Socrates, in Plato's Republic, Part 2, embarked on a thought experiment to build a "just city".
The premise behind this city is that humans rely on each other. All the way from basic survival necessities and especially when it comes to luxuries (meat, clothes, etc.).
To be able to grow this just city, Socrates demonstrated that people had to specialize. One person could not be a baker, a butcher, a seamstress, a blacksmith, and so on. To allow society to function properly, people needed to specialize in these different jobs to help everyone else thrive in this city.
For the purposes of this blog, I am stopping here with Socrates. But, if philosophy excites you at all, Socrates is fascinating (and he is the basis for the Socratic method teaching approach in law school).
Specialization
There are some folks out there who are quite self-sufficient. They grow their own food, produce their own clothing, and can provide the most basic living essentials.
However, very few people (I would even venture to say no one) are able to live without any help from a community.
When To Reach Out
I already include the disclaimer about how none of these posts are meant to be taken as advice, especially because everyone's situation is completely different.
I want to stress this even more now, though. If you would rather seek out a financial advisor at the outset, go for it. Just make sure to find the right person early on (here is a great list of questions to ask a financial advisor).
Figuring out when to reach out to a professional is tough (whether that's a doctor, counselor, lawyer, financial advisor, CPA, general contractor, or any others). From what I experience, especially in my 9 to 5 job as a criminal defense attorney, is that people tend to wait too long before reaching out.
Generally, the main reasons behind these decisions are three-fold. One, they cannot afford to (or do not want to) spend the extra money. Two, they are classic procrastinators (I see this a lot in the estate world). Or three, they did not know they needed to.
Here are some general guidelines I use to help me know when I should pay someone else for help. This list may be similar or completely different for you:
I am creating a legal document that I will use for years to come (think about a will, a lease, or an operating agreement).
I cannot put pressure on or touch a specific body part without extreme pain.
I have income coming in from multiple sources (I highly recommend a CPA for tax preparation).
I am having thoughts that I do not feel comfortable sharing with anyone in my everyday life.
I have a home improvement project that involves electrical work.
I am looking to buy/sell our primary home (I'll use a realtor every time).
Our wealth/net worth reaches a point I am uncomfortable with managing on our own.
The check engine light comes on :)
My Final Thoughts
The purpose of this article is not to show every situation when you should consider outside help. It is to make everyone aware that people specialize in things for a reason.
Time is the most valuable resource that exists. If paying someone else to save you days or weeks worth of work and stress, you should strongly consider doing so.
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