May 17, 2019

15 Retirement Fatal Mistakes & How to Avoid Them

Mistake 4: Not Meeting With a Financial Planner for Retirement Help

Many people are ill-prepared for retirement but don’t want to take the time to meet with a financial advisor to find out how to improve their financial readiness.

Why This Is a Mistake

Engaging the help of a qualified, fee-only financial advisor for retirement advice can help both pre-retirees and those already retired stay on track.

You only get one shot at retirement, so don’t let your pride or a reluctance to spend the money on an advisor deter you from getting the help you need.

Meet with a financial planning expert to get a detached third-party view of your situation. He or she can help you design a retirement income strategy based on your anticipated resources, including Social Security, any pensions you might have, your tax-deferred retirement accounts and more.

If you don’t know exactly what your life will look like in retirement, it’s best to think through several different scenarios, such as keeping your home or relocating, and figure out with your advisor how to approach your finances no matter what path you end up taking.

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