The best retirement advice I can give you as someone who's been retired since 1994 is listen to yourself first... and pay less attention to what commission driven " retirement experts", have to say.
Stop and think when someone gives you advice... who is benefiting from the advice?
Is at the advisee or the adviser?
Do not get me wrong... everyone is entitled to a living. and I earned mine on straight commission (commercial real estate broker)... just make sure that you are aware of the potential for bias when a certain course of action is suggested... especially retirement advice.
Some people need financial planning and need a financial advisor... just keep both eyes open.
It is my contention that no one has your best interests at heart more than you do... no one else cares more about you and your family's welfare than you yourself.
Why surrender the responsibility for your future to someone else?
I am amazed that some people rely solely on a financial planner to make their retirement decisions.
The very best retirement advice will come from you... you after all are the one that is retiring.
Rare is the person that has not been asked for any investment advice... there is nothing wrong with the advice unless you take it blindly without doing some research on your own.
Have you ever wondered why the one product you are always presented with at almost any retirement planning session... concerns insurance?
Guess which products have the largest commissions? You guessed it, insurance.
Guess how much companies that sell these products spend on advertising? Billions...
Just watch TV... you will see "follow the green line", "what your number?", " we take a different approach to your future"... you are bombarded by advertisements from these companies.
They spend billions coming up with these marketing slogans.
Stop me if you've ever heard this from your retirement planner...
I didn't think so, do you see now that the best retirement advice has to come from you?
Make asking yourself rule number one...rule number two...see rule number one.