Most people are unable to do a retirement needs analysis. Traditionally that has been a job for an actuary in a defined benefit plan or CERTIFIED FINANCIAL PLANNER™ professional. Your employees would benefit from one-on-retirement planning advice.
In a one hour consultation with an employee, we will help them assess how to recreate their income in retirement. Based on assumptions of pensions, social security, etc. the assigned advisor will provide retirement planning advice:
- How much to save?
- Save for how long?
- Target what rate of return?
Advisors providing these services will have credentials such as Chartered Retirement Planning Counselor and Certified Financial Planner. I will be responsible for the oversight and quality of these interactions.
Most people are unable to do a retirement needs analysis. Traditionally that has been a job for an actuary in a defined benefit plan or CERTIFIED FINANCIAL PLANNER™ professional. The expanse of retirement planning advice includes:
- Understanding the participant’s personal financial situation
- Learning the participant’s time horizon until retirement, investment experience, risk tolerance and investment allocation of current assets
- Understanding the participant’s needs and income requirements at retirement
- Computing a projected income need
- Determining if the current savings rate and existing resources for retirement are adequate
- Recommending an investment allocation strategy based on Modern Portfolio Theory
- Educating the participant on the risks associated with the investment strategy
- Implementing
- Following up on an annual/semi-annual basis to see that implementation steps have happened
- Providing reassurance over the bumpy ride of volatile markets
Further customizations are available to reach non-participating employees.
