The Benefits of Working with a Planner When Preparing for Retirement

financial planner

People often get stuck when trying to work out if they have enough money to live on in retirement and the consequence is that they avoid all the good things like holidays and spending their money for fear of making the wrong decision. This path does not lead to a happy retirement. If you need help with your retirement strategy, a financial planner may be the way to go. These professionals can help you to work out your investment strategies, retirement options and overall retirement plan.

Here are some of the benefits of hiring a retirement planner:

They will guide you

When you feel “lost” in planning for your retirement and you need direction, or you just don’t want to deal with money in retirement. When all you want is a regular income and to have someone else look after your assets, a planner can help. A planner can develop an overall investment strategy, select and place investments for you, rebalance your investments in an ongoing capacity, structure sequential withdrawals from your retirement accounts and help to arrange your finances in a way that focuses on what you need and want (your best interests).

They have the experience

Planners often have a wide, extensive knowledge of investment options, super funds, and how to manage finances. They can help with every aspect of your retirement requirements so that you don’t need to worry.

They understand the market

It’s one thing to casually watch how the market is moving up and down. It’s another thing all together to monitor and actively manage investments and investment strategies. A good planner will help you understand market trends, tap into data and insights that would be hard to do alone and help you avoid misreading market signals. They can also move money in and out of investments for you.

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They help minimize your taxes

Retirement planning is not just about investing and buying shares. There are tax implications to consider every time the tax laws change or you have a change in your personal circumstance. Taxation can consume your investment gains. Sometimes, if you’re not careful, an investment that seemed ideal may carry heavy tax costs when you sell and this can harm your overall income and wealth. Planners are aware of ways to reduce your overall tax burden, advising you of the latest relevant changes to legislation and keeping you abreast of new investments, including the tax benefits or disadvantages of your decisions. They can take care of these concerns on your behalf, ensuring that tax implications have been examined and carefully considered before purchase or sell decisions are made on investments.

They see opportunities

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When considering your particular investment needs, planners research the best opportunities. Seasoned planners have been through numerous financial and market cycles and have a good sense of what to do with your money and when. They can help you learn about—and take advantage of opportunities.

They are rational decision makers

Whenever markets dip, investors are known to panic and pull their money out of stocks for fear of having made the wrong decision. Decisions driven by fear or panic can undo months or even years of hard work. A planner can help you make rational decisions during emotional times. They keep clients’ fears and emotions in check by presenting steady, fact-based advice and reassurance when the markets get shaky or insane.

Sometimes it's cheaper

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You may be surprised to find that it is not always expensive to get good advice. You may need to shop around to find a planner who charges fair fees, but many of them offer good retirement services for a modest fee.

You get to do what you enjoy

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Sophisticated investing consumes time, knowledge, and physical resource. A planner handles this for retirees. Carrying the burden for making sure the appropriate research, planning and execution of what you need are taken care of.

They manage your portfolio for you, , can meet regularly with you and are there to answer your questions as and when they arise.

Ultimately, you’ll have the comfort of knowing that—no matter what happens—there is someone there for you.

They give you peace of mind

One of the roles a planner assumes is to lessen your financial stress. They help you simplify complicated financial options and sharpen the focus on making sure you achieve short- and long-term goals. Planners take care of the implementation and management responsibilities of your strategy so that you can focus your time and energy on enjoying retired life.

Peter Rheinberger

Peter Rheinberger

Peter Rheinberger holds a Master of Commerce in Financial Planning, a Bachelor of Education, is a member of the Financial Services Institute of Australisia and the Association of Finanical Planner in Australia. In 2002 Peter established a company designed to educate Australians about financial services and to provide advice to those who needed it. This company was called R Financial Educators and it was possibly the first financial services company in Australia to offer a money back service guarantee to clients for advice provided.

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About RSA

At Retirement Services Australia, we give you customers all the tools and guidance you need to create an effective retirement planning solution, and we help you every step of the way. We employ retirement planning specialists who offer to help create financial strategies that will suit you for life. We work with you to solve the matters we have touched on in this article. Our traditional clients are affluent and semi-affluent delegators who want to know what, why and when things need to happen but prefer to engage experts to do this work on their behalf.