Is it worth paying a financial advisor to prepare for retirement planning?

Is it worth paying a financial advisor to prepare for retirement planning?

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The road to retirement is full of twists and turns. You might think you’re on the right path, but life can throw unexpected obstacles in your way that derail even the best laid plans.

Numerous variables are at play, from how long you might live to how much you’ll receive each month from Social Security. A few wrong calculations, and you run the risk of outliving your savings. You might envision retirement as a great escape from the daily grind, but planning it can feel daunting.

Financial advisors help you tackle the many aspects of retirement planning by offering personalized recommendations based on your situation. But is hiring one of these professionals worth the cost? After all, a 1 percent fee on your total assets under management is common, while a comprehensive financial plan can easily cost $1,000 or more.

Read more at Bankrate

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