Do I Need a Financial Advisor or Should I do it Myself?

Are financial advisors worth it?

Not everyone needs an ongoing relationship with a financial planner or investment advisor. But many investors who would benefit from working with a wealth advisor don’t seek professional advice or mistakenly think they don’t need it. Here are four signs that you may need a financial advisor.

1.?????Will you actually do the work?

Properly managing investments and making financial decisions that are right for you, take time.??And in this day and age, the number one thing most people are lacking is TIME.?

Are you going to find the time to research your questions, evaluate your options, and execute your decisions? Will you forgo time with the kids? Time away with friends? Time away from hobbies? ?

My point is, you may want to hire a financial advisor so that good financial decisions don’t get put off and cost you money or so that bad financial decisions don’t cost you more than they have to.

2.?????Is your strategy a blend of winging it and google? ?

OK, so you’ve found the time to research, but how do you know if you are asking the correct questions? How can you be sure you haven’t missed important information?

Hiring a financial advisor can help you to feel assured that you are making the best decision possible for your circumstances.?

3.?????Are your finances disorganized and/or you don’t know where you stand?

If your accounts (of any type) are scattered across many institutions, that can make it difficult to get a clear understanding of where you are at financially.?An advisor can help you organize your accounts, help make your strategy more cohesive and help you navigate the waters if you happen to get in to trouble.

Figuring out where you are financially, will not only give you a clear picture of where you are, but it can help determine where and how you want to move forward.?It gives you a starting point that let’s you measure your progress.?

4.?????Do you want to make a “life-changing decision”?

Having someone on your financial team can help you quantify your decisions; understand the impact this will have on other areas in your life and assess any alternative options.?After all, you may not get a second chance at this. Having a written financial plan can help you make those decisions.

This plan can help you see various “side effects” of specific routes, can help lay plans for other routes using a “what-if” scenario and will ‘stress test’ your plan to ensure you don’t run out of money.

If working with a financial planner could give you less stress and peace of mind, wouldn’t that be enough to say that it’s worth it??If so,?set up an appointment at https://calendly.com/mjhfinancial/meeting to do just that.