Rather than poring over companies' prospectuses or comparing the performance of dozens of mutual funds versus the three- and five-year Lipper average, people who hire financial planners to manage their investments spend more time boning up on other more practical, short-term financial matters while also keeping a close on eye on their long-term objectives.

According to a new survey of middle-class Americans, 41% of investors who hire a financial planner said they spend a significant amount of time monitoring their personal stock investments compared to only 23% who are investing on their own. In other words, people who are paying people to pick the stocks and funds their retirements are dependents upon make almost twice as much of an effort to track their investments' daily or monthly performance.

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