Knowing exactly how to navigate your retirement and wealth management options can be overwhelming. Deciding to use a financial advisor is a big decision, and not everyone may need a continuing relationship with a financial planner or investment advisor.

Properly managing your investments takes time, skill, and a lot of effort. Whether you're a busy executive, working parent, or caregiver, you might not have the time to invest in yourself. If you're unfamiliar with investing, it's important to understand doing the research, narrowing down your options, and making a decision takes time.

As a result, if you don't have the time or inclination to learn about investing, you might want to use a financial advisor. In this instance, time is certainly money, and delaying good financial decisions or prolonging poor ones can cost you.

It can also be difficult to keep tabs on all your investments if you have several at different institutions. A financial advisor can help you move or consolidate 401(k)s, brokerage accounts, and IRAs.

These advisors help their clients with decisions relating to wealth management and personal finance. Depending on their experience, they can put together an entire retirement savings plan along with a timeline to help you achieve your financial goals. Even if you just want a one-time consultation, you can schedule a meeting to determine if hiring a financial advisor is a smart idea for you.

Sources: Investopedia.com, Forbes.com