You turn 50, what's the big deal? It's just a number right? Perhaps, but when you go to your mailbox and you find that retirement association envelope inviting you to join their club and enjoy discounts only reserved for, well, those in their declining years. It's a rude awakening; a kick the gut.
If this sounds familiar, don't despair, you're in good company. Thousands are waking up to this reality every day. So what do you do now? Well, for starters, make darn sure that you have a good plan for getting to retirement with a decent nest egg to be able to enjoy your golden years. For those of you that need the professional help of a retirement planner, this article is for you. Everyone else, take a look at my other article titled "The "do it yourself" retirement planner".
So what should you expect out of a retirement planner? According to Investopedia, a retirement planner is "A practicing professional who helps individuals prepare a retirement plan." That's pretty straight forward. Two certifications to look for are the Certified Financial Planner (CFP) and the Chartered Financial Analyst (CFA). The CFP certification requires a college degree, passing a 10 hr exam, 3 years of experience in the financial planning field and an extensive background check. The CFA requires a bachelors degree, passing 3 6 hr tests and 4 years of work experience.
Baron's recently published an article identifying the top financial advisors for 2010. When looking at which companies held the top spot for each of the states the outcome was as follows:
Merrill Lynch (Top position in 20 states) Morgan Stanley Smith Barney (Top position in 7 states) Wells Fargo (Top position in 6 states) UBS (Top position in 5 states) Raymond James (Top position in 2 states)
So if you want the help of a reputable retirement planner you can't go wrong with any of these companies. Alternatively, if you don't need such high-end advice then look for a local advisor with the right certifications and check as many references as you can.
By the way, don't forget to sign up for those retirement club benefits. Even if you don't want to admit you're getting old those grey hairs can get you some serious discounts!
About this Author
Steve is always on the lookout for great retirement ideas. If you have a tired old CD or a rollercoaster 401k then consider a higher rate, safe investment currently earning between 4% and 8%. Visit http://www.bestratesannuities.com and you'll get closer to meeting your retirement goals.
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