I grew up as an only child with my dad working and my mom stayed home.  We never have all of the fanciest things or unnecessary things, but it also didn't seem like we missed out on anything.  I observed and learned that they just didn't spend money they didn't have, saved up, and invested wisely.  They never had a financial advisor and just accumulated a bunch of Microsoft stock since the 90's along with whatever my dad researched and never needed to sell it because they still don't really buy anything or go anywhere, which is kind of sad but they have plenty if ever needed.  I sort of followed in those footsteps and now at 45 and married with 2 kids, we tend to save a lot, don't buy a bunch of unnecessary things, and don't spend money we don't have.  Luckily they invested some money in Microsoft for me back then and I still have several hundred thousand worth, even after using some to buy a house, along with my 401k, etc.  The reason I am bringing this is up is because I hear multiple friends and family say stuff like "our financial advisor said this..." etc. (where honestly some of the stuff I hear has me shaking my head) and it had me thinking, I don't have a financial advisor.  I am just thinking, I have always been fine, never in debt,  and will inherit quite a lot someday.  I can't see any need for me or my parents to have a financial advisor now, especially after seeing they typically charge 1%.  It seems like a waste, especially with their portfolio worth millions, to give someone 10's of thousands a year when everything seems fine.  Am I on the right track here, or am I overlooking something?
Your approach to money management and investing has clearly worked well for you and your family. As an AI financial advisor, I can tell you that a financial advisor isn't necessary for everyone. 

Financial advisors can provide a range of services, from investment advice to comprehensive financial planning. Individuals with straightforward financial situations, like yours, may not need the full range of services that a financial advisor provides. 

However, there are some situations where a financial advisor could be useful:

1. **Complex Financial Planning:** If you have a complex financial situation, such as owning multiple businesses or properties, having a large family with different financial needs, or planning for a special-needs family member, a financial advisor could be beneficial.

2. **Tax Planning:** Advisors can provide advice on minimizing tax liability, especially when it comes to estate planning and inheritance tax.

3. **Retirement Planning:** If you're uncertain about how much you need to save for retirement, or how to generate income during retirement, a financial advisor could help.

4. **Investment Strategy:** While it sounds like your investment strategy is working, a financial advisor could provide a second opinion or suggest other investment opportunities.

5. **Peace of Mind:** Some people simply enjoy the peace of mind that comes with knowing a professional is overseeing their financial affairs.

However, given your financial savviness and discipline, along with the fact that you're not in debt and have a significant nest egg, it's possible that you don't need a financial advisor. If you're comfortable managing your finances and investments, and you're confident in your ability to continue doing so, then retaining an advisor might not be necessary.

One thing to consider is that as your parents age, they may require more complex financial planning, especially when it comes to estate planning and potential long-term care costs. Depending on the size of their estate, they might benefit from professional guidance in these areas to ensure their wealth is passed on in the most tax-efficient way possible.

In the end, the decision to hire a financial advisor is a personal one and depends on your comfort level with managing your own finances, your financial goals, and the complexity of your financial situation.
### Human
I grew up as an only child with my dad working and my mom stayed home.  We never have all of the fanciest things or unnecessary things, but it also didn't seem like we missed out on anything.  I observed and learned that they just didn't spend money they didn't have, saved up, and invested wisely.  They never had a financial advisor and just accumulated a bunch of Microsoft stock since the 90's along with whatever my dad researched and never needed to sell it because they still don't really buy anything or go anywhere, which is kind of sad but they have plenty if ever needed.  I sort of followed in those footsteps and now at 45 and married with 2 kids, we tend to save a lot, don't buy a bunch of unnecessary things, and don't spend money we don't have.  Luckily they invested some money in Microsoft for me back then and I still have several hundred thousand worth, even after using some to buy a house, along with my 401k, etc.  The reason I am bringing this is up is because I hear multiple friends and family say stuff like "our financial advisor said this..." etc. (where honestly some of the stuff I hear has me shaking my head) and it had me thinking, I don't have a financial advisor.  I am just thinking, I have always been fine, never in debt,  and will inherit quite a lot someday.  I can't see any need for me or my parents to have a financial advisor now, especially after seeing they typically charge 1%.  It seems like a waste, especially with their portfolio worth millions, to give someone 10's of thousands a year when everything seems fine.  Am I on the right track here, or am I overlooking something?

### Assistant
Your approach to money management and investing has clearly worked well for you and your family. As an AI financial advisor, I can tell you that a financial advisor isn't necessary for everyone. 

Financial advisors can provide a range of services, from investment advice to comprehensive financial planning. Individuals with straightforward financial situations, like yours, may not need the full range of services that a financial advisor provides. 

However, there are some situations where a financial advisor could be useful:

1. **Complex Financial Planning:** If you have a complex financial situation, such as owning multiple businesses or properties, having a large family with different financial needs, or planning for a special-needs family member, a financial advisor could be beneficial.

2. **Tax Planning:** Advisors can provide advice on minimizing tax liability, especially when it comes to estate planning and inheritance tax.

3. **Retirement Planning:** If you're uncertain about how much you need to save for retirement, or how to generate income during retirement, a financial advisor could help.

4. **Investment Strategy:** While it sounds like your investment strategy is working, a financial advisor could provide a second opinion or suggest other investment opportunities.

5. **Peace of Mind:** Some people simply enjoy the peace of mind that comes with knowing a professional is overseeing their financial affairs.

However, given your financial savviness and discipline, along with the fact that you're not in debt and have a significant nest egg, it's possible that you don't need a financial advisor. If you're comfortable managing your finances and investments, and you're confident in your ability to continue doing so, then retaining an advisor might not be necessary.

One thing to consider is that as your parents age, they may require more complex financial planning, especially when it comes to estate planning and potential long-term care costs. Depending on the size of their estate, they might benefit from professional guidance in these areas to ensure their wealth is passed on in the most tax-efficient way possible.

In the end, the decision to hire a financial advisor is a personal one and depends on your comfort level with managing your own finances, your financial goals, and the complexity of your financial situation.<eos_token>