Matchless Monetary Advice for Seniors and Retirees. Discover What Works For You

Matchless Monetary Advice for Seniors and Retirees. Discover What Works For You

By ric dalberri

Now is a momentous time to gather your finances and put them in order. The ecomony,market, real estate, etc. is starting to rebound. Even though some say it isn’t, what has happened over the past months should have taught you a lesson. No one with any understanding will be doing business the way they used to. You have to save more, use less credit and make good sound financial decesions. So, how do you find and use the best financial advice ?
While you’re in the process of seeking professional financial help, remember that the decesions you make, you will have to face. Be sure to keep in mind that the overall long term goals are what you are aiming for. Any advice you receive should be just another cog in the wheel to help you decide how far you want that wheel to turn. Choose wisly before making a decesion. Don’t jump the gun. Before settling on an advisor here are a number of things you can keep in mind. These hints will help you pick a good advisor and, hopefully, dodge falling into the trap of trusting someone who isn’t qualified to give you financial advice.

1) What are the professional’s credentials. Many advisors can only sell you products they are ‘tied’ too. That means they only provide propriertory products. This interprets to only selling products of a certain company. These individuals are tied to one company. So, they really can’t offer you unbiased advice or opinions.

They are duty bound to present you which of their products are best for you, they don’t necessarily have to tell you that none of the products their company provides is a good fit for you and your goals and that XYZ company actually has something that may work better for you.

2. How does the financial planner make their funds? It’s almost always in the form of a incentive or fees. That means if they don’t sell you something, they don’t make any money. Make sure you realize what the total fees and commissions will come to. Sometimes they will receive multiple fees for various transactions, that can really add up…For you.

3. Fiduciary. This funny sounding word is very valuable to your financial health. A planner who accepts fiduciary responsibility means they are compelled under the law to act in your best interests. Anyone who doesn’t accept this responsibility is just saying that they will try to act in a way that doesn’t hurt you.

4) Your advisor should help you with every aspect of your financial goals. That’s why you are ‘prodiled’ to be sure when you sign you understand all that transpired. Profiling would be sure you have enought insurance, wills, IRA’s, etc. This will ensure you have all the elements needed for excellent financail health.When searching for the best financial advice it’s of great consequence to keep the above list in mind. The total process can seem overwhelming and while it’s important to solicit the help of a professional it’s even more valuable to never forget it’s your money and your future. You need to be an attentive co-pilot on this little journey!

You want the best financial advice. Do what’s best for you & your family. Look for a CPA (certified public accountant), CFP (certified financial planner) or a tax attorney.