MAKING SENSE OF YOUR RETIREMENT
BY AMBER MABE
We all daydream about it: lying on the beach, fishing, traveling, pleasure reading, spending extra time with family, and doing all the things we never have time to do during the busy work week. Whatever your dreams may be for retirement, Robert Cooper & Associates can help you achieve a financial plan that will work to turn your future goals into a tangible reality.
Robert Cooper & Associates has been a trusted financial service firm in Kernersville since its founding in 1993. Robert brings nearly three decades of experience as a financial consultant, and together with his associate Lou Blackman, who has been with the firm for over ten years, is committed to helping hard-working people in the Triad take the guesswork out of planning for retirement.
Making sense out of 401k’s, annuities, IRA’s and other financial vehicles can be overwhelming for the average person. Robert and his team pride themselves on operating under a fiduciary standard. This means that costs and fees will always be disclosed up front, and his team will only work in the best interest of their clients, without regard to their own profit. Robert does not believe in talking down to clients or making them feel like they are not capable of understanding the ins and outs of their financial decisions. He takes the time to explain how to manage investments in a way that is easy to understand. This empowers clients to move forward with a plan that is truly tailored for their unique circumstances, without the fear of hidden costs or risks they were not prepared to take. Any new or potential client is offered a complimentary portfolio analysis and a complimentary income plan consultation during their first meeting with Robert Cooper & Associates, even if they are already using another financial planning service. During this introductory meeting, Robert and Lou help their clients lay out their desires for retirement, understand their current investments and resources, and develop a plan that will work for each client’s individual future. “You can’t get where you want to go if you don’t know where you’re at now,” says Robert. One of the first steps you can take towards developing a solid plan for retirement is to understand the resources you already have.
Free consultations and the fiduciary standard are not the only things that set Robert Cooper & Associates apart from other financial planning firms. Robert takes a personal interest in his clients’ success, even hosting monthly “Lunch and Learn” seminars. These luncheons are typically 45 minutes long, and cover topics related to financial planning that have been suggested by clients, or that Robert feels will best help educate current and future retirees, all in a familiar and friendly atmosphere.
If you or someone you know is one of the millions of Americans preparing to retire in the next ten years, here are a few questions that Robert and his team suggest you consider asking yourself.
WHEN DO I PLAN TO RETIRE?
Many Americans are living longer and also working longer. Do you plan to retire at 65? Will you keep working into retirement age? Knowing when you will retire allows you to know how much longer you have to prepare. Those who are decades away from retirement may have time to experiment with riskier investments, while those who are closer to retirement need to be more careful about preserving their wealth and making careful financial decisions.
WHAT LIFESTYLE DO I WANT TO LIVE DURING MY RETIREMENT?
Be realistic and specific about your dreams for retirement. For example, Robert says most clients tell him they plan to travel during retirement. “I always ask them to define travel,” he says, “for some, travel means going to the beach. For others, it means living in Europe six months out of the year.” Carefully consider the way you see yourself living in retirement, calculate your projected monthly expenses, and determine whether your current financial plan will match.
WILL I HAVE ANY DEPENDENTS TO SUPPORT?
Many potential retirees find themselves caring for more than themselves during retirement. Are you married? Will your spouse continue to work, or will he or she retire at the same time that you do? Are any children or grandchildren depending upon your income for their daily needs? A retirement plan that was designed to support one person will not last very long if it is stretched thin to care for others.
WHAT RESOURCES AND INVESTMENTS DO I HAVE?
In order to manage your resources well, you first have to identify what your potential sources of income will be for your retirement. These resources can include investments like stocks and bonds, personal savings, real estate, life insurance, and more. Be sure the financial advisor you have chosen is equipped to handle all your resources, rather than specializing in only one area. Robert Cooper & Associates works with companies like Fidelity and TD Ameritrade, as well as offering information on a broad range of other investment and personal finance tools.
WILL I RUN OUT OF MONEY?
“One of the biggest fears my clients have when they come to me is whether they are going to run out of money,” Robert says. No one wants to think about the possibility of getting five or ten years into retirement only to realize that poor planning or unforeseen circumstances have drained their resources several years too early. Having a competent financial professional who truly cares about your future and not just their own profits can help ease your concerns as you walk confidently into retirement.
If you have questions like these or would like more information about planning for your financial future, set up a free consultation with Robert Cooper & Associates by calling 336.993.2012 or ask how you can get a copy of Robert’s book, Financial Focus: Five Common Mistakes Retirees Make & How to Prevent Them.
Investment advisory services offered only by duly registered individuals through AE Wealth Management, LLC (AEWM). AEWM and Robert Cooper & Associates, Inc. are not affiliated companies. Investing involves risk, including the potential loss of principal. 143030