We’re not going to sugar coat it… setting aside time, gathering documents, and thinking about how to plan for the next 30 years of your life can feel messy and disruptive. But, knowing that you’ll have created a better future for your family makes the process well worth it. Stepping into, and feeling comfortable in a relationship is a big deal for everyone. Here are some wise words and retirement planning tips from AUWP’s professional retirement advisor John T. Davis on how to manage the planning relationship.
“To get your retirement planning organized and finished, you need to focus on the big picture (family) and have confidence in the team that you’ve hired,” said John.
Just like any relationship, there are a few other things that will set you up for success. According to John, here’s some good rules to follow.
Websites and social media give us a glimpse of how retirement planning is done. However, it’s not always the full picture. Methodology is different for each firm and person, so you’ll want to get an understanding of when and why things happen. For example, some planners provide full service planning over a period of years, while others may work on a purely transactional basis. If you have a strong sense of direction and understand whats expected, it will help you to organize things and achieve your goals.
Trust the Process
This is a big one. You aren’t going to be able to oversee every aspect of your planning, so at some point, trust in your advisor becomes important. As designers, it is our job to do our due diligence. We’re hypervigilant about details and are here to provide our knowledge and experience in order to properly design your retirement plan. If trust is built into your relationship, you can step back and know that you have a fellow type A personality keeping everything on track.
Communication is important in any relationship, including your planner. To start your project on the right foot, you’ll want to discuss your preferred method of communication. Do you prefer daily texts or emails? Is a phone call better and if so, what is the best time to reach you? It’s good to be up front with how you’d like to be contacted and how often you’d like to be updated. Face time is also important for both you and your team. Sometimes a brief face-to-face meeting can be more effective than a dozen texts or emails.
Now that you know how to manage your planning relationship, set up a time with John to get started on your retirement planning process. Or, learn more about the process by registering to attend an upcoming workshop . You can also gather more retirement planning tips and ideas by following America United Wealth Planning on Facebook.
Lets Get Started!
Great Things Start with Simple Conversations!