Warren Buffett’s advice (1) to nonprofessional investors is to “own a cross-section of businesses that in aggregate are bound to do well. A low-cost S&P 500 index fund will achieve this goal.” Warren also advises nonprofessional investors to accumulate shares of the index fund over a long time period, never sell them when share prices are low, and minimize the costs of investing. There is no need to hire a professional investment advisor.
1. Warren E. Buffett, Chairman of the Board. Letter to the shareholders of Berkshire Hathaway, Inc., 2013. Pages 19-20, 2/28/2014. http://www.berkshirehathaway.com/letters/letters.html