The last 30-40 years of our clients working lives have been spent managing family finances, typically with two paychecks a month. Upon retirement, theyll speak to the HR department at their office and fill out distribution papers for their 401(k) or profit sharing plan. These funds, along with Social Security, will replace their customary paychecks to cover their living expenses for the rest of their life.
As financial services professionals, we have to do our due diligence to help our clients optimize their portfolio in their golden years and safeguard them from financial mistakes. Most cant afford any lapse in retirement because they are no longer working or making contributions to their retirement plan.
