StockGoddess asks,

I think a professional can be a big help even to someone who's already saavy because you can discuss the pro's and cons of your investment options using the same language - mine is happy she doesn't have to explain every single term to me, your advisor should LOVE it that you know the market! If they don't, that's a bad sign. When I talk to mine we just short-hand it. WHERE did one poster get some outrageous 4% figure? I pay mine $120 a year in fees to manage my funds. And answer the occasional question and balance my 401K.

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The 4% isn't a fee. It's the generally accepted "safe" rate of withdrawal from a retirement portfolio if you want your money to last at least 30 years. The point I was making is that if you're paying your advisor the typical management fee of 1% of assets, he's taking 25% of your annual retirement income.

What kind of financial advisor are you getting for $120 per year? Is it something like the Financial Engines telephone assistance program offered by many employers?

http://corp.financialengines.com/helping_you/managed_service...

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