Can I do it on my own?
The question is, do you need professional help in order to design and stick to an effective financial plan? To some degree, this depends on your unique situation, but most will find that they are better off seeking the information, expertise, experience, and discipline provided by a financial advisor. Making quality financial decisions requires an ample commitment to learn and research. While the Internet’s easy access to information has helped to make it feasible for individuals to independently manage their finances, the magnitude of investment skills and information that you need can be overwhelming. The financial world is filled with foreign concepts, esoteric language, legal rules, and difficult methodologies. Whether you want to develop a portfolio, plan for retirement, pay for college, or reach any other major financial goal, there are professionals who have spent their careers serving people with the same concern, and it is a good idea to take advantage of their experience. For the purpose of analogy, consider the manufacturing of televisions. Since they make so many televisions, Sony has grown to be good at it. They can make a high-quality television for a just a few hundred dollars. Consider how much it would cost you to make your own television; you might be able to do it, but it would take a huge commitment of time and money to learn the science, purchase the materials, and execute the necessary procedures. And the finished product would likely be shabby in comparison. Financial decision-making is the same. You can make financial decisions by yourself or buy advice from an experienced professional. The financial decisions of individuals are commonly costly and mediocre, and, alternatively, the appropriate financial professional will make good decisions for you at a comparatively low cost.