Nov 9, 2017
Learn the basic decisions you need to make when planning for
retirement from getting outside help to who to choose for that
Main Questions Asked:
- Should you get outside help when making decisions about and
planning your retirement?
- Who can you trust and who can you choose for that outside
retirement planning help?
Key Lessons Learned:
The Biggest Red Flags
That May Signal it Is Time for a New Financial
- An advisor that talks more than they listen. Your advisor
should be focused on you and your dreams and your situation.
- An advisor that promises to beat the market. An advisor who
comes across as they are smarter than everyone else or having a
special strategy that no one else has.
- If it hasn’t been explained how the advisor gets paid. There is
nothing embarrassing about being paid. Good advisors don’t dance
around how and what they get paid. Some ways can create a conflict
- If you feel pressured to buy from a broker. They are more of a
salesperson than an advisor. You want someone to help you make
decisions in your best interest.
- They can’t give you a cost estimate of a project.
- They make product recommendations to you in the very first
meeting. They already know the solution before or when they first
meet you. The key word is product. If they are leading with product
instead of a plan that is a huge red flag.
- The advisor who only talks to one spouse. The advisor
completely ignoring one spouse is a huge problem. They should be
talking to and solving the needs of both spouses. Even mediating
the differences between the financial attitudes of the two
- The advisor doesn’t know the answer to any of your questions.
If they have to look into everything you ask, that is a red flag.
They should be up to date on what is going on and what the couple
is going through.
- If the advisor is not a good saver themselves. That is a huge
red flag. There are financial advisors out there who are not good
with money. They look the part, but if they are living paycheck to
paycheck you don’t want them to advise you on your
Links To Resources Mentioned
Money Map Retirement Review
11 Financial Advisor Red Flags That You Should Never Ignore
Thank you for listening!