![]() Once you choose a retirement advisor to work with, you’ll speak with them extensively about what your current financial situation looks like, as well as what your goals are for the future. Suggest solutions for managing assets beyond retirement accounts, such as real estate or collectibles.Assist with managing the tax implications of retirement account withdrawals and insurance payouts.Help you determine where Social Security benefits fit into your overall retirement plan.Inform you about products designed to preserve supplemental retirement income, such as annuities and long-term care insurance.Guide you in choosing an asset allocation that balances risk and reward.Discuss how to best plan for healthcare expenses and long-term care needs.Help you devise a strategy for eliminating debt if you’re carrying student loans, credit card bills, a mortgage or other loans.Offer advice on how to maximize tax-advantaged accounts, such as a 401(k) or individual retirement account (IRA).Pinpoint potential gaps in your retirement savings plan.Help you identify your retirement savings goals and the action steps you’ll need to take to achieve them.But generally, a retirement advisor should do most or all of the following: The services that a retirement advisor can offer you will depend largely on their professional certifications and experience. Additionally, your advisor can act as the person who keeps your focused and motivated as you approach retirement age. They can also help prioritize, qualify and quantify your retirement objectives. In a nutshell, a retirement advisor helps you set financial retirement goals and develop a plan to reach them. The type of retirement advisor you choose largely depends on the help you need and the type of relationship you’re looking for. One is not necessarily better than the other. Retirement advisors can operate independently, or work for an advisory firm or bank. Certified retirement financial advisor (CRFA).Retirement income certified professional (RICP).Here’s a breakdown of some retirement advisor certifications you might come across: They also usually involve the advisor enrolling in specialized education courses and completing one or more exams. Retirement advisors can carry any number of financial designations. These various titles describe the training and expertise an advisor has, as well as the types of services they offer. ![]() Some areas they typically focus on include investment management in your retirement accounts, retirement income planning, insurance planning, tax management and more. A retirement advisor is a financial professional whose services center on helping clients save and prepare for their future retirement. ![]()
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