You have dreams and goals for your retirement. The challenging part is uncovering if whether your expressed goals are realistic and attainable or not.
One couple came to my office saying they wanted to retire in about five years, at age 60, and they wanted to pay for the kids’ college educations, and they wanted to pay for two daughters’ weddings. “Those are noble goals,” I told them, and I figured they must have the assets to handle them. But all they had was $50,000 in an IRA. I gave them the bad news: They would need to keep working, and they couldn’t afford those tuitions and weddings.
When people hear that, they sometimes search for somebody who tells them otherwise and will validate their opinion. And then they may enter dangerous territory. Never forget: Fearsome creatures can get you in Distribution Land. Visit www.familywealthadvisory.com for more information on how to start laying suitable plans for your future.
Your financial planner should be in the business of helping people thrive in retirement, not patting their backs as they head into peril. That’s why so much emphasis should be placed on defining goals and organizing life priorities; that’s one of the best ways for you to organize your finances.
