Comments on: Five Things You Don’t Want to Hear From Your Financial Planner

By: Boomers and Seniors Blog Carnival: Dementia, Cell Phones, Tax Cuts, More | Seniors For Living

Tue, 09 Jun 2009 06:03:47 +0000

[...] facts straight. Jeff Rose presents How To Stretch Out an IRA For Your Beneficiaries, along with Five Things You Don’t Want to Hear From Your Financial Planner on GoodFinancialCents.com. “If you are a boomer facing retirement, these are five things you [...]

By: Dale Carter

Dale Carter — Fri, 05 Jun 2009 17:52:12 +0000

One thing I don’t hear financial planners talk about is adding revenue streams. I left my job of 20 years after finishing an MBA and started my own business (at age of 56). Two great benefits: I love what I’m doing (no longer beating my head against the wall) and my business continues to grow. I never anticipate “retiring” now. I’m enjoying my work/life too much.
Another point for one of the commenters. I initiate a call with our financial planner every 6 months. I don’t wait for him. He agreed to this with no problem.

By: Ryan P Smith

Ryan P Smith — Tue, 19 May 2009 22:30:38 +0000

Take More Risk is an interesting item. Usually I have thought of it terms of the older you are the less risk you can afford to take. Do you see annuities as a legitimate way to mitigate risk while still providing better returns than bonds? Ryan P Smith’s last blog post..Debit Cards Take the Lead Over Credit

By: Boomers & Seniors: The Flu Scare, Life Insurance, Memories, and More | Seniors For Living

Wed, 13 May 2009 02:42:55 +0000

[...] to retire? Jeff Rose presents Five Things You Don’t Want to Hear From Your Financial Planner posted at Good Financial Cents. “If you are a boomer facing retirement, the lesson learned is [...]

By: » A Young Entrepreneur Learns About Business

» A Young Entrepreneur Learns About Business — Fri, 08 May 2009 04:24:12 +0000

[...] Good Financial Cents: What You Don’t Want To Hear From Your Financial Planner [...]

By: Jeff Rose

Jeff Rose — Tue, 21 Apr 2009 14:39:32 +0000

@ Christa

That’s an unfortunate circumstance that I hear too often. After June of 2008 when the markets started to drop, I began implementing a Dollar Cost Average strategy for those that wanted equity exposure. In the months of October and November, we put that strategy on hold until the “madness” wore off. I don’t know if it was the right strategy or not (only time will tell), but I know that it helped preserve a good chunk of principal which those clients are thankful for.

Communication is definitely the key. Make sure those investment options are suitable for your needs and goals and you FULLY understand what they are invested into. Too often generalities are used explaining investments and people need to know exactly what they own. Good luck with your journey.

By: Christa

Christa — Tue, 21 Apr 2009 03:24:05 +0000

Well, perhaps you should see a financial planner every year but then again, maybe not. I have a financial planner and she advised me to buy stocks and mutual funds in September 2008 that were the worst performing stocks/funds I have ever seen. It seemed that she recommended them almost off-handedly at the time–as if anything would do. Well, now they’re all 50-60% less in value since time of purchase. Did she call me in November, December, or January to recommend selling them? No, but she called in February to schedule a semi-annual review as if all was just hunky-dory. Well, she didn’t just lose $20,000 in one of her portfolio accounts. I felt she could have AT LEAST called to check in during one of the WORST economic/market downturns in the last 50-odd years.

By: carla

carla — Sun, 19 Apr 2009 05:50:38 +0000

I'm afraid my mother is in that situation right now - even as a 40 year veteran RN with significant work related injuries that currently has her on disability. Unfortunately so many people have to work longer, but the larger question is, CAN they (physically?) carla’s last blog post..Giveaway: Skinny Skinny Organic Soap and Body Oils

By: Weekly Dividend Investing Roundup - April 18, 2009 | The Dividend Guy Blog

Weekly Dividend Investing Roundup - April 18, 2009 | The Dividend Guy Blog — Sat, 18 Apr 2009 11:01:22 +0000

[...] What you don’t want to hear from a financial planner [...]

By: Kyle

Kyle — Fri, 17 Apr 2009 12:31:15 +0000

I have never really thought about it before but it must be rough when someone comes into your office and says, I want to retire in 5 years I have been saving my whole life. You look at what they have and they may not be able to retire for another 15 years, then you have to explain that to them. I can imagine people aren’t very receptive to that.