Investing--do it yourself or hire someone or bank/credit union???

[Ottakee]

We are at the investing step of Dave Ramsey's program.

 

While I would like to claim that I really understand all of this, I DON"T. :confused:I get the basics and know we need to save, etc. but as to exactly where to put what %, how to monitor it, etc. I don't know.

 

We will continue to put 3% (maximum match) into the program where my husband works. The rest though I want in a ROTH IRA.

 

Does anyone else just hire a financial advisor or go through the credit union, etc? We basically just want to have them automatically take x amount out of dh's check each pay period.

 

Any ideas on how to best do this? Obviously we want the best return for our money.

 

I know that DR says to just pay a flat fee, not a %, etc. but even that gets me a bit confused as to how best to pick the funds, etc.

 

Any very simple 101 information on this? We just need to do SOMETHING as our indecision will lead to us doing NOTHING.

[Hillary in KS]

Go to Dave Ramsey's website and find the link for ELPs (Endorsed Local Providers) in your area.

 

Enter your information, and they will have the Investment ELP in your area contact you.

 

We met with the ELP in NW Kansas a few years ago and loved working with him. His consultation services were free. :001_smile:

[JohannaM]

A financial adviser is probably the way to go if you are not comfortable doing it yourself. A book I found really helpful when I was looking into the question myself is The Four Pillars of Investing by William Bernstein. He does a good job of explaining the basics behind concepts like diversification and why you should do it without a lot of financial jargon.

 

Johanna

[Ottakee]

Thanks. I requested this from the library.