The Benefits Of Free Professional Help On Your Retirement Strategy

A survey from Charles Schwab, an investment service provider

, found that despite the complexity of many retirement plans and the instability of the country's retirement system, a relatively small percentage of workers are taking advantage of free expert advice for their retirement strategies. The survey found that only 10% of all participants used this free aid towards retirement planning, while almost a fourth of all surveyed didn't think they needed the advice due to inadequate funds.

Research in the Schwab survey, as well as plain logic, dictates that workers who take free professional advice and use in planning their retirement finances are at much less risk of experiencing money problems when they retire, compared to people who shun aid. Here are just some benefits you can get from using free expert advice:

You'll get bigger savings. 70% of all survey participants who've received advice usually amend their rates of deferral, resulting in savings boosts of almost 100%. On average, the jump comes from a 5-10% jump in how much a worker saves regularly.

You'll diversify your investments more effectively. Participants who haven't taken professional advice usually invest in no more than three types of assets, while workers who've listened to such advice typically have more than seven kinds of assets in their portfolios.

You'll invest better. More than 90% of all workers who've listened to and used professional advice maintained the stability of their 401K investments up to February of last year from July of the year before. They were also fully invested during the market rebound for the rest of 2009.

Your lack of trust in your employer's management of your retirement account may be what's keeping you from looking for professional advice. In this case, the cause of inaction is illogical, and the results may be catastrophic. Before getting the best paid advice on how to manage your 401K, among your other sources of retirement income, consider the benefits of free and professional investment advice.

by: Carina Smith

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