5 Retirement Planning Questions to Ask an Advisor

Older couple reviewing retirement plan.

Planning for retirement can feel overwhelming when you’re going at it alone. Attending 401k seminars, provided by your employer, is a great start to learning about how to contribute to your plan, but knowing “how much” you’ll need to save each year, and how to adjust your investments as you age, requires professional financial guidance. 

At Focus Financial, our experienced financial advisors are committed to helping individuals plan and save for the retirement lifestyle they desire. Whether you’re just starting out in your career, or you are nearing retirement age, we have the products, tools, and services to keep your financial planning on track.  

5 Questions to Ask a Financial Advisor about Retirement

When you meet with an advisor, there are a few retirement questions you’ll want to ask first to ensure you both are on the same page with your future goals.

1) How Much Do I Need to Save to Reach My Dream Retirement?

Before your advisor can help you plan for retirement, you’ll want to discuss your goals for the future. This includes at what age you wish to retire; where you plan to live; whether you wish to travel, own a vacation home, or start a business after you retire; etc. 

Knowing your goals upfront will help you and your advisor create a financial strategy that allows you to work toward your dream retirement. 

2) How Long Will the Money in My Retirement Last? 

Life can throw you curveballs, so it’s best to plan for the unexpected, especially during your retirement years. You may require a costly medical treatment down the road, for example, which can set your budget back. When you work with an advisor, however, you can plan for the unknown and feel confident that you’ll be covered in the future. 

3) How Will My Spouse’s Income Affect Our Retirement?

If you’re married and your spouse is also contributing to a 401k, Roth IRA, or pension, it’s important to understand how this additional fund will impact your retirement’s future. This can also include other marital assets that you both possess, including a car, real estate property, business, etc. 

4) What If I Owe Personal Debt or Student Loan Debt?

While creating your financial plan, you’ll want to be honest and upfront with your advisor about any debt you owe. Your advisor can help you work towards paying down any loans while saving for your future.  

5) How Aggressive Should My Investments Be?

As you age, you’ll experience certain life events that may include getting married, having children, buying a home, or increases in compensation. As these events take place, you’ll need to reprioritize your spending and investment strategy. 

With help from a professional advisor, you can feel confident that your financial plan is always tailored to your individual goals and current situation. 

Still Have Retirement Questions?

We’re here to help! Remember, you only get to retire once, so make sure it’s the lifestyle you deserve. To get started, find an advisor near you to schedule a consultation. 

Our team will meet with you to discuss your retirement goals and help you plan for a prosperous future. 

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