Retiring Early by Working with a Financial Planner

Written by on October 25, 2012 in Money - No comments | Print this page


The idea of early retirement often seems like an impossible dream. With necessary expenses, lower wages and an increasingly high cost of living, it is hard to create a budget that puts aside enough to invest and retire early. While it might seem hard, a financial planner can offer assistance to reach the goal.

Job of the Planner:

Working with a financial planner has several possible benefits because the individual is trained to help improve the financial situation. The planner has specific responsibilities that make it easier to overcome the challenges of saving and create a realistic plan to get the situation on the road to early retirement.

Financial planners must evaluate the current situation to determine the necessary steps to reach early retirement. Any planner will look at assets, liabilities, current income, current expenses and any other financial information that applies to the situation.

After evaluating the current financial health, planners will help create a budget that will work and will set realistic short and long-term goals. The goals will make it easier to set aside enough each month to reach the necessary figures to retire early.

Applying the Plan:

Working with a financial planner is about creating a budget, reaching financial goals and working out the best asset allocation to increase funding for the future. Applying the plan falls on the individual or couple because the planner is not able to stop bad spending habits.

The planner will offer advice and a plan that will work, but is not able to put the plan in motion. The individual or couple must take steps to ensure spending is minimized and that the minimum savings goal is met each month.

By following the advice of the planner, an individual or couple will put aside more money and make smart investment choices that allow the funds to grow at a reasonable rate. The growth of funds must exceed inflation to reach retirement goals, so it is important to diversify investments with the help of a planner.

Selecting the Best Professional:

Financial advisors are not in a cookie-cutter profession. An advisor will not always offer the same plan and suggestions as another, so it is important to select an appropriate professional with care.

The best way to select a professional is learning his or her personal morals, facts about his or her style of investing and any further information that will suggest the individual is a good fit for personal goals. The goal of early retirement requires the best professional.

Professionals should offer budgeting advice and a plan that diversifies investments while paying down debts. The only way to obtain an early retirement is eliminating the liabilities while increasing the assets, investments and savings. The best professional will use personal comfort levels in investing as a guide to allocating assets and diversifying investment portfolios.

Working with financial advisers is a necessary part of retiring early. The individual involved will look at the financial situation, offer advice and help make investment decisions for the highest possible return with a limited amount of risk.

This post is brought to you Susan Miller. When it came to planning her finances for retirement, she looks to Duncan Presant of Assante Wealth Management. Mr. Presant is a professional advisor offering years of experience in the industry to help his clients with retirement planning Kingston Ontario and surrounding areas.


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