Maggie shares her various stories of working with four different financial planners, all different types. They all taught valuable lessons on why she doesn’t need a financial planner, and not one of them did anything of value or anything that Maggie couldn’t have done on her own better.There are a few different types of financial planners:% of portfolio + fee/commission-based - The majority charge you a % of your portfolio. They also make fees/commissions on various products that they sell you from insurance to mutual funds. Fee-only financial planning - aka a fiduciary - There’s a newer trend in the last decade of fee-based that charges hourly in theory, but many more established ones charge a start-up fee, and then monthly, quarterly, or annual charge.  There are resources like NAPFA and XY Planning Network that provide more information and directories on these advisors.  Financial coaches - There’s a growing trend of financial “coaches” that often charge hourly or for a package of hours.  These we’re the least offended by, and if you need help budgeting or getting your finances in order, this could be a good investment.  You can get a lot of this content for free or for small fees if you’re willing to take a more DIY approach, but if you’re not going to and this would help you, then investing a bit in this area could be a solid investment for you.  Why we think you do not need a financial planner:They cost you a lot of money.Their fees tend to be hidden or taken out of your investments.  You often don’t receive a monthly bill, though they disclose their fees upfront and on any formal statements or tax documents.  The costs may seem small, but they add up significantly over time.You can do it just as well yourself, if not better.Financial planners are trained and incentivized to make you think this is difficult, but it’s not.They do not offer a value-add service that’s worth paying for, for the average person.Index funds are all you need - listen to our episode on getting started investing.Research shows your performance in index funds will match or beat anything actively managed.They aren’t as smart as you think they are - many of them are very “old school.”They often aren’t familiar with financial independence or early retirement.They are not trained or incentivized to optimize your taxes.They aren’t skilled in more advanced tactics like rothIRA backdoors or rothIRA conversion ladders.You have to do the hard work either way.You still have to gather all of your documents, have tons of conversations, and think about what you want and what’s important to you.They don’t care about you more than they care about themselves.You are the only one who will always put your best interests first - you can’t outsource this.Financial planners are trained and incentivized to use sales tactics on you.Any financial planner who’s tried to sell you whole life insurance should raise a big red warning flag that they are likely focused on trying to make large commissions and not what’s best for your financial situation.  You should learn about this stuff yourself.Understanding this stuff matters, and it doesn’t have to be overly complicated.You can keep it simple and learn slowly.Top 3 takeaways:Don’t be intimidated by managing your finances, and don’t fall for someone’s sales tactics that try to overcomplicate and push you into things you don’t understand and don’t need.  You can do this yourself.  It’s simple.  Check out our 2021 checklist if you’re not sure where to begin.  Read a book!Start now.  Go and do the next step for you today.  Show references:Episode #68 - 5 simple steps to investingTemplate for $3 at friends on FIRE etsy store – 2021 Financial Checklist2021 financial checklist available on friends on FIRE website for freeSix reasons why you don’t need a financial plannerMaggie’s favorite personal finance booksXY Planning Network of fee-only financial advisorsNAPFA ---Follow friends on FIRETwitterInstagramFacebookLinkedInLeave us a