If you were a doctor, would you perform surgery on yourself? What is it they say about lawyers who represent themselves in court ... They have a fool for a client.
There are good reasons that professionals such as doctors and lawyers hire other doctors and lawyers to handle their personal matters, and the same goes with investing.
Larry Light, a contributor to Forbes.com, recently reviewed some of the reasons why anyone who invests needs a professional financial advisor ... primarily Expertise, Objectivity, Discipline and Time Saved.
The truth is, in terms of advice, there is nothing a professional advisor provides that a normal, intelligent person couldn't research and do themselves. In reality however, how many of us can be objective enough about our own situations and past decisions to make some of the tough decisions that may be necessary?
Anyone can research and keep on top of changing interest rates, global markets and changing legislation, but with work and personal responsibilities taking priority, who has time to do that on an ongoing basis? That's what a professional advisor does ... takes the time to understand how these various subjects may affect you and help pull everything together. Their purpose is to analyze, explain, advise and help solve financial problems.
Or as Larry says, "You’re working like a galley slave to make ends meet. Do you have the
breathing room to research what alternatives are available and then to
build a better financial structure to take care of your family?
Likely not. That’s where an advisor comes in."