Are you thinking about retirement? Not daydreaming about pickleball and piña coladas—we’re talking goal-setting, plan-making, looking-out-for-your-future-self…ing.
Your golden years may be here before you know it. So whether you’re doing the entry-level hustle or climbing toward the C-Suite, it can be important to plan for your financial future. Having professional guidance can help.
Whether you received a grad gift ($$$) from grandma, have a little extra cash from your investment portfolio, or want to plan ahead for retirement, financial advisors can help guide you toward your financial goals.
Financial advisors can potentially make an impact on your overall lifetime net worth and earnings. According to SmartAsset’s proprietary model, working with a financial advisor could potentially add from 36% to 212% more dollar value to investors’ portfolios over a lifetime, depending on multiple unique, individual factors.¹ Talk about saving for a rainy day.
And though working with a financial advisor from a young age can potentially yield better value throughout a career, it’s never too late to get started. After accounting for inflation (2.56%) and fees (1% or 0.75%), SmartAsset estimates that people who work with financial advisors could see annual rates of return from 2.39% to 2.78% of net worth over those without an advisor.¹
Heck, don’t take our word for it. To learn how working with a financial advisor could potentially impact earnings over a lifetime, we partnered with SmartAsset to break it all down. Let’s get started.
Get some guidance
Ready to start planning for your financial future like our not-exactly-real colleague Mia? Connect with financial advisors for free with SmartAsset.
SmartAsset connects individuals with financial advisors across the U.S.—from independent advisors to large investment firms—to accommodate a wide range of financial needs. And its free tool matches you with vetted financial advisors serving your area. In many cases, you can be connected instantly with an advisor to have an introductory call.
All advisors are rigorously vetted through a proprietary due diligence process—and over 1m investors and retirees have already used SmartAsset to compare their financial advisor matches.
Interested in finding a financial advisor? Just use SmartAsset’s handy matching tool below to find and compare vetted financial advisors serving your area:
It’s never too early (or too late!) to get financial guidance from a pro.
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Disclosures:
This is a hypothetical example and is not representative of any specific security. Actual results when working with a financial advisor will vary.
This scenario is for illustrative purposes only and does not represent an actual client. Results may vary.
It is not possible to invest directly in an index. Exposure to an asset class represented by an index may be available through investable instruments based on that index. Past performance of an index is not an indication or guarantee of future results. Indexes do not pay transaction charges or management fees.
The above summary/prices/quote/statistics has been obtained from sources we believe to be reliable, but we cannot guarantee its accuracy or completeness. Past performance is no guarantee of future results.
This is not an offer to buy or sell any security or interest. All investing involves risk, including loss of principal. Working with an adviser may come with potential downsides such as payment of fees (which will reduce returns). Past performance is not a guarantee of future results. There are no guarantees that working with an adviser will yield positive returns. The existence of a fiduciary duty does not prevent the rise of potential conflicts of interest.
SmartAsset.com is not intended to provide legal advice, tax advice, accounting advice or financial advice (Other than referring users to third party advisers registered or chartered as fiduciaries ("Adviser(s)") with a regulatory body in the United States). The article and opinions in this publication are for general information only and are not intended to provide specific advice or recommendations for any individual. We suggest that you consult your accountant, tax, or legal advisor with regard to your individual situation.
SmartAsset Advisors, LLC ("SmartAsset"), a wholly owned subsidiary of Financial Insight Technology, is registered with the U.S. Securities and Exchange Commission as an investment adviser. SmartAsset’s services are limited to referring users to third party advisers registered or chartered as fiduciaries ("Adviser(s)") with a regulatory body in the United States that have elected to participate in our matching platform based on information gathered from users through our online questionnaire. SmartAsset receives compensation from Advisers for our services. SmartAsset does not review the ongoing performance of any Adviser, participate in the management of any user’s account by an Adviser or provide advice regarding specific investments.
We do not manage client funds or hold custody of assets, we help users connect with relevant financial advisors.
Sources:
1. “The Value of a Financial Advisor: What’s It Really Worth?” SmartAsset (Nov. 2024)
2. This example demonstrates the potential final lifetime portfolio value, accounting for estimated investment returns, tax savings and inflation over different life stages for an individual starting with $20,000 at age 22, through age 77, with an annual salary of $60,000. Under a set of core assumptions, this consumer profile is projected to have a final lifetime portfolio value of approximately $968k if retaining the services of a financial advisor – not accounting for additional savings or portfolio withdrawals – versus a final estimated lifetime portfolio value of $424k without the services of a financial advisor. This example is based on the valuation framework presented in SmartAsset's whitepaper “The Value of a Financial Advisor: What's It Really Worth?” (Nov. 2024).
3. This example demonstrates the potential final lifetime portfolio value, accounting for estimated investment returns, tax savings and inflation over different life stages for an individual starting with $130,000 at age 30, through age 77, with an annual salary of $130,000. Under a set of core assumptions, this consumer profile is projected to have a final lifetime portfolio value of approximately $1.99m if retaining the services of a financial advisor – not accounting for additional savings or portfolio withdrawals – versus a final estimated lifetime portfolio value of $888k without the services of a financial advisor. This example is based on the valuation framework presented in SmartAsset's whitepaper “The Value of a Financial Advisor: What's It Really Worth?” (Nov. 2024).
4. This example demonstrates the potential final lifetime portfolio value, accounting for estimated investment returns, tax savings and inflation over different life stages for an individual starting with $800,000 at age 45, through age 77, with an annual salary of $200,000. Under a set of core assumptions, this consumer profile is projected to have a final lifetime portfolio value of approximately $3.15m if retaining the services of a financial advisor – not accounting for additional savings or portfolio withdrawals – versus a final estimated lifetime portfolio value of $2.13m without the services of a financial advisor. This example is based on the valuation framework presented in SmartAsset's whitepaper “The Value of a Financial Advisor: What's It Really Worth?” (Nov. 2024).
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Illustration by Brad Cuzen
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