Do I need a financial advisor or should I handle my retirement myself?

This is a tough question, because it is very individualized.  Our general belief at 
RetirementTimeline.com is that, overall, people benefit from using a financial 
advisor.  However, that’s not to say that you will not achieve your goals without 
one or that any advisor can help you.

The key is to interview several advisors 
to find one that you feel comfortable with, remembering that it is supposed to be 
a lifelong relationship.  In determining if you should handle it yourself, you need 
to ask yourself several questions. First, on a scale of 1 to 10 with 1 being no 
knowledge and 10 being as smart as a professional financial advisor, what is 
your knowledge of investing, the various markets and the economy?  If your 
answer is less than 7, get help.  Often I see some very smart people attempt to 
learn what they don’t know.  The problem with that is you will often find out that 
which you didn’t know when it affects you adversely.  Think about it this way - 
would you want a rookie broker or trainee just out of college, with basic text 
book knowledge, to handle your life savings? The second question you need to 
ask yourself is: can you control the emotions of managing your own money?  
There are more emotions involved with money than any other aspect of a 
person's life, including family.  If you don’t believe me, just go down to your local 
probate or family court and look at the core of most cases… money!

Honestly speaking, if you have the knowledge, can handle the emotional stress 
of a volatile market and you want to spend the time, then you are probably able 
to do an effective job on your own.  If not, the added cost of a good financial 
advisor will more than pay for itself.