Why You Should Consult with a Financial Planner for Retirement Planning
You turn 65, you retire, and you live off a manageable pension for the next 15-20 years with no stress or worry about making ends meet. Believe it or not, that is how it used to be. But like everything in life the retirement process has changed throughout the years. Saving for retirement may not feel like a priority or even a possibility compared to day-to-day expenses, debt repayment, and normal saving goals, but the sooner you begin the better. It is never too late to start saving and planning for retirement, and it is never too early.
Planning for retirement can seem overwhelming, but you do not have to do it on your own. In fact, you shouldn’t try to do it on your own. A retirement advisor is an invaluable resource when it comes to your retirement plan.
What is a retirement advisor?
Generally speaking, a retirement advisor is a financial professional whose services center on helping clients save and prepare for the future. A retirement advisor can carry any number of financial designations, including Certified Financial Planner, Retirement Income Certified Professional, Chartered Financial Analyst, Registered Investment Advisor, Personal Financial Specialist.
These various titles describe the training and expertise an advisor has, as well as the types of services they offer. Typically, you must enroll in specialized education and complete an exam to achieve each of these distinctions.
Why should I use one?
Simply put, a financial advisor will have the knowledge and experience you most likely do not. Some things you can expect them to do:
Help you identify your retirement savings goals and the action steps you’ll need to take to achieve them.
Offer advice on how to maximize tax-advantaged accounts, such as a 401(k) or IRA
Help you navigate Social Security benefits and how they fit into your retirement plan
Discuss best plans for healthcare and long-term care needs
Help strategize to eliminate debt if needed for student loans, credit cards, mortgages, etc.
Pinpoint potential gaps in your retirement savings plan.
A financial planner will stay on top of tax laws and policy changes that can affect your retirement plans, which can save you from potentially costly mistakes. They can answer all your questions about your plan.
Today is ALWAYS the best day to start planning and saving for retirement. The idea can be daunting, but successful retirement doesn’t have to be stressful and doesn’t require sacrificing your lifestyle. But it does require taking steps to build a solid plan. Peter J Brunton and the Strategic Wealth Partners team alleviate stress and build a blueprint that gives you security and confidence. Get in touch and start planning today.
