Do it Yourself Project

As Jimmy Durante said, “Everybody wants to get into the act!” You can’t turn on the TV or read the paper or view a website these days without somebody offering retirement planning guidance from an expert. Most of these ads are sponsored by investment or insurance companies. They want you to invest with them but the guidance they give is superficial at best and hardly personal.

That’s not all. Recently, a web site opened up offering women an on line financial plan prepared by a CFP® for around $600. There are low cost on line “ROBO” advisors and there is even an APP that professes to do your retirement planning for a modest fee. These might be okay for younger folks to get them started in the right direction but if you are one of the many who want to retire in the next fifteen years, do you really think you should trust an APP to guide you on one of your most important life events?

Retirement planning is not just about investments. In fact, when I prepare a retirement plan, investments are the last thing I talk about. Planning for retirement is complicated and there are a lot of opportunities to make mistakes. If you screw up, it can cost you a lot of money and potentially ruin your retirement. A few years ago, I wrote an article for the Financial Planning Association that they posted it on their web site. You can read it right here.