Most people are looking forward to their retirement. They are planning to make the most of their departure from the working world, perhaps by traveling, writing the next great American novel or spending quality time with family. However, saving enough to fund these goals and maintain preferred lifestyles is a large obstacle for many. Getting current monthly bills paid often takes priority over setting money aside for the future, which can threaten your ability to create the retirement you want. Kansas Financial Advisors have the experience and expertise to help you create a retirement savings plan that works.
How a Kansas Financial Advisor Can Help
In the early years of working life, many are focused on starting a family. Major expenses and lifestyle changes like marriage, purchasing a home and having or adopting a baby take priority. After that, most parents start saving for their children’s educations. By the time they start thinking about retirement, they have very little set aside. Solving this problem is challenging – but it is not impossible.
Licensed and certified financial services professionals have the in-depth knowledge needed to help you take control of your financial future. They typically begin by surveying all aspects of your financial situation, then they put together a comprehensive overview that shows where you stand today. Next, they gather information from you about your goals, your tolerance for risk, and the types of investment opportunities you might be interested in. They work to gain a clear understanding of your level of commitment, as well as which current lifestyle changes you are willing to make – if any.
With this information, skilled financial advisors design a customized financial strategy specifically for your needs. They consider your current financial obligations, along with your long-term objectives, so there is no one-size-fits-all approach. Often, recommendations include a combination of investment management and tax planning to shield you from paying an excessive amount of your retirement income to taxes.
Finding the Right Financial Services Professional
You can find a long list of Kansas Financial Advisors through basic online resources like Yellowbook.com, but this is an area where expertise matters. The quality of your advisory service is directly related to your long-term success. Choose a Certified Financial Planner that meets and maintains the standards set by the CFP Board and speak with several candidates before you make a final decision.
Ensure that the Financial Advisor you select has specialized knowledge of retirement planning, and that you are comfortable with his or her ability to provide the level of service you want when making financial decisions. If you want frequent communication and a lot of support, you may choose a different provider than you would for a more self-directed approach.
Finally, consider your options when it comes to paying a Financial Advisor. Some are commission-based, which means that they make more money when you purchase certain products or you make a certain number of transactions. Others are fee-only, which means they charge a flat rate for their services – either by the hour or as a percentage of your portfolio. Unless you have a lot of experience in the world of financial services, you may prefer a fee-only Financial Advisor who has a fiduciary duty to make decisions that only benefit you.