Well-educated, but not when it comes to retirement

I am often amazed at how bright, well-educated, wealthy professionals have little notion of what should be considered as part of their retirement and future financial planning.

recently a friend of mine in his late 50s told me he was retiring in about a year from his position as senior manager with a fairly large regional company. He said, "Joe, you're a CPA. Can you recommend someone who can help advise and manage my investments for retirement?"

I I explained that it is not so simple. I said, "By opening, you need a caring counselor who can meet all your financial needs and how they mesh with your lifestyle, your family and your dreams. It is not only on the main management and provide an income stream. You must ensure you do not outlive your assets, your spouse and family are protected, you can handle a situation of long-term care, you can leave a legacy, and frankly, you can load the bases of bucket list you and your spouse have set for your retirement years. "

I told him that I help him find a counselor that he and his spouse would feel comfortable with and with whom he could develop a relationship based on trust. Meanwhile, I gave him a few websites to browse for information. I told him an absolute "must check" was www.lifehappens.org retirees and pre-section / retirees. People really need some basic understanding of the options to consider before you even start the retirement planning process.