Financial Advisor vs.Retirement Specialist: A Choice Worth Considering
Are you working with a financial advisor? Does he/she know the key questions to ask to better plan for your retirement? Does your he/she understand the tremendous differences in risk the distribution phase poses versus the accumulation phase?
Did you know that more than 90% of financial advisors only receive training on how to accumulate a nest egg and receive no training in regards to distributing a nest egg? The next time you talk to your financial advisor, ask them “What is your distribution strategy to guarantee I don’t outlive my nest egg”.
If you are near retirement, it is imperative that you consider the difference between a financial advisor and a retirement specialist. This could mean the difference between running out of money and enjoying a comfortable, financially secure retirement. Strikingly, nine out of ten retirees are still working with a financial advisor who does not specialize in retirement. They are often an accumulation phase specialists that focus on risk investments, not a retirement income specialist that focus on safe, guaranteed strategies.
A Houston Financial Advisor Who’s An Expert in Their Field
Throughout your working life—or your “accumulation phase”—you probably aspired to become an expert in your field. Regardless of your specific profession, the quality of your work and your level of expertise has directly affected the success of your career. Hopefully, the expertise you acquired in your working years has afforded you the opportunity to retire comfortably today. For your efforts, you’re entitled to peace of mind once you decide to stop working. One way to achieve that is to understand the difference between a financial advisor and an expert retirement specialist during your “retirement phase.”
Like a doctor, lawyer, or college professor, a Financial Advisor specializes in a particular area of expertise. Here’s an analogy: You’re going in for open-heart surgery. Would you rather have a cardiologist perform the operation, or your general practitioner? Although the general practitioner and the cardiologist are both in the medical profession, one specializes in correcting heart complications on a daily basis, while the other has a broad—but shallower—knowledge in treating and preventing everyday medical issues. Both are doctors, both endured endless hours of training and schooling in their respected fields, but one has a specialized skill set that greatly increases the operation’s chance of success. Perhaps the general practitioner could attempt it, but it’s risky, and the results are uncertain.
The same principle applies to your financial advisor, especially when it comes to planning for your retirement and the distribution of your nest egg. Your financial advisor is most likely a generalist who works with all types of risk investments. Although he/she may or may not have performed their duties well during your working years, those same strategies implemented will almost certainly yield disastrous results in the retirement and distribution phase.
Consulting with a qualified retirement-phase specialist, instead of a traditional financial advisor, will guarantee a dependable, predictable result. Every advisor is not created equal. Your current advisor most likely has absolutely zero understanding of the safe, guaranteed financial strategies available to you in retirement. This is because the large brokerage firms do not provide training on such options, because they are financially incentivized to sell you strategies that they directly or indirectly receive ongoing fees from. Knowing this, why would any retiree continue to seek a traditional financial advisor?
Your financial health is just as important as your medical health, so it’s crucial to choose the appropriate professional for the correct stage of life. An accumulation-phase financial advisor (aka, a traditional financial advisor) works with risky investments that subject your principal to loss and volatility. Volatility is your mortal enemy in the distribution and retirement phase. Diametrically opposed to a traditional financial advisor is the retirement specialist. Retirement specialists avoid traditional financial advisor techniques and position your nest egg for guaranteed growth, safety and lifetime income using vehicles that are specifically designed to do just that.
At Oak Harvest Financial Group, each of our retirement phase specialists is specially trained to work with the retirement and distribution phase only. Together, our specialists have more than 100 years of experience working exclusively with clients in or approaching their retirement years. Unlike your current financial advisor, a specialist retirement-phase expert will never underestimate the need for certainty in your retirement.
Various Strategies employed by Oak Harvest
Your Oak Harvest retirement-phase specialist will teach you the various strategies that will protect your assets, guarantee your income for your lifetime, provide inflation protection and assist you with innovative Long-Term Care and Life Insurance strategies which all guarantees your income goals will be met while ensuring your nest egg will be preserved for generations to come. We call this our, “Retirement Defense System”.
Why not let your expert retirement-phase specialist to get to work on providing you with guaranteed safety, growth and peace of mind in retirement? Be proactive in protecting your financial health and schedule your appointment today with an Oak Harvest Financial Group retirement-phase specialist.