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Financial advice for generation X
originally posted: 11/22/2006
reposted: 2/18/2011 This post has not
been recently reviewed or revised by the author and may be out of date.
If you notice an error or are in doubt, please send a new question by
email or ask for an update. Email asktony@tonynovak.com.
Q: I am 27 years old and have a
small investment account. Am I ready for a financial adviser?
A: Seventy percent of all people
with investable assets, regardless of the amount of their investments,
use a financial adviser at least some of the time. The percentage
appears to be even higher for "generation Xers" who are on the fast
track toward financial success. So clearly the answer is yes, but make
sure that you use a fee only adviser. Most young people wind up
gravitating toward one of the more widely advertised financial firms
that are commission-based.
Summary
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