If a financial planner can't help you plan for retirement, then I suppose they aren't really a financial "planner." The purpose of a financial planner is to assist their clients in putting together a financial package that will best manage their assets at whatever the current life stage. Retirement planning can be a little trickier because of the vast change in income that can occur. More planning is needed at this time of life than perhaps any other.

Retirement planning should begin many years before actual retirement. The planner's task is to find ways to protect the assets of your estate while maintaining an income to support your desired lifestyle. This requires closely working together to produce a portfolio of investments and accounts that will work in your best interests now and throughout your retirement years.

The length of retirement is indeterminate. Because of this, income must be sustained on a perpetual basis to be most effective. Actuarial tables can help you make plans to use more of your assets earlier and less later if you feel that you are willing to bet your later retirement years may not happen. Many times people with limited assets will set up their retirement so that a higher income will be available during the time when their health is expected to be the best.

A planner can help guide you through many difficult decisions that must be made for your retirement to look the way you have envisioned. These professionals are paid to know what is available and what is best in a given situation. If you can trust the person, a financial planner should be a major asset in your retirement planning decisions.

Learn more about this author, Allen Teal.
Click here to send author comments or questions.

---

Add your voice

Know something about Can financial planners help me plan for retirement??
We want to hear your view. Write now!