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" My husband and I are empty nesters. We&amp;#039;re doing a good job at saving and investing in our 401(k)&amp;#039;s, but we&amp;#039;d like to find a financial planner to help us get smarter about our money. Any tips? Good thinking. A professional planner can help save you from your own worst investing enemy\u2014yourself! One study suggested that the difference investment managers make is in dissuading clients from making emotional investment decisions (trading aggressively can cost investors as much as four percentage points a year). Simply having someone to prevent you from selling low and buying high could mean earning an average of, say, 7% versus only 4% through age 65. How much would that be worth? If you&amp;#039;re 30, make $60,000 a year with 2% annual raises, and sock away 10% of your pay in your 401(k), here&amp;#039;s the difference: Earning an average of 4% would net you $596,434 at age 65, while 7% would almost double your money\u2014to $1,080,273! Even those who start saving later on would benefit from this higher rate. Start at age 40, and 4% gets you $314,193, while 7% gets you $471,471. To search for a planner, as for referrals from famliy and friends whose financial circumstances are similar to yours or check out websites that list and rate planners and advisers, such as brightscope.com. As you look, focus on finding a Certified Financial Planner (CFP)\u2014a pro who has had and continues to get rigorous training\u2014whose clients pay either a flat fee or a percentage fee based on how much money she manages for them. Avoid anyone who&amp;#039;s working on commission: Her company may reward her for matching you with certain investments that may not be in your best interests. A good place to research fee-only planners is the National Association for Personal Financial Advisors (napfa.org). Other places to look for planners are the Financial Planning Association (fpanet.org) and the CFP Board (cfp.net). You can also look up a planner&amp;#039;s track record (and any complaints against him or her) at the U.S. Securities and Exchange Commission&amp;#039;s site sec.gov, brokercheck.finra.org, and your state&amp;#039;s securities regulator (nasaa.org). If your questions are few and fairly straightforward, you may be fine with someone who charges an hourly rate. If you want a wider array of services, paying an annual flat fee or percentage fee might suit you better. "^^<http://www.w3.org/2001/XMLSchema#string>
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