When it comes to investing, the question of whether to do it yourself or hire an advisor comes up pretty often. On one hand, if you hire someone you may end up paying a lot in fees to an advisor who may get you mediocre results. On the other hand, you could mess up your portfolio by trying to do everything yourself without educating yourself first.
I interviewed financial advisor Philippe Marie-Jean-Robert of Kwajamii Financial to ask him what he suggests. He said we should all ask ourselves these three questions before making a decision:
1️⃣ Do I have the knowledge and expertise to manage my portfolio?
If yes, go to question two. If no, am I willing to learn? If still no, hire an advisor.
2️⃣ Do I have the desire to manage my portfolio?
If yes, go to question three. If no, hire an advisor.
3️⃣ Do I have the time to manage my portfolio?
If yes, try out D.I.Y. investing! If no, hire an advisor.
Here is a helpful graphic to illustrate:
All in all, either option works as long as you are confident in your decision. For both options, ensure you do your research and due diligence. If you want to learn how to invest from me, watch this playlist.