Retirement Planners...hire yourself first

Your best retirement planner is you

Ask yourself...who really cares more about me...myself or a financial planner?

Retirement planners are not evil people...they have families to raise like you and me.

Now a competent financial planner has a place in all retirement plans...just be sure to realize who is the person retiring...that's you... not him or her.

I have used financial planners in the past...just like any profession there are good ones and not so good ones...How do you choose one?

I always like to find out who the top producers were... successful people like to deal with other successful people...

Whose family do you think they put first..yours or theirs?

I know whose family I would put first...if I was a financial planner.

"Free"retirement planners schemes

Have you ever been invited to a dinner sponsored by a financial planner group?

Most boldly put in the ad...Only for individuals with a net worth of $500,000 or more. That should be clue number one.

Have they ever said that their clients are anything but very wealthy following their advice?

Ever wonder how much those dinners cost? Hint...they wouldn't do them if they did not cover their costs several times over.

If you decide to follow up and meet with them for a "portfolio review" would this happen?:

• Look at you investments and say they are just fine
• Not try and sell you one of their products
• Say you are fine doing your own financial planning
• Say the company you are with is better than their own
• Not point out the folly of not investing with them
• State that proper financial planning is not more difficult than neurosurgery

No in all counts...if you don't work with them or buy what they are selling they make zero commissions.

The status quo in any situation is poison to any financial planner. They only earn when you follow their advice.

The cycle is the same...they replace clients that they lost money for...with new clients who lost money with someone else...

What you should do

Realize that there is virtually nothing they can do you cannot do yourself. You can:

• Pick stocks or better yet no-load mutual funds yourself
• Do the research yourself
• Diversify your own portfolio
• Read the WSJ just like they do

Exceptions to this situation

Rare is the person or situation that needs a lot of professional help. The very old of course would be an exception. With software available that enables you to do your own taxes easily...make your own will and trust...why do you need to pay someone several hundred dollars or more to do what you can do yourself?

Does the name Bernie Madoff ring a bell?

Conclusion

No one loves your family like you do. Keep that in mind when you are looking for retirement planners... you already know a good one.

More information
Early retirement planning


Best retirement advice


Retirement planners... Best retirement plan



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