Why should you use a financial advisor at all? Here, CKS Summit Group reveals the top three reasons you should consider turning things over to a professional as you approach retirement.
Whether you’re doing your own investing, have significant assets or simply starting out your retirement planning journey, a retirement income advisor can be more beneficial than you first think…
1. You don’t know if you’re saving enough.
The majority of Americans don’t know how much they’ll need to retire. While nobody can predict the exact performance of your investments, a retirement planner can help calculate your retirement “number” and, based on historical average investment returns, determine if you’re on track to get there.
The first thing you should expect when you sit down with a retirement advisor is a detailed look at your complete financial picture. What are your assets? Do you have investments, real estate or other resources of value? What are your debts? Do you have a mortgage, car payments, credit cards or student loans? With the complete picture now in sight, it’s time to address…
2. Tax considerations and retirement distributions.
401(k), IRA, Social Security… Your retirement advisor should also take you through the various tax considerations of your financial picture. If you have a traditional IRA, should you consider making it a Roth? How can you minimize the taxes you will pay on your other assets?
Your retirement advisor should set up a portfolio that fits your retirement goals while helping you navigate the world of saving and investing for retirement.
3. You want an impartial third-party opinion on your money.
No matter how much you learn about investing, you’ll never be on an even playing field with Wall Street. And no matter how much you learn about investing, you’ll always be susceptible to making irrational decisions.
According to several studies, the average retail investor significantly under-performs the market, and a primary reason is that the investor tends to let emotions get the best of him or her during market crashes.
If paying a financial advisor saves you from one bad decision a year—or spots an opportunity that you overlooked—he or she may very well increase your investment returns with only limited downside market risk.
Hiring a retirement income planner can be a worthwhile investment. Whether you feel lost in your finances, you want a second opinion, or you just don’t like dealing with your money on your own, try a financial advisor like CKS Summit Group.
Our focus is to bring you fresh new ideas for your retirement income. Our cutting edge tactical portfolios help our clients achieve safe, healthy growth of their savings and preservation of their principal balance.
We design plans which are specifically structured to limit downside stock market risk. This allows us to protect our client’s assets while providing them with strategies for achieving effective tax reduction and inflation protection. Come experience the new evolution of Retirement Income Planning with CKS Summit Group. Contact us here today.