A Comprehensive Financial Guide by Todd Elliot
Retirement Done Right.
If you decide to look for a financial professional, what should you look for? You want to know who you’re dealing with, so ask lots of questions.
- Ask questions about their business and qualifications. Do they have a sales quota? Are they a registered investment advisor, or just insurance licensed?
- Ask about their fees. What are they? Are they fixed or commission-based? What will you get for the money you pay? (I’ll come back to compensation in just a moment.)?
- Ask about how they communicate with clients. By call? Text? Emails? How often do they communicate with clients?
- Ask about their investment philosophies. Are they fine with making risky investments? Or do they err on the side of caution?
The more you ask, the more you know.
Keep an eye out for red flags. If an advisor doesn’t give you straight answers to your questions, that’s a bad sign. If he or she says or does anything that makes you feel uncomfortable, go with your gut—it won’t usually fail you.
Forming a relationship with a financial advisor is similar to starting a romantic relationship in at least one respect: If it doesn’t feel right, don’t go for it. Watch out for the warning signs.
Retirement is something people look forward to for their entire life. Life goes by fast. Too fast. Before you know it, you’re nearing retirement age.
As you plan, it’s important to ask yourself, “What do I want to do during retirement? What do I hope to accomplish? How can I prepare now?” The sooner you start preparing, the better your retirement will be. If you start late, don’t fret. Your retirement won’t be miserable. But, you can’t waste any time getting started with a plan.
No matter what, whether your retirement is near or far, you can make it there with confidence if you plan diligently. Be proactive, not reactive. Keep your eye on the prize. You’ll be there before you know it!