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For the Baby Boomers and Midlifers, this October – the Month of The Harvest Moon!: The focus is on Planning for Retirement. We’re talking about finance, and lifestyle choices. Planning for those days when after all your hard work you can “harvest” the rewards – whether that means travel, time, golf, or doing just what you want with your life. Do you have to do this all on your own? When is the right time to get some objective financial advice?

Guest author Mika Hamilton shares some advice

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Should You Hire a Financial Advisor or Go It Alone

By Mika Hamilton

One of the most common questions asked by beginner investors is “Do I need to hire a financial advisor?” Before you can answer that question you need to ask yourself “How much can I improve my financial situation?” You can pay your bills on time, do your own taxes, and you may even have life insurance.

You may feel you are doing a good job handling your personal finances and do not feel you want to spend your time and money on a financial advisor. Financial advisors may not know better than you how to utilized your money in the most appropriate ways. However, they are aware of financial opportunities, tools, and how to use them. They can help you develop a solid well researched financial plan which will create more money for your family, allow you to handle life changes easier, and help protect you against disruptions in the stock market.

Financial investment professionals can help you achieve peace of mind and confirm choices, you feel are correct, in building your investment portfolio. A financial plan helps you to ensure future wealth and comfort. To obtain and maintain your desired lifestyle you must set personal and financial goals which are achievable. People who choose to invest without a financial planner often set impossible goals and get frustrated when they are not meeting them.

You must assess your current financial situation including your assets, income, liabilities, insurance, taxes, and estate. Then you must pin point your financial weaknesses and work to make those areas stronger. Once you have a financial plan you must be able to monitor it regularly. When changes occur in your family (like a new edition), career, or economy – you must adjust your financial plan to continue to meet your established goals.

Can you go it alone? Only you know the answer to that. If the above discussion has made you queasy and overwhelmed then you need to hire a financial planner to help you design and stick to an effective financial plan. However, if you already have a financial plan in motion and it is creating, for you, the financial stability you want – let it keep working for you. As alternative to hiring a financial advisor you can periodically check in with a financial advisor. Most advising companies offer consultations for a moderate price and will help you flesh out and troubleshoot your personally designed financial plan.

Visit the Global Investment Institute and signup for our free Investing For Beginners E-Course at http://www.Global-Investment-Institute.com Investment webmasters or publishers, please feel free to use this article provided this reference is included and all links remain active.

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