Best retirement advice...ask yourself first

The best retirement advice I could give you, as someone who's been retired for 17 years... Is listen to yourself first and pay less attention to what the "retirement pros" might be telling you.

At the risk of being cynical when someone gives you advice step back and think about who is benefiting from this advice... Is it you the advicee or the advisor?

Now do not get me wrong... Everyone is entitled to make a living, but make sure you are aware of the potential for bias your advisor might have when they suggest a certain course of action.

Furthermore, I am not suggesting that the retirement planning advice you receive from financial planners is not of any value... It may very will be of great value to you... But look at it with both eyes open.

You care more about you than anyone else

I contend that you are the source of the best retirement advice for you... Because only you truly have your own best interests at heart... No one else can care more about you and your family then you do.

Do not abdicate this responsibility to anyone but yourself...it amazes me when people will rely solely on others for advice on their own retirement.

Your financial planner

Most folks have someone they go to for investment advice as it pertains to their retirement. Nothing wrong with a little advice as long as you are aware of who is benefiting the most from this advice.

Do you ever wonder why the one type of product financial planners push the most is insurance?

Whether it be whole life or disability insurance these products typically have the largest commissions for the planner... If you really think you need these products don't worry about how much the salesman is making off of you...go ahead and buy the insurance.

Just be aware that your planner is much more likely to take you and yours out to dinner to discuss an insurance product, then he would be to suggest a few no load mutual funds for you to invest in.

Retirement decisions should not be made solely on finances

Because financial planners have a vested interest in you remaining a client rather than you retiring...you are going to have to apply the common sense.

You will never hear a planner, remind you that you are getting older and less and less likely to be able to do the things that you enjoy.

If your idea of retirement is golf seven days a week or strenuous hiking... The longer you wait the less able you will be to reach your retirement goals...you are going to have to be the one that realizes the older you become your physical skills are diminishing.

Studies have shown that your muscle mass decreases 1% for every year over 40... You can do the math yourself

Conclusion

You are the source of the best retirement advice for you... Do not let others make one of life's most important decisions for you... You are more than capable of doing it yourself.

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