Hire an Independent Advisor for Retirement?

For years, individuals planning for retirement simply relied on do-it-yourself 401(k) plans as their way to build money for the future. However, after the recent stock market struggles and global economic crises, many individuals started to second-guess how they are saving for retirement. This is especially true for those individuals who saw thousands of dollars go down the drain when the stock market went south.

If you are one of those individuals, you should know of the alternatives. For example, Financial Engines is a company that offers independent investment advice. Their customized plans can include investments, savings and retirement.

Jeff Maggioncalda, Financial Engines’ president and CEO, believes that retirement planning has changed since the beginning of last year.

Said Maggioncalda: “The do-it-yourself 401(k) doesn’t work for most people. After the 2008 market collapse, we are ushering in a new era for the 401(k) where participants aren’t fending for themselves but have the professional retirement help they need.”

If you are no longer comfortable planning for your own retirement, there are plenty of companies that will help you along the way. As the old saying goes, it’s better to be safe than sorry.

Retirement planning help can help you relax (Image: Flickr)