Financial Planning, Retirement Issues


Retirement Planning Services

Retirement Planning ServicesHave you ever taken advantage of retirement planning service offered by a financial adviser? My adviser wants to sit down with me and go through all of my finances and assess whether I am ready for retirement or not and what steps I need to take if any to ensure that there is less risk and a higher probability that we will be comfortable in retirement. His offer certainly intrigues me and I like most people would like to know the answer to this question, “ am I ready for retirement?”.

But at the same time I am reluctant to share all of this personal information with someone who I trust but he is not family. In fact I do not even share this kind of information with my family other than in broad terms. We discuss details between my spouse and I when I can get her to listen, but we do not share with our kids even these kinds of details. It is just too personal and I am not sure that I want someone who is trying to sell me more and more products to know all of my personal financial details.

Retirement Planning Services – Too Personal

Having mentioned all of this we do have a detailed spreadsheet which I have discussed with my wife which plots all of our investments, the income they will generate and the growth they should average over the next 10 years. It also takes into account all of our income as well from pensions and investments from our savings. We are focusing on living off of our income and not touching our principal which is a pretty good strategy. We wonder about when we should begin using our principle and enjoying it, but as long as we are comfortable I would prefer to wait and not touch our principle just yet.

Develop Your Own Strategic Investment Plan

Speaking of strategy, I have developed an investment strategy and I have reviewed this with my investment adviser to get his thoughts and even guidance. We kept it to one half page to keep it manageable and we keep it at the strategic level vs. discussing specific stocks unless there is some action we want to take on this stock. We discuss this strategy twice a year and update it accordingly to ensure that it is current and reflects current conditions. The job if implementing this strategy is up to me with the help of my adviser and I do not feel that I need to go beyond that in terms of sharing financial information.

We are wondering if other readers have this same approach to investments and retirement planning services. A review is a good thing; however we just do not feel that it is appropriate to share everything with your adviser. This is a personal thing and we wonder how other people feel about this approach. If nothing else, make sure that you have an investment strategy and plan of your own. If you are not the type to do your own plan, then having someone else do it for you with all of your input might actually be a good thing.

Let us know what you think about retirement planning services.

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