When you’re young and have just a few thousand dollars in your portfolio, panicking and selling everything at the worst possible moment—at the bottom—is not a big deal. You have plenty of time to recover from your mistakes over the course of your life. However, if you’re middle-aged and your portfolio is substantial—say, several years’ worth of salary—you have much less time to correct a significant error. The exact figures and age will vary for everyone, but I think that once you have around four years of accumulated income, or roughly 50 salaries, it becomes more challenging to navigate without experience, and it might be worth considering seeking professional advice.

Of course, if you’re satisfied with your investments, your money is spread across two or three ETFs, and your portfolio is regularly growing, a good advisor will probably tell you that you’re doing great and to keep up the good work. In this case, paying $200 for a consultation might feel a bit frustrating. But at least you’ll gain extra confidence in your decisions. Some people spend $5,000 on Tony Robbins seminars just to hear that they can attend Tony Robbins seminars for $5,000. Yes! (Say YES!).