Does your advisor really know?

Does your advisor really know?.

Does your advisor really know?

If you ran into your advisor today. Could he tell you the value of your portfolio today? Or could he tell you whether the S&P closed up or down for the week? In order to get retirement right make sure the person you trust your retirement to at least knows the basics.

Where Does Your Advisor Live?

Where Does Your Advisor Live?.

Where Does Your Advisor Live?

You may not think much about what your advisor is doing in their spare time when they are not meeting with you. Have you ever thought it might be very important. Do you know how many children they have or even if he or she is married. Does your advisor volunteer in the community, attend a local church, or is he/she involved in local politics. Also, Where does she live?

These things are important. You wouldn’t go into a 20 plus year business relationship with a stranger who may not share your core values. Does your advisor even want to interact with you outside of the office? Its your money and your life. Hooking up with the wrong advisor could cost you big at retirement. Its not enough to know where he went to college, and which country club she is a member. Your trusted advisor should be just that..trusted. The best way to be sure of that can be stated with a simple question at your meeting.

Where Do You Live?

Its a new quarter have you met with your Advisor Yet?

Its the beginning of a new quarter. Do you know how your investments are doing? Has your advisor called up to check on your needs, or to answer any questions you may have found on your statement? Do you know how many trades you had in the last quarter?

Most advisors worth their fee are itching to make contact with their clients. The number one reason is transparency. Good Advisors want to be as open as possible. They also want their clients to feel at ease, because client – advisor relationships should be key to all advisors.

Signs your advisor cares:

1) takes you to a meal either quarterly or every 6 months to touch base

2) invites you to client appreciation get togethers.

3) Calls periodically on your anniversarys .

4) Refers business or pertanant services to you.(keeping what benefits you front of mind)

5) Invites you to his/her personal social gatherings.

Its your money and your retirement. The person handling it should care about you.

 

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Your 401k is not Enough

Retirement can last for some for more than 25 years. If your average income during your working years was $60,000. If you want to retire on that same paycheck for the next 25 years. With taking into account taxes , and inflation. You will need a savings of $1,500,000. Are you on pace for that inside your 401k?