How To Select A Financial Advocate Who Understands Retirement Planning
Like a long-time doctor or a trusted hairdresser, a good financial advisor is a professional who can come to seem more like family. And since one of the most important roles of a financial advocate is to help a client plan for a stable retirement, how can you select an advisor who is genuinely caring, has extensive financial knowledge and who clearly understands your ideal retirement?
It’s not a decision that should be entered into lightly. Ideally, you will form a relationship with a financial expert who can help you navigate any potential pitfalls and difficult decisions that will arise on the road to retirement. Here are the key considerations that should guide you as you look for a financial advisor:
You will want an advocate with the education, background and experience to help you through any financial landscape. c You want an advisor who is up to speed on the latest offerings and pursues regular training and education to learn about new products.
Financial planners typically earn their money in one of two ways—by commission or by charging flat or hourly rates for their services. Make sure you understand the charges before you hire an advisor and feel comfortable that if your advisor works on commission he won’t try to steer you to more profitable products that might not be right for you.
It may seem like an intangible factor in a world of numbers, but because a relationship with a financial planner can last decades you may consider evaluating whether an advisor is trustworthy, honest and dependable. Interview several different candidates and see how you connect with each one. If you still need guidance, talk to friends and family about their own experiences with professionals in the field.
One emerging financial opportunity that an advisor might bring up to a client is a life settlement, which allows a senior to sell an unwanted life insurance policy for a cash payout. An informed financial advisor can help you understand the qualifications and potential benefits of a settlement. For a simple calculator to ascertain whether you might qualify, visit Magna Life Settlements today.
September 05, 2018Magna Life Settlements
Selling Your Life Insurance Policy Gives You Independence
Seniors have more options than ever in their retirement years, especially if they take care of themselves and stay healthy. Aleksander Doba paddled from New Jersey to France in a solo kayak when he was 70. Sister Madonna Buder completed an Ironman Triathlon—a 2.4-mile swim, 112-mile bike and a full marathon—at the age of 82.
But even for those Americans over 65 who aren’t inclined to spend months on the open water or train for hours a day, retirement offers plenty of opportunities for independence and adventure. Some seniors try RV travel, some take to the roads on motorcycles, others take up painting or learn to play a musical instrument. The most valuable commodity for seniors is freedom—freedom to live the senior years as they choose. And one aspect of that freedom, for those seeking financial options, might be a life settlement.
The retirement years can be viewed as a season of new opportunities, and often an unwanted life insurance policy can be transformed into a source of income. It provides a double benefit for a senior—removing the burden of insurance premiums and creating a windfall that can help pay for new experiences during the golden years. Even if a senior only needs funds to pay medical expenses, a life settlement will make them feel financially empowered and eliminate an insurance policy that wasn’t serving his or her best interests.
Another appealing option of the life settlement process is the fact that seniors can pursue a settlement without the help of a financial advisor or other advocate. By starting with two simple steps—entering information into Magna’s life settlement calculator and scheduling a consultation with a Magna specialist if the calculator indicates a settlement would be beneficial—policyholders can take charge of their finances.
With fewer family and professional obligations, seniors can thrive in their retirement season when they take charge of their time, pursue new interests and keep family ties as a priority. This season of independence and risk-raking takes many forms, but one empowering move is the investigation of a life settlement. When a life settlement is a good fit, it can enhance retirement life considerably—even for those who aren’t looking to plan a solo kayak trip from one continent to another.
Connect with Magna
Thanks for calculating your policy value with us
Let’s discuss your life settlement options and next steps. Please enter your email. We will not sell or disclose your information.