An onslaught of retiring baby boomers; the uncertain duration of Social Security funding; difficulty with workplace retirement accounts like 401(k)s—even if these factors were stronger than they are now, you’d still have a heavy burden in managing your finances during retirement, says financial planner Carl Edwards.
“Financial planning for retirement has always been a daunting prospect; the current landscape simply makes your preparation that much more crucial in using your assets well,” says Edwards, a highly credentialed consultant and owner of C.E. Wealth Group, (http://www.cewealth.com). “Many advisors and clients rely too much on single product lines. This misuse often gives products and the financial industry in general a bad name. Advisors who are restricted in the types of financial products they can offer or understand may not provide the best advice. Independent and credentialed planners, on the other hand, don’t have their hands tied in what they can offer clients and may provide better advice.”
Edwards reviews seven essential points that everyone should know regarding retirement planning.