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Exposing Common Financial Complaints

In this episode, we tackle the common complaints and fears about financial situations during retirement. These complaints often include concerns about advisors taking too much risk, dissatisfaction with account growth, high fees, worries about Social Security not being enough to retire on, and more. We’ll discuss which concerns are well-founded, which are based on misconceptions, and offer insight on how retirees can best navigate their financial future.

Whether you’re grappling with doubts or uncertainties, Shari offers valuable guidance to help you navigate through these thoughts. Tune in to understand the significance of open communication with your advisor and gaining clarity about the services they offer. By doing so, you can ensure that you have the right professional by your side.

Here are some key takeaways from this episode:

  • If you feel your advisor is taking too much risk in your portfolio, ask yourself “compared to what?” Understand your risk tolerance and communicate with your advisor to ensure your portfolio aligns with your goals.
  • Don’t just compare your portfolio’s growth to market indices. Consider your portfolio’s benchmark and its performance against it to get a more accurate picture of your investment’s success.
  • If you find your fees are high, understand what services you are receiving for those fees. Fee structures can vary, and it’s essential to know the value you’re getting from your advisor’s services.
  • Social Security might not be enough to cover all your expenses during retirement. Proper planning and saving outside of Social Security are crucial to ensure a comfortable retirement.
  • It’s very important to understand your financial plan thoroughly. If you don’t, communicate your concerns with your advisor. A good advisor will be willing to simplify explanations and ensure you have a clear understanding!

If you’re ready to start putting off your financial planning, we make it easy to set up a time to meet and have that first appointment. Visit our online calendar here to begin.

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