Whether retirement still feels far away or it's coming up just around the corner, you are likely interested in making sure that your golden years are financially secure and that you have a large enough nest egg to make it through the twilight of your life. For this reason, whether you are 25 or 65, you stand to benefit from hiring a professional investment advisor to help you navigate your portfolio and retirement planning. Here are 3 things a good investment advisor can do for you.
Manage Your Portfolio Daily so You Don't Have To
Unless you went to school for finance or became naturally adept at picking stocks on your own, the chances are good that most of the commentary from the talking heads on financial TV shows sounds like a foreign language to you. One of the best reasons to hire a permanent investment advisor for your retirement is that you don't have to try and keep track of or make sense of the daily fluctuations of the market. If something comes up that needs immediate action, your advisor will call and let you know.
Get the Proper Amount of Diversification for the Right Age
If you're young, you've likely heard that investing for the long term is the best strategy when you are in your 20s and 30s. But as you get older, it may be a good idea to move some of that money that is tied up in long-term mutual funds and move them to more short-term investments that are more easily accessible in a pinch. As you age, your advisor could help you reallocate some of your portfolio into CDs, gold, or even just a standard money market account to ensure you have money guaranteed for your retirement. Trying to figure out the right kind of diversification on your own is just an extra hassle that you don't have to deal with if you get professional help.
Get Help for the Actual Retirement Too
A good investment and retirement planning advisor won't just get you to retirement in good shape, they can also help you come up with a budget for your golden years that will ensure you and your family can live comfortably for as long as you want. It can really help to have someone else setting a specific budget for you during this critical time of your life.
If you don't yet have a professional financial advisor, reach out to a local investment firm today for more information. The right advisor will help you keep your portfolio diversified, keep you on budget once you hit retirement, and will be able to do all of this without taking out too much time from your own work or your family.