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Ramit Sethi, the host of Netflix’s “How To Get Rich,” a New York Times bestselling author, and the host of the “I Will Teach You To Be Rich” podcast, is a respected figure in the personal finance domain—and rightfully so.
Sethi, a self-made millionaire, merges economic insight with profound understandings of human behavior. He comprehends the mechanics of money and the psychology behind it, creating actionable, realistic, and uplifting content that benefits individuals from novice savers to those fine-tuning their retirement portfolios.
It’s Not Just About ‘Needing’ a Financial Advisor; It’s About Safety
In a recent email to his subscribers, Sethi shared insights on the expenses he now prioritizes at age 42 that he overlooked in his 20s. One of these includes hiring a financial advisor alongside a posture coach and an airline miles strategist.
For Sethi, engaging a financial advisor isn’t primarily about necessity; rather, it’s about enhancing his financial security. This becomes particularly important when managing a substantial or intricate portfolio, as Sethi does.
“Having a second perspective can be incredibly beneficial to ensure you’re not overlooking anything,” Sethi noted in his newsletter. “I’ve employed an advisor to assess my asset allocation and reveal any potential blind spots.”
Sethi Avoids Paying a Percentage of Assets Under Management (AUM)
Some financial advisors charge a flat fee, while others operate on an AUM basis, commonly around 1%. This model is often criticized by finance experts for being generally more expensive. Sethi indicated he doesn’t pay an AUM, suggesting he opts for a flat-fee financial advisor.
Although he didn’t reveal the specific advisor he collaborates with, he did recommend Facet, an online financial advising service providing comprehensive plans from certified financial planners for a fixed annual fee.
“If you’re seeking a second opinion on your finances, consider our partners at Facet,” Sethi advised. “With Facet, you receive access to a team of CFP® professionals for a flat-fee subscription, assisting you in drafting a tailored financial strategy.”
How a Financial Advisor Can Assist You in Achieving Your Wealth Objectives
In his newsletter, Sethi also discussed setting more ambitious goals as he ages. While he expresses no regret for spending at bars in his 20s—embracing the moment—he is now focused on greater aspirations.
“My approach is to fully embrace the current season of life while being aware of what lies ahead,” Sethi articulated. Even though he has years until the typical retirement age, his future plans remain unclear. Retirement might very well be his “next season,” the phase that holds the biggest objectives, for which a financial advisor can guide Sethi, just as they can for you, regardless of your financial standing.
