The Motley Fool Discussion Boards
Investing/Strategies / Retirement Investing
|Subject: Re: Consolidation||Date: 4/17/2010 7:57 PM|
|Author: ptheland||Number: 66960 of 77566|
Money down the drain is all I can say.
Yes and no.
$4k to $5k is a bit much to pay for 3 or 4 hours of consulting. That is a rate in excess of $1000 per hour. $500 per hours sounds like a lot to me, and I think you could find good advice for more like $200 to $300 per hour.
But I disagree that paying for financial advice in and of itself is a waste. There are a number of people who lack the time, the inclination, or the ability to do their own financial planning. For those people, paying for some advice could be a very prudent thing to do, and (assuming the advice is sound) would actually increase their net worth by paying for financial advice.
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