Honestly, it’s all down to you. The question you ought to ask yourself is how good are you at picking out the right investment portfolio? If you are thinking of a retirement plan or have one, then you agree that you need to make the most of what you can from your savings.
It makes sense to say that you will invest in lucrative funds that attract low cost. But even with this objective, you have lots of funds to choose from. You can opt to get tools to help you screen your investment options.
Another option is the less risky route. This is sticking to a conventional social security fund and settling for the low-risk investment options. Well, it is obvious that this may not be the option that will accumulate a lot for you, but it is sure and safe.
But even then, you may learn fast that this may not be fully reliable for you if you are looking at a decent retirement. That said, you are stuck with having to give it more thought, a bit more effort, and even consistent follow up.
Now, this doesn’t sound pretty if you are looking for some peace of mind without having to push yourself to learn the investment world suddenly. And yes, building and maintaining your investment portfolio is not really a heroic task. But it is no doubt taxing and a tad bit involving.
Let’s say that you would be better off skipping this option, then the question to ask is what are your alternatives? Consider that all this while, we have focused on where to invest. Remember, there is much more to consider. You need to know how much to save, track your progress towards a secure retirement, and if almost there, you need to know how to convert your savings into a steady income for the rest of your life.
Again, most individuals are able to resolve these on their own. For instance, there are tools out there that can help track if you are on good course towards your retirement. Same applies for how to come up with a plan to translate your savings into steady income.
And this is where one needs a realistic self-assessment. You need to determine if you are comfortable taking up these matters by yourself. Secondly, you need to know that you are able to address them adequately. Based on your confidence or otherwise, then take the necessary action.
It is important to be honest with yourself about this. If you settle that you are good to go, then go for it. However, if you feel you’d not be okay cruising solo-or at least for now-then it makes sense to get help.
You do not have to hire on an ongoing basis. You can seek specific advice on a matter for a fee, flat or hourly. But regardless, you want to be sure that you are getting good service at a reasonable price. More importantly, you need to work with someone that’s trustworthy and competent.