In 60 Seconds

Is consulting a financial advisor something everyone should do?

Not if you're consulting them for stock picking. That "I'm going to pick the right stock and outperform this market and that market." Typically, it just doesn't work. There are very few financial advisors who consistently outperform the market — as in very, very few. Yes, however, if you're looking for good asset allocation, rebalancing, setting a plan, putting it in place. And the great news is those things are available today, through technology, at ever-lower minimums than were available before. And they can keep you, quite honestly, by putting you on a plan, can keep you from you trying to do the stock picking and harm yourself.

Which brings me to the next question...

Should I invest in Facebook or Amazon?

Is investing in them, in big tech, still a good idea? Yes, but only as part of a diversified investing plan.