3 Things Your Advisor Won’t Tell You about Retirement Planning
- August 28, 2020
- Phil Cannella
- 0 Comments
Whether you’re in your twenties or getting close to retirement age, it never hurts to start planning for the future. Ask yourself, what expenses will you have? How much money will you need to be financially independent in retirement? What’s the best way to save that money? While some experts say you need around $3 million in your nest egg to have a comfortable retirement, popular financial blogger the “Financial Samurai” recently told MarketWatch that retirees today may need as much as $8 million. That might not be a realistic target for everyone, but the fact remains that the more money you can save, the better off you will be in retirement. A financial advisor can help you achieve your retirement savings goals, but only if you’re getting good advice.
At Crash Proof Retirement®, we know that most financial advisors do not have a fiduciary responsibility, which means that they can give you advice that primarily benefits the advisor, rather than the investor. If you’re dealing with a traditional financial advisor, or even some alternative financial advisors, you might not be getting the best advice for your retirement future. Here are three things your traditional advisor won’t tell you about retirement planning:
You Don’t Have to Invest in Risk
When you think of retirement planning, your mind probably jumps immediately to stock market investing. Even if you’re not investing in individual stocks, you may be interested in products like mutual funds, target date funds, and other investments that contain securities. No matter how you slice it, investing in these types of products puts your nest egg at risk. If the stock market crashes (as it usually does once every decade or so) you could end up losing everything.
What your advisor won’t tell you is that you don’t have to invest in risk. There are a variety of retirement planning products that exist outside of the traditional securities industry that can protect your nest egg from being lost in a market crash. These Crash Proof Vehicles™, exclusive to the Crash Proof Retirement® System, can protect you from market losses and we believe that every person in or near retirement can benefit from these products.
Some Advisors Put Their Interests ahead of Yours
As we mentioned earlier, most financial advisors don’t have a fiduciary responsibility, meaning it’s perfectly legal for them to put their own interests ahead of yours. Advisors count on products with high commissions as well as up-front and ongoing fees to make money. As a result, they’re more likely to recommend these products to anyone who walks into their office, while advising existing clients to hold onto their investments during times of financial stress. You may be surprised to learn that these products include all of the risky securities-based investments that we talked about in the last section.
Your advisor isn’t likely to tell you that they’re looking out for their own paychecks by advising you to put your money at risk. At Crash Proof Retirement®, our salaried design team doesn’t work on commissions or ongoing fees; as a result, they will be more than happy to recommend safe investments in the Crash Proof Retirement® System that will ensure your nest egg is protected no matter what happens to the stock market or the economy.
You Won’t Get a 20% Return on Your Investment
While it’s a fact that risky investments usually have a higher upside potential, that upside may not be as high as your advisor would lead you to believe. Some advisors like to lure in potential clients with promises of double-digit returns, sometimes reaching 20% or higher. In reality, they’re unlikely to actually deliver on those promises. Unfortunately, they use those big potential returns as a selling point, especially with investors who are getting close to retirement age and don’t have enough saved. When you consider that very few investments (even the risky ones) fail to reach that mythical 20% return, it makes safer alternative investments appear much more attractive. Of course, your current financial advisor probably won’t tell you that.
The closer you get to retirement, the less able you will be to recover from losing your nest egg to a market crash. You never know when the next crash is coming, so it makes sense to shift your assets from risk to safety as you approach retirement age. At Crash Proof Retirement®, we’ve educated more than 5,000 consumers about the safe, proprietary retirement planning products which have been specifically tailored for them by the Crash Proof Retirement® System. To find out more about our Exclusive Crash Proof Retirement® System, or to schedule a meeting with a licensed Retirement Phase Advisor call us today at 800-722-9728, or visit our website at https://www.crashproofretirement.com.
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