Do it Yourself? — Not!
I run into a lot of do it yourselfers who manage their financial affairs adequately, even capably.
But many run into issues and by the time I am called in, it is often too late or significant damage has already been done.
Recently, I’ve been brought it to work on the financial affairs of several people where the need arose unexpectedly. I had to guess the clients’ wishes and scramble for clues to piece together their financial pictures. If we’d had the opportunity to talk for even a short time, the process would have been much more successful and much easier. Other times I’ve come across mistakes where the do it yourselfer didn’t realize he was in over his head.
There’s no buzzer that goes off telling you that you have to make a significant decision or you should look into something that hadn’t occurred to you.
Most people manage their financial affairs one piece at a time without even a list of all the pieces that are required. Each piece, in and of itself may be fine, but the overall structure can collapse if even one critical piece is missing.
Personal finance is much more complex than most people realize. I encourage everyone to learn and be involved with their financial affairs. But I also strongly recommend calling in professionals before the crisis hits.