The importance of hiring a financial advisor for your after retirement financial planningby Paul Pulgerino Financial Planner
Throughout our life, there is not a single day when we don't worry about our finances. From rags to riches, each one of us has our own financial issues for which we work hard day and night. But, after retirement, it is time for us to enjoy every bit of whatever is left in our life. And after retirement, worrying about finances is the last thing that we will need. So, before retirement, it is essential for all of us to hire an after retirement financial planner who can deal with our funds so that we can focus on the end days of our life.
Importance of financial planning
With the rising cost of living and falling GDP, it is essential for all of us to sort out our finances for a better and secure future. But, apart from all the financial planning, the after retirement financial planning is one of the most complicated issues. And if you plan it out beforehand, your after retirement life can be smooth. And when you hire the right financial advisor, they can help you to focus on the unexpected areas of your finances, which can rapidly improve your financial condition.
But, with the growing demand of financial advisors, there has been a significant rise in the number of financial advisors all around. And since you will be hiring the retirement planner expert for your after retirement financial planning, it is crucial for you to filter out all of them and pick the rest. And to help you better, we have listed out some of the essential traits of the right financial advisor who can provide you with the best advice.
Who to hire?
There are numerous types of financial advisors out there, but if you are looking for someone who will help you to make you after retirement life a smooth ride, then you will need to choose someone who expertizes in financial planning. A CPF (Certified Financial Planner) will be the best bet for you.
Apart from the above-said qualification, there are a few other certifications that reflect the suitability of a retirement financial advisors are CRPS (Certified Retirement Plans Specialist), RICP ( Retirement Income Certified Professional) CSC (Certified Senior Consultant), as well as CRPC (Chartered Retirement Planning Counselor).
To pick the best financial advisor out of the thousands, you will first need to identify the areas where you need advice, and then specify your goals and demand, and then you can search for a retirement planner who fits the criteria.
Private Bank vs. Independent retirement financial advisor
Now, if you are a wealthy man, lighting a Cuban cigar while sitting in your private limo, you can go for the high-net-worth private banking route. But, if you belong to a middle-class family, then a wise choice for you will be to stick to your bank.
In short, planning your after-retirement financial life shouldn't be done on your own unless you are retiring as a financial advisor.
Created on Jan 29th 2020 21:47. Viewed 539 times.