Get Answers to Common Questions
When Can I Retire?
Planning is crucial, whether retirement (however you define “retirement”) is just around the corner or many years away. The sooner you begin the process, the better off you are. Why? With more time, you have more options, and more ways to solve any issues that might arise. But even late planners—or recent retirees—can benefit from retirement planning.
Anything you can do today helps you secure the life you want, and reduces the chances of unpleasant surprises. For more details, watch or listen to When Can I Retire?
Am I Doing the Right Things With My Money?
As you get older, you have more to lose than when you were 25. Plus, you have fewer years to recover from disasters (you might not want to go back to work at age 78, although some people do it to stay engaged). So, are you taking the right amount of risk? It’s tricky to balance the need for growth—so you can reduce the odds of running out of money or losing purchasing power as prices rise—against a desire for security.
In addition to those big questions, there are logistical issues. For example, are you using products with hidden fees and features that work against you? And are you taking advantage of all the opportunities to manage your taxes and get the most out of your employer’s retirement plan? A thorough review can help you understand what steps to take next.
What Will Healthcare Cost in Retirement?
Once you lose employer-provided healthcare, you’re responsible for arranging coverage. If you’re 65 or older, Medicare is your primary source of coverage, but how much should you expect to actually spend each year? We can review those numbers with your health conditions in mind. Prior to age 65, individual insurance policies are the most robust option, but they’re not cheap.
Who Can Help Me Without Taking Me for a Ride?
You've got a dizzying set of options, and it's hard to know who to trust. Plus, the compensation model your financial advisor uses is critical. Some people charge commissions, meaning they only get paid when you buy the particular products they sell. Others, like fee-only financial planners, have fewer conflicts of interest and can focus on giving you the advice you need.
See my list of questions to ask a financial advisor to see what’s most important and for tips on how to evaluate an advisor.
And Many More!
Your situation is unique, so please let me know what's on your mind.
Justin Pritchard, CFP®, MBA:
- A Colorado financial advisor with 15 years of experience
- Focus on helping people plan for retirement, as well as small business retirement plans
- Approach Financial, Inc. is a fee-only firm: No commissions for financial product sales
- Transparent, up-front pricing
- A partner to help you get it done!
Online meetings: Whether or not you live near Montrose, CO, we can work together. We use secure, encrypted meeting software and other tools to share information safely.
Planning for retirement and other goals: Fee-only (commission-free) financial planning for individuals and families. Flat-fee, hourly, and asset-based payment options.
Investment advice: Advice and management services, whether you prefer to hand it over or handle it yourself. Evidence-based investing with options for socially-responsible investments.
401(k) plans and other retirement plans for small organizations: Consulting on plan design and vendor selection. Plus, education for all staff members.
2 Free Downloads for Readers!
See 6 Safe Investments, with pros and cons of these strategies. Plus, get critical big-picture Retirement Concepts Illustrated and explained in a way that helps you understand what might lay ahead. Improve your chances by checking these out today!
Time to talk to a fee-only (no commissions), fiduciary financial advisor? Start the conversation today with a no-cost introductory call. We discuss what's on your mind and identify potential solutions, and you decide what comes next.