[‎‎USER]

What percent are y’all putting towards savings every year? My husband and I are looking to hire a financial advisor soon.

For those that already have a financial advisor, what is a common price range that we should expect these advisors to charge per appointment?

[Nikki]

We save 25-30% and our financial advisor is a flat fee of $1000/year.

[Scott]

Most of them charge 1-1.5% of your net worth annually. There are per hr guys out there, but I don’t know what they charge.

[Chad]

Dave Ramsey recommends 15% towards retirement and The Money Guy recommends 25% to retirements and savings.

The more you can put earlier, the more compounding interest to make your money work harder and you not need to work as hard to prepare for retirement.

I would add that where you put the money is as important.

the Money Guy has a good download called, Financial Order of Operations.

It says how to prioritize your money and in which order.

[Elstad]

I live in Mass, female, My base is 110k,
I’m able to put aside 40% of each paycheck.

This year for the first time I will have bonus and profit sharing (together it’s 30% on top of base), this will be fully set aside.

I’m very mindful of how I spend and work towards particular goals, this helps to stay focused.

30k car bought in cash, 10k to bring extended family for a vacation (I’m an immigrant), 30k save for downpayment, and invest at the same time.

[Robert]

I’m able to do about 20% of my salary; but I have other income besides my salary. The percentage will vary for everyone; as I’ve often said before, there is no “one size fits all.” Now as far as you and your husband hiring a financial advisor…

Generally, advisors do not charge for their initial appointment with you.

That’s because the purpose of this appointment is to convince you to put your assets under their management; which of course will incur a fee- usually a percentage of such assets.

Think about it – a financial advisor is a guy (most of them are guys) who is supposedly going to tell you how to make money from money. But here’s the thing – if this dude could really make money from money….

[Barron]

I contribute $2,000/month to our retirement account. My husband makes less, so he contributes around $1,000/month.

[Author]

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