Ramit SethiRamit Sethi: The No-BS Guide to Living a Rich Life

When Do You Hire a Financial Expert?

30 Jun 2024 · 1 min

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Ramit Sethi explains that although he wrote a book on managing money and managed his finances personally for years, as his wealth and financial complexity grew he began hiring accountants, bookkeepers, and occasional financial advisors to smooth and monitor his financial system. He advises that while individuals can become wealthy handling finances themselves, at higher net worths or with business/complex finances it can be beneficial to hire financial experts.

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I have written an entire book about how to manage your own money. But here's something you might not know. As I made more money, I stopped trying to figure out every last tiny detail myself. Now I've hired accountants and bookkeepers. I've even hired a financial advisor a couple of times. And I did this because they can help me iron out tiny wrinkles in my financial system or help me monitor it in an ongoing way. The point is, you can actually become a multimillionaire, handling your finances on your own, but at certain levels of network. Or if you own your own business or have a complex financial situation, it can be beneficial to occasionally hire financial experts to help you.