5 Ways a Financial Advisor Can Transform Your Retirement”
Many people out there are not sure what a financial advisor can do for them. A lot of people assume that it is just helping them invest in the stock market and saving for retirement. That is only 1 piece of your financial puzzle. Here are 5 different areas your advisor should be helping you with.
Education. First and foremost, your advisor should be educating you. They should help you set priorities and be teaching you the different things you should know about your financial situation. i.e Required minimum distributions, good debt vs. bad debt, college funding challenges, final expenses, spousal continuations etc…
Debt. One of the biggest hindrances to retirement is debt. They should be helping you budget, and also help you find the money so you are not in the hole every month. They should be showing you how to become debt-free so you can retire on time.
Investing. They should be helping you invest wisely, to enable you to reach the retirement of your dreams. They should help you choose the right vehicles to maximize your growth while minimizing or eliminating risk.
Retirement Income. Your advisor should be helping you maximize your retirement income with safety and guarantees. Your retirement income is your livelihood, it should not be left to chance.
They should help plan your social security, pensions, and withdrawal amounts to maximize your income while minimizing taxes. They should also be helping you take the proper steps, so you are sure to never run out of income and survive inflation.
Legacy Planning. We never know when our time to go is, but that does not mean it is impossible to plan for it. Your advisor should help craft a plan that will fulfill the legacy you want to leave. Whether that is donating to charity, sending your kids or grandkids to college, giving financial support to your children, or making sure your spouse and family will be able to be financially secure after your passing. They should help craft a plan that meets your needs.
These five areas are what true financial advising is all about — not just growing a portfolio, but transforming every aspect of your retirement so you can live it with confidence. As Loren Dutton (The Father of Financial Planning) put it, “Helping average people learn how to spend, save, invest, insure and plan wisely for the future, to achieve financial independence.” That transformation starts with one conversation. Whether you already have an advisor or not, if any of these areas resonate with you, give me a call today — there is no fee for working in conjunction with your existing advisor.
“Give me six hours to chop down a tree and I will spend the
first four sharpening the axe.” ~ Abraham Lincoln