Ask Terry Questions Financial Planner

Financial Planner

By Terry Savage on January 06, 2024 | Financial Planning / Retirement

I’m retired and 75 plus in age. I have a good income and assets, no spouse or children. I’ve never used a financial planner is there any reason why I should have one now?

Terry Says

A planner will ask these questions. If you can answer yes to all of them, you probably don’t need a planner:
Do you have a current will — or better yet, a Revocable Living Trust.
Did you transfer all your titled assets, including your house and your non-retirement bank accounts into the name of the Revocable Living Trust.
Do you have a healthcare power of attorney and end-of-life directive called a Living Will.
Have you checked the beneficiaries of all your retirement accounts.
Are you correctly calculating your RMDs from all retirement accounts, now that you are over age 73.
Do you have long term care insurance — to cover costs that could destroy your plan
Have you done a retirement income/withdrawal scenario that covers you until age 95

So what do you think? Do you need a fee-only FIDUCIARY financial planner?
If so, read this:

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