How Can I Find a Reputable Financial Advisor Specializing in Retirement Planning?

We’ve all got a lot of concerns. The economy, inflation, war, taxes… the news feels like we’re drinking from a fire hose. So, how can you feel calm amidst the storm, and optimistic about your financial future in retirement knowing you have the right help in your corner?

Finding a reputable financial advisor specializing in retirement planning is the first step.

Retirement requires real planning. It’s about being proactive when it comes to your future and not just sitting on a retirement portfolio of stocks and bonds all at risk in the stock market, hoping you can draw the right percentage, or take out enough money out to live on, but not so much that you run out of money someday because of stock market drops.

Is your financial advisor giving you a plan other than withdrawing a percentage of your portfolio? If not, get a second opinion.

Having a portfolio or a 401(k) and being told to “withdraw a percentage” is not a plan, and you really need to have a plan and a retirement strategy now.

There’s an opportunity here. Maybe you’re halfway down the path to retirement and you’re frustrated. Let’s say you’re 62 or 63 years old. You retired a month or two ago. All your money is with a big box, big name stock brokerage. And your financial advisor of the last 11 years is advising you to take out 4.5% of your money to supplement your Social Security income. That’s it. That’s all they tell you in terms of any retirement advice.

But the trouble is, that’s not really a retirement plan.

Is he or she giving you good advice, or are there other alternatives? Have you asked your financial advisor if there are any other options or retirement withdrawal strategies they would recommend? Did you actually get any other options? That is the first thing I would ask.

Second, have you yourself looked into your situation? Have you found out how much your Social Security check will be, and how much money you will get if you withdraw 4.5% from your portfolio or 401(k)? Have you matched that against your retirement budget based on your desired retirement lifestyle?

Let’s use a round number. Say $500,000; a simple number. Withdrawing 4.5% of that portfolio number is roughly $22,500 per year. Let’s just assume the market stays stagnant; that gives you 22 years. If you’re 62, if all goes well and there are no market downturns, and no fees to eat into your returns, you will have that $22,500 until you run out of money at age 84.

We all know the stock market isn’t stagnant, and historically there has been a lot of growth, but some major corrections, too. Literally anything is possible. Furthermore, people are living a lot longer than age 84. There are other options out there.

As a Certified Annuity Advisor^SM holding that designation, I know that you could potentially roll part of your retirement portfolio or 401(k) into a lifetime annuity with a contractual guarantee from an insurance company to help ensure you get that $22,500 every year no matter how long you live or what the stock market does. With today’s rates, $350,000 might get you that same $22,500 a year, with $150,000 left to play with in the stock market. (This is just a ballpark! CALL ME, DOLPH JANIS, FOR AN ACTUAL QUOTE AT (704) 919-0149).

Is that an option that your current advisor has talked to you about? Well, those are options that are available.

And if someone is thinking, well, “I hate annuities” or “I don’t trust annuities,” there are many, many different types of annuities out there with different clauses and payout rates, and different levels of protection from stock market risk. Clear Income Strategies Group is an independent firm that offers hundreds of annuity strategies from dozens of financial institutions, unlike big box brokerages that only offer their own products. We compare and explain!

We want you to have confidence and peace of mind about your retirement. It’s your future, and we feel it’s a little deceptive to only give you a withdrawal rate on your stocks and bonds portfolio as a “retirement plan.” We think it’s important that you have the full picture according to your situation.

Here’s the thing, though. Don’t procrastinate. Take action now while you have more time to plan. Schedule a no-obligation meeting with us now. You owe it to yourself to see your options. Be proactive. Have a plan.