When to Hire an Advisor, and It Pays to Hug Your Job

Motley Fool Hidden Gems Investing

The Motley Fool

Business, Investing

4.3 • 3.1K Ratings

🗓️ 6 September 2025

⏱️ 21 minutes

🔗️ Recording | iTunes | RSS

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Summary

Even if you’re a do-it-yourself investor, there are times when getting professional financial help can be one of the best investments you’ll make. Robert Brokamp talks with Bankrate’s Dayana Yochim about how a financial planner can help you navigate a money-related life event, relieve financial stress, prioritize your goals, and make sure you get money stuff done. Also in this episode: -Through most of the 2000s, wage growth for job switchers was higher than for job stayers. But not now. -The number of ETFs now exceeds the number of stocks – is that good or bad news? -It’s an odd time for the housing market, as evidenced by the fact that new homes cost less than existing homes. -Tips for making the most of your 401(k) Host: Robert Brokamp Guest: Dayana Yochim Engineer: Dan Boyd Disclosure: Advertisements are sponsored content and provided for informational purposes only. The Motley Fool and its affiliates (collectively, “TMF”) do not endorse, recommend, or verify the accuracy or completeness of the statements made within advertisements. TMF is not involved in the offer, sale, or solicitation of any securities advertised herein and makes no representations regarding the suitability, or risks associated with any investment opportunity presented. Investors should conduct their own due diligence and consult with legal, tax, and financial advisors before making any investment decisions. TMF assumes no responsibility for any losses or damages arising from this advertisement. We’re committed to transparency: All personal opinions in advertisements from Fools are their own. The product advertised in this episode was loaned to TMF and was returned after a test period or the product advertised in this episode was purchased by TMF. Advertiser has paid for the sponsorship of this episode. Learn more about your ad choices. Visit ⁠⁠⁠megaphone.fm/adchoices Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Does it still pay to switch jobs and why you should hire a financial planner, even if you're usually a do-it-yourselfer?
0:11.3	You're listening to the Saturday personal finance edition of Motley Full Money.
0:22.1	I'm Robert Brokamp. This week, I speak with bank rates Deano Yocum about five reasons why you may want to get some professional help and where to get it.
0:28.6	But first, let's kick things off with last week in money.
0:31.6	You know, we've seen a lot of shifts in the job market since the pandemic.
0:34.6	The unemployment rate rose 14.8% by April of 2020, but it was down to
0:39.6	3.4% within a couple of years, and it currently sits at 4.2%. The pandemic panic was followed by the
0:45.9	Great Resignation. Across 2021 and 2022, the U.S. Bureau of Labor Statistics recorded almost 100 million
0:52.6	instances of a person switching jobs or leaving the workforce.
0:56.6	After all, leaving one job for another was the best way to boost your income. By December of 2022,
1:01.6	people who stayed with their employers got raises of 5.5% on average, whereas job switchers
1:06.7	saw their incomes increase by 7.7%. And over the past three decades or so,
1:12.1	it has usually been the case that job hoppers get rewarded with higher salaries.
1:16.2	But not so much nowadays.
1:18.8	CNBC reports that the annual wage growth for job stayers
1:21.5	is actually now slightly higher than growth for job switchers,
1:25.1	according to data from the Federal Reserve Bank of Atlanta.
1:28.4	So far this century, there have been just two other times when this has happened in early 2004
1:32.6	when the economy was still recovering from the dot-com crash of the September 11th attacks,
1:36.9	and at the tail end of the 2007-2009 Great Recession. So it could be considered a sign of job market
1:43.2	distress, though not necessarily
1:45.1	of worse times to come. That said, the Labor Department announced on Wednesday that the number
	...

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