What Is a Financial Planner?

If you’re in your early retirement years, you probably want to enjoy your newfound freedom, whether that means golfing, fishing, traveling, volunteering, playing bridge, or simply spending more time lunching or dining with friends. If you’re in your later retirement years, you might be hampered by physical restrictions, and it may even seem to you that your main activity these days is doctor visits.

But regardless of what stage of retirement and what state of health you’re in, what you don’t want to do is worry over money, spend hours puzzling over which are the right investments for you, or face the possibility that your savings won’t last as long as you will.

That’s where a knowledgeable financial planner should enter the picture.

What is a financial planner? A financial planner is a person with a deep knowledge of two things:

• Investments of all sorts

• Your particular individual situation and needs

A financial planner will best manage your assets for you for the minimum risk, the maximum gain, and—above all—the maximum security. He or she will take the worry and stress off your shoulders by managing your asset allocation. (That’s a fancy way the industry has of saying where to invest your money.)

He or she will also be aware of how much money you get monthly or yearly from such sources as social security, pensions, and other recurring revenue, how much cash you have on hand, and what your current investments are, and by knowing your age and state of health, which need to factor into your future likely needs for cash reserves. Your lifestyle is another factor: Do you engage in many leisure activities that require sizable expenditures, or do you live a more conservative lifestyle and mainly watch TV, read, or engage in hobbies that don’t require major expenditures?

In short, your financial planner can help make the financial aspect of your retirement years worry-free, so you can enjoy life. Think of him or her as your security blanket.

Nolan Baker

President at Americas Retirement Headquarters

Over his two-decade career, Nolan has specialized in several facets of retirement planning, including the distribution of retirement savings, transitioning into retirement, asset reallocation, estate and legacy planning, and multigenerational plans.

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