I start out my workshops with a simple question. What is the most important financial decision you are going to make when preparing for retirement?
After polling the group, I share what I believe.
The most important financial decision you are going to make when preparing for retirement is “Who are you going to listen to”.
An Icon in the Financial Advisory business for many decades has been Ken Fisher. He was someone who people thought they could listen to.
This past week, Mr. Fisher made a remark which showed his true colors with respect to how he sees and treats his clients behind the scenes. I will not repeat his vulgar and sexist comments but feel free to google “Ken Fisher comments at conference”.
Preparing for retirement means re-evaluating many aspects of your life. As I discuss in my book, Road Rules For Retirement , you must create the vision for your future. What are you going to do with all that free time? How will you manage your finances? Do you really need 300 cable channels or all those cell phones lines? It is also a time to re-evaluate your advisors. Do you have the right accountant, estate attorney and financial professional. There is an old saying what got you here won’t get you there.
Most advisors do not specialize in the many issues that will impact your financial security in retirement. Retirement requires different strategies. Instead of just letting your money grow, there will be distributions to meet your needs. Not just once or twice but monthly throughout the rest of your life. Then there is required minimum distributions and the many tax changes that will occur over the next twenty to thirty years.
At TFG Wealth Management we specialize in these issues. Behind the scenes, our clients’ portfolios are being reviewed on a regular basis for these and many other concerns.But let’s get back to choosing a new financial advisor. When meeting with a new family, we believe in transparency. Not only do we share our view of their current situation but we provide direction and solutions without any commitment or obligation. The reason is simple, we care about helping families. We want everyone to have a financially secure retirement whether they select us as their advisor or not.
Unlike Mr. Fisher, who obviously sees his clients as a commodity, we want to be your partner along the journey to and through retirement.
If you know anyone who might need help with their financial future. Please don’t hesitate to refer them to us.