Ep # 19 - Gaining Clarity: Why Retirees Switch Financial Advisors
Does this sound familiar? Your advisor tells you not to worry, that you're in a good position for retirement. However, you still feel uncertain and lost about where you stand financially. The struggle to get clear answers and guidance on retirement planning can leave you feeling anxious and overwhelmed. If this resonates with you, it's time to take a different approach to retirement planning and seek the clarity you genuinely deserve.
Dive into a candid conversation between Joe Curry and Regan Schiller, two seasoned retirement planners as they unravel the complexities of retirement planning.
What You’ll Learn in Today’s Episode
Find the perfect financial advisor to guide your retirement decisions and gain peace of mind.
Achieve clarity and confidence in your retirement planning for a secure financial future.
Learn how to handle windfalls and inheritance wisely, securing your financial legacy.
Uncover expert financial planning strategies tailored for business owners entering retirement.
Navigate the complexities of retirement finances with ease and assurance.
Ideas Worth Sharing
· If you are approaching retirement, you want that clarity. There is no reason why you should not be able to get that clarity on exactly where you stand today from a net worth perspective, how much surplus you're going to have between now and retirement. - Regan Schiller
· The intention is to give good quality information and conversations like this that are very open dialogue between you and I that hopefully the listeners can find value in. - Joe Curry
· We can't work with everybody. We know that we don't have capacity for that and no one advisor does. So that's not the intention here. The intention is to give good quality information and conversations like this that are very open dialogue between you and I that hopefully the listeners can find value in. - Joe Curry
Resources
Retirement Planning Simplified
Gaining Clarity: Why Retirees Switch Financial Advisors
We can't work with everybody. We know that we don't have capacity for that and no one advisor does. So that's not the intention here. The intention is to give good quality information and conversations like this that are very open dialogue between you and I that hopefully the listeners can find value in. - Joe Curry
In this episode, you will be able to:
Discover the secrets to choosing a reliable financial advisor for your retirement.
Gain clarity on the crucial retirement planning steps to secure your financial future.
Learn how to manage windfalls and inheritance wisely for a stress-free retirement journey.
Uncover essential financial planning strategies tailored specifically for business owners entering retirement.
Master the art of coping with financial complexities in retirement for a worry-free and fulfilling post-career life.
Importance of Retirement Planning Expertise
Expertise in retirement planning is essential for individuals nearing retirement to ensure a secure financial future. Joe and Regan highlight the significance of working with advisors specializing in retirement planning rather than solely focusing on investment management. They underscore the complexity involved in retirement planning, such as navigating CPP planning and ensuring a comprehensive approach to financial well-being.
Specialized expertise in this field enables advisors to offer tailored solutions that address individuals' unique challenges as they prepare for retirement. Regan's example of a client facing a sizable inheritance without the financial acumen to make informed decisions highlights the critical role of retirement planning expertise. By seeking professional advice, individuals can understand the implications of windfalls on their financial well-being and make sound decisions that align with their long-term goals. This emphasis on retirement planning expertise emphasizes the importance of comprehensive and strategic financial guidance for individuals approaching retirement.
Seeking Clarity in Retirement Planning
In retirement planning, seeking clarity is paramount to making informed financial decisions. Without a clear understanding of their retirement readiness, individuals may experience uncertainty and anxiety about their future.
Joe and Regan emphasize the importance of clients transitioning to new advisors who can provide detailed answers and projections to support their retirement goals. This level of clarity offers peace of mind and empowers individuals to navigate the complexities of retirement confidently.
Joe shares a story about a client who sought clarity in their financial planning after facing unclear pension plans and debt management issues. By working with a specialized retirement planning advisor, the client was able to gain a clear overview of their retirement options and make strategic decisions to secure their financial future. This anecdote underscores the transformative impact that seeking clarity in retirement planning can have on individuals approaching this crucial life stage.
Providing Peace of Mind for Spouses and Inheritance
Ensuring peace of mind for surviving spouses is crucial to financial planning, especially during challenging transitions like widowhood. Joe and Regan discuss the role of financial advisors in providing support and guidance to individuals managing finances after the passing of a spouse. By offering comprehensive solutions and a dedicated support system, advisors can alleviate the stress and uncertainty that often accompany managing finances alone in such difficult circumstances.
Regan shares stories of clients who found solace in having a dedicated advisor guide them through the complexities of inheritance and financial planning after the loss of a loved one. This emphasis on providing peace of mind for surviving spouses highlights the empathetic and supportive role that financial advisors play in helping individuals navigate emotional and financial challenges during times of transition.
The resources mentioned in this episode are:
Retirement Planning Services: If you are approaching retirement and seeking clarity on your financial situation, consider seeking a financial planner specializing in retirement planning. Look for someone who can provide comprehensive planning, answer your questions about retirement income sources, taxes, net worth, and estate planning.
Business Exit Planning: If you are a business owner planning to sell your business and retire, consider consulting with an advisor with experience helping business owners through these transitions. They can help you understand how much you need from the sale to maintain your lifestyle and provide guidance on managing the proceeds effectively.
Inheritance and Wealth Management: If you have received an inheritance or experienced a significant increase in wealth, consider working with a wealth manager to ensure you make informed decisions about managing your newfound assets. A wealth manager can help you create a plan that aligns with your financial goals and provides peace of mind for the future.
Continuity Planning: If you are separated, widowed, or concerned about the financial well-being of your spouse or family in the event of your passing, seek an advisor who can provide continuity planning. This includes ensuring that your financial affairs are well-managed and that your loved ones have the support and gu