Financial planning is an important way to ensure that your retirement is secure. Without professional guidance, you’re leaving the most important part of your working life to chance.
Over four thousand people were surveyed by Transamerica about their retirement preparations. Over half were found to be using guess work to calculate how much they’ll need after they leave work.
There are many financial planners in the Garland, Texas region that will guide you through the complications of retirement planning. Keep on reading to find out the how and why of finding a certified financial planner.
There are many factors that need to be considered in your retirement years. The Certified Financial Planner Board of Standards recommends that you consider these things:
Long-term care planning
Geriatric health care
Monthly retirement income
Find a certified financial planner to guide you through each retirement issue. On your own it’s easy to make a mistake that could cost you the rest of your senior years, diminishing your quality of life.
When and how you draw on your retirement assets can make a large difference in your income and tax liabilities. Depending on when you begin to collect, your Social Security payments could be much higher or lower.
Use the guidance of a financial planner to avoid making costly mistakes. The planner will show you the benefits, or pitfalls of collecting on your retirement at different ages.
You’ll need to know if your retirement assets are sufficient to retire fully at the age you planned to. It’s better to know sooner rather than later if you’re short the funds you’ll need. Should you need to remain in your job longer, or find a part-time job to make ends meet, the planner will tell you.
If you feel that finding a knowledgeable financial planner is overwhelming, try these online resources:
The CFP Board of Standards has an easily searchable database that will use location, specialty, and compensation model. Enter your search parameters, and you’ll be provided a list of the retirement planning professionals near you.
Barron’s maintains a list of top Texas financial advisors near Arlington that will help you make your list.
The Better Business Bureau in Texas has a list of financial planners that are BBB-Accredited.
Do you know anyone who uses a financial planner to structure their retirement? Ask them what their experience has been. If they’re happy with the planner they employ; ask for a recommendation.
Schedule meetings with the most qualified candidates and explain what you expect. Be clear about your assets and circumstances. Consider the solutions that he can provide you, and if he can improve your post-retirement lifestyle. Carefully consider each planner and choose the one who seems most capable of guiding you to a secure and worry-free retirement.
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