Retirement Planner
As the baby boomers age, planners are becoming about as common as cats, the only different being that they aren’t remotely cute when they sit on your lap and purr. Some planners are fly-by-night charlatans, others have noble intentions but little business sense to back them up, and still others are simply brilliant. Finding the right planner is every bit as important as finding the right car or house, so shop around before selecting the person who will help you fulfill your hopes and dreams for your golden years. If you’re not sure what to look for in a good planner, this article suggests some positive characteristics. #1: A Good Planner Listens First And Talks Later Retirement planning is about your goals, not the goals of your planner. If the second you sit down, he or she launches into a fixed spiel, you probably haven’t found the right person. The planner should listen to what you want first and then offer suggestions on how to go about getting it. #2: A Good Planner Offers Several Options There are almost always multiple ways to achieve the same goal. If you don’t like the first option, ask for a second, a third and, if need be, a fourth. If the planner can’t answer these questions and provide several different suggestions, you need to find someone who can. #3: A Good Planner Is Honest Every day, planners must give people

information they don’t want to hear. For instance, “I’m sorry, but with your current salary, savings, and level of debt there’s no way you can retire at age 55.” Make sure you are working with a professional who will give you the bad news along with the good and not a yes man (or woman). #4: A Good Planner Doesn’t Make Promises He Or She Cannot Keep “I promise this stock will take off like a blue devil airplane.” “I promise that interest rates will continue to rise for the next twenty years.” If your planner makes statements like this, put on your running shoes. While your planner may have great hopes for the stock in question, no one knows for sure that a stock will succeed. Similarly, while it is fine to predict a trend in interest rates, we all know that even the best guesses can be wrong. #5: A Good Planner Considers Your Ideas The planner is the expert—after all, that’s why you’re seeing him or her—but you also deserve to have some input into your long range financial planning. If your suggestions are consistently ignored with no convincing explanation as to why another plan would be better, your planner obviously doesn’t respect you, and lack of respect does not bode well for a long-term business relationship. When choosing your planner, it’s important to look for one with the best traits. The suggestions made in this article can help you get started.