The View From The Pinnacle
Advising involves investing, but it’s so much more than that. Sean Lee and guest host Chris Cordova explain why real financial advising is problem-solving.
Thing’s You’ll Learn Along Today’s Journey
[00:59] – Chris explains the RICP advising designation. He examines why it’s helpful to our clients at Elevated Retirement Group.
[5:00] – Financial planning transcends picking investments. It quickly becomes an adventure into the realm of problem-solving. Depending on a client’s unique needs, there’s always a solution to be found, but there’s so much to consider aside from the dollars and cents.
[6:24] – A forced early retirement is a great example of the importance of problem-solving. In this scenario, a client has usually been blindsided by the prospect of an imminent retirement. While they might have begun the planning process, they might not have counted on retirement coming so quickly, and suddenly, their needs have changed.
[9:00] – Tax planning is essential, and you need to get creative. Learn the rules involved with IRA withdrawals and how your withdrawals will affect your tax burden.
[12:39] – Sometimes, our clients hate their jobs. In this case, we want to figure out how to help them retire or find another job as soon as possible. To do this, we need to determine how much income they’ll need in retirement. We also need to assess what their goals are for retirement.
[18:33] – So many advisors keep their clients in the dark. It’s one thing for your advisor to give your retirement plan a blanket stamp of approval. It’s quite another for them to build you a comprehensive retirement plan and involve you in the process along the way. Your advisor should describe your plan to you in a way that’s easy to understand, and your plan should be unique to your situation.
Looking Back From The Mountaintop
Resources From Today’s Podcast
Sean P. Lee – Contact