Do it yourself or hire an expert.

Have you saved enough money to invest?
Do you have the time to research stocks, bonds, etc?
Do you enjoy following the stock market and discussing opportunities with friends? Not everyone does.

I do not repair my own car nor do I repair the plumbing in my home. I hire an expert. You may consider hiring an expert to manage your money if you have neither the time nor the inclination to figure out investing.

A stock broker (aka financial advisor, wealth management advisor) works for an investment firm and will build a portfolio for you, buy and sell investments and charge you commissions on your trades. Stock brokers do not work under a fiduciary agreement where they are required to put the clients' interests before their own. There may be a "conflict of interest" because what they sell you affects how they get paid.

Remember a previous $ Tip: ask "What's this going to cost me? How do you get paid?

A "fee only" advisor will charge a fee for services like preparing a financial plan or making financial recommendations. Fees might be hourly or per service provided. Since they do not sell the investments they recommend there is no conflict of interest.

A money manager or investment advisor will charge a percentage of the money they manage for you. They do not charge a commission for each "buy" or "sell". You pay an annual rate, usually paid monthly and deducted from your account. That rate may range from 1% to 3% (or more). If you give a money manager $50,000 and they charge 1.2% you would pay $600 for the year or $50 per month. It is in the interest of the money manager to make your money grow as he/she would receive more in fees over time as your money grows - e.g. 1.2% of $75,000 = $900. 1.2% of $100,000 = $1,200 . Money managers usually operate under a fiduciary rule to put their clients' interests first.

No matter which route you take, ask questions, research the individual online (SEC website) and if it sounds too good to be true - RUN!

Be $ smart.