More Financial Worries At Retirement
Planning for your retirement is serious business. You may need some financial advice but be careful on who you turn to for help. Retirement takes a life time to invest and save for. A sloppy financial planner can lose your retirement assets in a very short time.
Commission Or Growth?
Your adviser needs to be more concerned about your financial well being than their own. If your adviser has a stronger interest in the commission they will earn from your sale than how well your investments are performing you should find a new adviser.
Pay Now Or Pay Later
Your adviser can earn their commission in one of two ways. You either pay them a flat fee for service or they receive a commission for every transaction they make for you. Which method you choose is a personal choice; neither way is better or worse than the other. If you trust your adviser a commission per transaction can sometimes be a bit less expensive.
Investment Growth – Damage Control
Be careful if promised the world. Sometimes investing can be a gamble. If your adviser guarantees you a rate of return on a stock transaction, don’t believe them. Only a cash account such as a money market can offer somewhat of a guarantee, and usually for a short time. No financial adviser can predict the stock market with exact precision. If you understand that going in your chances of damaging your retirement plan assets will be less