Intelligence

Why Gen X Investors Shouldn’t Go It Alone

A new report from the Advisory Authority Study found that Gen X investors are the least likely of any generation to work with a financial advisor. At the same time, research from Fidelity shows that the number of Gen X millionaires is growing. This story would focus on why investors need an advisor in their 30s and 40s, especially if they’re beginning to amass some real wealth. 1. Why do Gen Xers seem to be reluctant to engage an advisor when managing their investments, compared to other generations? Do they think they know it all? Are they skeptical about investing the market? Something else? 2. How can an advisor help Gen X investors manage competing goals, such as saving for retirement and saving for college for their kids? Why is that balance important? In other words, how can Gen X investors go wrong if they’re trying to work towards both goals on their own? 3. What do Gen X investors most often misunderstand about investing in general, and investing for retirement in particular? How much they’ll need to invest? How much risk they need to take to achieve their goals? Something else? 4. What advantages can working with an advisor offer, both for the average Gen X investor and that small subset of Gen X millionaires? 5. How can Gen X investors choose an advisor that’s best suited for their needs?