Retirement planning advisors are not all created equal.
While there are some fantastic advisors out there who will pay close attention to your specific wants and needs, building you a personally tailored plan you can comfortably rely on, many more will try to fit you into a mold that saves them time and effort, all while billing you a pretty penny for the privilege.
Finding one of the good ones is a time-consuming process, and you can never really be certain. There's a lot of trust involved, and it can take years before the plan they sold you reveals any cracks.
This is why it's so helpful to go into any advisor call prepared.
Knowing not just what they charge but how they charge it is critical.
Some advisors charge a flat rate for their service, which is preferable as there's no outside influence clouding their judgement.
Others will have commissions baked into their payment structure, and that's where things can get dicey. You want an advisor who is always putting you and your needs first. If their incentives are misaligned, it can steer your plan in the wrong direction.
Knowing what you want from your plan is just as important.
If you're willing to pay thousands of dollars in advisor fees, chances are you're hoping they can help you understand your needs. But just like going to a barber or salon, having at least some idea of what you're hoping for can make a big difference in how happy you are with the result.
SafelySpend is an easy-to-use retirement planning tool at an incredibly affordable price that can set you up for success when looking for the right advisor.
For as little as $9 a month, you can assemble all the pieces of your retirement plan and move them around to find the arrangement that feels right for you.
You'll even get a detailed withdrawal plan you can bring to your advisor to show them what you're thinking. Not only can this help ensure your advisor's goals are aligned with yours, but it can save valuable time and money in getting up to speed together.
Before you hire an advisor, know what you want in a retirement plan. Click here to learn more and get started.