002-2V6a2 2 0 00-2-2H5a2 2 0 00-2 2v6a2 2 0 002 2h2v4l.586-.586z\" \/>\n            <\/svg>\n\n            <span x-ref=\"comment_count\" class=\"disqus-comment-count text-slate text-opacity-80\" data-disqus-identifier=\"91598\">\n\t\t\t\t\t\t\t<\/span>\n        <\/span>\n\t    <\/footer>\n<\/article><!-- #post-91598 -->\n<article \n\tid=\"post-131329\" \n\tclass=\"content-card mb-0 flex flex-col  post-131329 post type-post status-publish format-standard has-post-thumbnail hentry category-diversifying-investments\">\n\n\t<header class=\"entry-header\">\t\t\t\n\t\t<!-- Image -->\n        \t\t\t<a class=\"post-thumbnail\" href=\"https:\/\/www.biggerpockets.com\/blog\/9-mistakes-high-net-worth-investors\" target=\"_blank\" aria-hidden=\"true\" tabindex=\"-1\">\n\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"338\" height=\"225\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2019\/12\/mistake-slip-on-banana-peel.jpg\" class=\"size-card w-full  m-0 aspect-[68\/45] object-scale-down wp-post-image\" alt=\"9 Huge Investing Mistakes Millionaires Often Make\" srcset=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2019\/12\/mistake-slip-on-banana-peel.jpg 830w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2019\/12\/mistake-slip-on-banana-peel-300x200.jpg 300w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2019\/12\/mistake-slip-on-banana-peel-768x512.jpg 768w\" sizes=\"auto, (max-width: 338px) 100vw, 338px\" title=\"\">\t\t\t<\/a>\n\t\t        \n\n\t\t<!-- Content Wrapper -->\n\t\t<div class=\"py-4 \">\t\n                            <div class=\"flex gap-4 justify-between items-center\">\n                    <!-- Category  -->\n                                            <a href=\"https:\/\/www.biggerpockets.com\/blog\/category\/personal-finance\/diversifying-investments\" class=\"transition-colors bg-themeBlue\/20 text-themeBlue-medium hover:bg-themeBlue hover:text-white px-2 py-1 mb-2 inline-block rounded-sm no-underline text-sm\" target=\"_blank\">Diversifying Your Investments<\/a>\n                    \n                                            <span class=\"text-sm text-gray-500 hidden lg:inline-block\">4 min read<\/span>\n                                    <\/div>\n            \n           <div class=\"flex gap-3 items-center my-2 flex-nowrap text-base\">\n                <!-- Avatar and Author Name -->\n                <img decoding=\"async\" src=\"https:\/\/bp-wp-migration.s3.amazonaws.com\/author_avatars\/23983.jpg\" class=\"w-8 h-8 object-cover my-0 inline-block rounded-full\" alt=\"\" title=\"\"><span class='leading-snug text-slate-500 flex items-center'><span class='hidden whitespace-nowrap sm:inline-block md:hidden lg:inline-block pr-1'><span class='posted-on'><time class=\"entry-date published\" datetime=\"2020-10-28T10:36:53-06:00\">Oct 28, 2020<\/time><time class=\"updated\" datetime=\"2024-02-13T18:53:58-07:00\">Feb 13, 2024<\/time><\/span><\/span>&nbsp;<a href=\"https:\/\/www.biggerpockets.com\/blog\/contributors\/scottsmith-2\" class=\"no-underline line-clamp-1\" target=\"_blank\">Scott Smith<\/a><\/span>            <\/div>\n\n            <!-- Post title -->\n\t\t\t<h2 class=\"entry-title js-toc-ignore mt-4 mb-0 text-xl leading-snug text-left\">\n\t\t\t\t<a href=\"https:\/\/www.biggerpockets.com\/blog\/9-mistakes-high-net-worth-investors\" rel=\"bookmark\" class=\"whitespace-normal no-underline font-bold  text-slate visited:text-slate hover:text-themeBlue\" target=\"_blank\">\n\t\t\t\t\t9 Huge Investing Mistakes Millionaires Often Make\t\t\t\t<\/a>\n\t\t\t<\/h2>\n\t\t\t\n                        <p class=\"text-lg font-normal mt-3 text-slate-500 mb-1 line-clamp-3\">A sound financial situation is the goal of every investor. But individuals with a high net worth face challenges fundamentally different than others just beginning to invest.<\/p>\n\t\t<\/div>\n\t<\/header>\n     <footer class=\"flex justify-between mt-auto\">\n        <!-- Comment Count -->\n        \t\t<span class='flex items-center space-x-2 text-sm' x-cloak x-data='commentCount()' :class=\"parseFloat(commentCount) < 1 || commentCount == '' ? 'hidden' : 'flex'\">\n\t\t\n            <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"h-5 w-5 text-slate text-opacity-50\" fill=\"none\" viewBox=\"0 0 24 24\" stroke=\"currentColor\">\n                <path stroke-linecap=\"round\" stroke-linejoin=\"round\" stroke-width=\"2\" d=\"M17 8h2a2 2 0 012 2v6a2 2 0 01-2 2h-2v4l-4-4H9a1.994 1.994 0 01-1.414-.586m0 0L11 14h4a2 2 0 002-2V6a2 2 0 00-2-2H5a2 2 0 00-2 2v6a2 2 0 002 2h2v4l.586-.586z\" \/>\n            <\/svg>\n\n            <span x-ref=\"comment_count\" class=\"disqus-comment-count text-slate text-opacity-80\" data-disqus-identifier=\"131329\">\n\t\t\t\t\t\t\t<\/span>\n        <\/span>\n\t    <\/footer>\n<\/article><!-- #post-131329 -->\n<article \n\tid=\"post-76658\" \n\tclass=\"content-card mb-0 flex flex-col  post-76658 post type-post status-publish format-standard has-post-thumbnail hentry category-personal-development\">\n\n\t<header class=\"entry-header\">\t\t\t\n\t\t<!-- Image -->\n        \t\t\t<a class=\"post-thumbnail\" href=\"https:\/\/www.biggerpockets.com\/blog\/2016-04-05-buy-and-hold-forever-retirement\" target=\"_blank\" aria-hidden=\"true\" tabindex=\"-1\">\n\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"340\" height=\"163\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2016\/04\/buy-hold-retirement.jpg\" class=\"size-card w-full  m-0 aspect-[68\/45] object-scale-down wp-post-image\" alt=\"Why the Buy &#038; Hold Forever Strategy May NOT Be Best for Retirement\" srcset=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2016\/04\/buy-hold-retirement.jpg 702w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2016\/04\/buy-hold-retirement-300x144.jpg 300w\" sizes=\"auto, (max-width: 340px) 100vw, 340px\" title=\"\">\t\t\t<\/a>\n\t\t        \n\n\t\t<!-- Content Wrapper -->\n\t\t<div class=\"py-4 \">\t\n                            <div class=\"flex gap-4 justify-between items-center\">\n                    <!-- Category  -->\n                                            <a href=\"https:\/\/www.biggerpockets.com\/blog\/category\/managing-scaling\/personal-development\" class=\"transition-colors bg-themeBlue\/20 text-themeBlue-medium hover:bg-themeBlue hover:text-white px-2 py-1 mb-2 inline-block rounded-sm no-underline text-sm\" target=\"_blank\">Personal Development &amp; Goals<\/a>\n                    \n                                            <span class=\"text-sm text-gray-500 hidden lg:inline-block\">5 min read<\/span>\n                                    <\/div>\n            \n           <div class=\"flex gap-3 items-center my-2 flex-nowrap text-base\">\n                <!-- Avatar and Author Name -->\n                <img decoding=\"async\" src=\"https:\/\/bp-wp-migration.s3.amazonaws.com\/author_avatars\/555.jpg\" class=\"w-8 h-8 object-cover my-0 inline-block rounded-full\" alt=\"\" title=\"\"><span class='leading-snug text-slate-500 flex items-center'><span class='hidden whitespace-nowrap sm:inline-block md:hidden lg:inline-block pr-1'><span class='posted-on'><time class=\"entry-date published\" datetime=\"2016-04-05T14:50:20-06:00\">Apr 05, 2016<\/time><time class=\"updated\" datetime=\"2021-03-16T11:52:06-06:00\">Mar 16, 2021<\/time><\/span><\/span>&nbsp;<a href=\"https:\/\/www.biggerpockets.com\/blog\/contributors\/jeffbrown\" class=\"no-underline line-clamp-1\" target=\"_blank\">Jeff Brown<\/a><\/span>            <\/div>\n\n            <!-- Post title -->\n\t\t\t<h2 class=\"entry-title js-toc-ignore mt-4 mb-0 text-xl leading-snug text-left\">\n\t\t\t\t<a href=\"https:\/\/www.biggerpockets.com\/blog\/2016-04-05-buy-and-hold-forever-retirement\" rel=\"bookmark\" class=\"whitespace-normal no-underline font-bold  text-slate visited:text-slate hover:text-themeBlue\" target=\"_blank\">\n\t\t\t\t\tWhy the Buy &#038; Hold Forever Strategy May NOT Be Best for Retirement\t\t\t\t<\/a>\n\t\t\t<\/h2>\n\t\t\t\n                        <p class=\"text-lg font-normal mt-3 text-slate-500 mb-1 line-clamp-3\">Is your retirement strategy to accumulate a bunch of rentals to hold onto indefinitely? Before you put all your eggs in that basket, read this!<\/p>\n\t\t<\/div>\n\t<\/header>\n     <footer class=\"flex justify-between mt-auto\">\n        <!-- Comment Count -->\n        \t\t<span class='flex items-center space-x-2 text-sm' x-cloak x-data='commentCount()' :class=\"parseFloat(commentCount) < 1 || commentCount == '' ? 'hidden' : 'flex'\">\n\t\t\n            <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"h-5 w-5 text-slate text-opacity-50\" fill=\"none\" viewBox=\"0 0 24 24\" stroke=\"currentColor\">\n                <path stroke-linecap=\"round\" stroke-linejoin=\"round\" stroke-width=\"2\" d=\"M17 8h2a2 2 0 012 2v6a2 2 0 01-2 2h-2v4l-4-4H9a1.994 1.994 0 01-1.414-.586m0 0L11 14h4a2 2 0 002-2V6a2 2 0 00-2-2H5a2 2 0 00-2 2v6a2 2 0 002 2h2v4l.586-.586z\" \/>\n            <\/svg>\n\n            <span x-ref=\"comment_count\" class=\"disqus-comment-count text-slate text-opacity-80\" data-disqus-identifier=\"76658\">\n\t\t\t\t\t\t\t<\/span>\n        <\/span>\n\t    <\/footer>\n<\/article><!-- #post-76658 -->        <\/div>\n      <\/div>\n    <\/div>\n  <\/div>\n\n  ","protected":false},"excerpt":{"rendered":"<p>No one likes talking about their financial situation. But it\u2019s important to know when to ask for help about your finances. Here&#8217;s how to know when an advisor is right for you.<\/p>\n","protected":false},"author":612924,"featured_media":138356,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7119,20],"tags":[7205,7225,2526],"class_list":["post-128671","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-biggerpockets-daily","category-personal-development","tag-basics","tag-money-comm","tag-personal-finance"],"acf":[],"comment_count":0,"_links":{"self":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts\/128671","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/users\/612924"}],"replies":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/comments?post=128671"}],"version-history":[{"count":0,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts\/128671\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/media\/138356"}],"wp:attachment":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/media?parent=128671"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/categories?post=128671"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/tags?post=128671"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}