Retirement Success is No Accident.
Given the fact that you just entered DROP or are about to exit DROP, you will soon face many questions which will have a very big impact on your future. Here’s how a financial advisor can really help you.
1. Information Overload
Information can empower us to make educated decisions, but it can also overwhelm us, causing “analysis paralysis.” A quick internet search on whether to fund a Roth IRA, yielded conflicting advice such as “you need a Roth IRA” and “reasons to skip the Roth.” What’s a saver to do?
While it’s wonderful that so much information is readily available; the bad news is that having information doesn’t always equal understanding. Information is a good thing if it gets us to thoroughly think through a decision, but if it causes us to procrastinate indefinitely for fear of making the wrong decision, then what is accomplished?
Part of a financial advisor’s job is to help you sort through a variety of information sources, tune out the noise and make the best decision based on your finances and your personal goals.
2. Too Many Choices
In the U.S., there are more than 10,000 mutual funds and exchange-traded funds (ETFs) for investors to pick from. Choosing a fund from this vast universe of choices is difficult even for the more seasoned investors.
If you have the time and enjoy picking out funds, that’s one thing, but if you don’t — that’s a sign it’s time to call a professional. Financial advisors usually have lists of go-to investments that they’ve already done research and due diligence on; these investments may meet certain criteria, such as having low expenses or being consistent top performers. Helping you sort through the financial supermarket of choices is one reason to hire an advisor.
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¹Mutual Funds are sold by prospectus. Please consider the investment objectives, risks, charges, and expenses carefully before investing in Mutual Funds. The prospectus, which contains this and other information about the investment company, can be obtained directly from the Fund Company or your financial professional. Be sure to read the prospectus carefully before deciding whether to invest.
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