Get a coach3 of 8A good financial adviser can help you assess your retirement income goal and create a plan to achieve it. Along with the many clients Pamela Kiernan encounters who haven't even attempted to calculate a number, she sees others who have such a huge figure in mind that it seems out of reach."They think they have to have 5 or 6 or 10 million dollars in order to retire, yet they have (only) $150,000 to $300,000. But the mere thought of making up the shortfall is so intimidating to them … that they don't know what to do," says Kiernan, a Certified Financial Planner with Merrill Lynch in Stamford, Conn.According to Sampson, the accountability factor is a major benefit of working with a pro. "It's almost like an athlete (who) has to have a trainer," he says.More on Financial Advisers:3 ways to spy on your financial plannerCreate a news alert for "retirement" Related Articles:Cash out, roll over or leave 401(k) behindDifference between Roth 401(k), IRAPitfalls of automated retirement plansRelated Links:5 tips for 401(k) investingRebalance your portfolioFund your 401(k) or IRA first? advertisement
A good financial adviser can help you assess your retirement income goal and create a plan to achieve it. Along with the many clients Pamela Kiernan encounters who haven't even attempted to calculate a number, she sees others who have such a huge figure in mind that it seems out of reach.
"They think they have to have 5 or 6 or 10 million dollars in order to retire, yet they have (only) $150,000 to $300,000. But the mere thought of making up the shortfall is so intimidating to them … that they don't know what to do," says Kiernan, a Certified Financial Planner with Merrill Lynch in Stamford, Conn.
According to Sampson, the accountability factor is a major benefit of working with a pro. "It's almost like an athlete (who) has to have a trainer," he says.
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