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One of the most frequent bits of advice given out on E-R.org is the value and benefit of DIY investing vs. relying on a financial adviser. This article posted on MarketWatch (yes, I know it's a financial porn site) does a great job of summarizing the common concerns many have about DIY investing and offers information on why and how DIY investing isn't rocket science.
The 4 biggest fears about taking back your money back from a financial adviser — and how to conquer them
DIY misconceptions:
The 4 biggest fears about taking back your money back from a financial adviser — and how to conquer them
DIY misconceptions:
1. I lack the expertise. Unless you have a complex financial situation, managing your own money requires common sense and discipline, not a Ph.D. in economics or finance. There are many books, videos and websites available that can help educate investors.
2. I don’t know how to turn an investment plan into action. Improved technology, coupled with the proliferation of low-cost index funds, have made investing simple. Many easy-to-use financial tools are available for free.
3. I don’t have the time. A few hours spent on basic investment education is time well spent. After that, it takes very little effort to put what you learn into practice.
4. I won’t have guidance if I need it. Competent, fiduciary advisers are available for onetime or occasional guidance.
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