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Why Retirees Should Hire a Financial Advisor

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Why Retirees Should Hire a Financial Advisor
In working years, we were making money and socking it away to grow, taking advice and preparing for our future. Now, without salaries, it can be easy to assume our money is a static entity, or we can handle it on our own since the inflow comes from conservative investments and retirement funds.

This isn’t so – having a good investment strategy during retirement can be a great income generator, which adds peace of mind and quality of life. Hiring an advisor is the best way to get a solid, controlled approach to retirement investing. Here’s why an advisor is right for you.

An Expert Approach

Advisors do nothing but think of investment strategies and market research all day, every day. That’s their job. Can you say the same? Probably not. So when you hire an advisor, they’re just going to know a lot more than you do. Looking at your assets, they can find the best strategy for short term and long term money management.

Another thing? Advisors have seen the market’s ebb and flow, its rise and fall, and they know exactly how to handle booms and busts. It can be easy to pull the trigger when something great or terrible happens, but an advisor can temper reactive behavior that would be executed in poor investment strategies if done independently. So this is a person you can lean on, and learn from, which is a great benefit.

Build an Ideal Portfolio

Everyone knows you need a diverse portfolio to get ideal growth. But what’s diverse? And are there plans that work better in your older years than your younger years? Many seniors like to take a more conservative approach in order to maintain the cash and not risk lose all their savings. An advisor can set you up with the right kinds of investments that will grow, but aren’t so volatile.

Let your advisor know your plans. Everyone has different growth needs, risk tolerance levels, and tax situations. An advisor knows how to keep your investments up, and your taxable income down, all the while maintaining a diverse portfolio.

Managing Moneys

You may need to invest as a way to generate income. Maybe you want to let it grow for a while first. How does all this play against your 401(k) and IRA withdrawals? Your Social Security benefits? An advisor can set up intelligent withdrawal strategies that minimize taxes and keep your money growing. They’ll set up an income plan based on all your assets and cash flows, to create an informed, balanced system.

Advisors are experts on all phases and styles of investments. While an accountant helps with taxes and IRS laws, an advisor helps with growth. Working with two really good financial experts is as important ever in your senior years. Don’t let a know-it-all attitude stand in your way of making a little money.

After Fifty Living™ was founded by Jo-Anne Lema, a genuine Boomer and member of the 50+ generation. As she likes to say, “Our enormous generation is charting new territory – we’re healthier, better educated, and more financially fit than any other generation at this time. And, as we march through history, 110 million strong – unique, new issues are developing. It’s exciting to be a part of the development and growth of This is a historic solution for a historic generation.”

Jo-Anne spent many years in the financial and operations side of higher education after having received a doctorate in education management and administration from Harvard, and an MBA from Southern New Hampshire University. Launching out on her own, though, has been the fulfillment of a life dream. Jo-Anne believes that “AfterFiftyLiving™ will delight its visitors, catalyze its partners, and will significantly benefit those who engage it.”

Residing in New England along with her husband of 35+ years, she never ceases to brag about her two children and 4 grandkids!

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