4 simple tips to give clients about planning for retirement

July 29, 2016 by Tony Bevan

About the author

Tony Bevan

Vice president, enterprise accounts

Tony has over 15 years of software development experience in the financial services industry. He is knowledgeable in all aspects of product development and implementation at Advicent.

Helping clients plan for retirement

Some say a picture is worth a thousand words. Can you picture what your retirement is going to look like? Pictures allow you to dream about the possibilities that might be, but most people quickly realize that their retirement goal “picture” is more than simply a static representation of a dream. It is a very difficult goal that requires attention – both early and often. There are four simple tips advisors should give clients to make that picture become reality:

1. “Create a financial plan with your advisor.”

Creating a financial plan will help clients understand where they are today and what options are available. As an advisor, you are there to help clients navigate the complicated waters of investment and tax management while keeping their best interest in mind.

2. “Track your progress towards your goal.”

Make sure clients know the importance of tracking the progress of their goals knowing time is their friend (the more time they spend saving, the better off they will be). Calm their fears so they do not panic when there is a sudden drop in the market. They need to know it is about long-term investing and not about the daily ups and down of the market.

3. “Make adjustments along the way.”

Curveballs are continuously thrown at us along our journey of life. Yes, many do cost us more along the way. Like the unexpected late-in-life baby, mid-life crisis muscle car purchase, and the list goes on. Others may be a large cash inflow from an inheritance or, yes, even a lottery win.

4. “Breathe, you will get there!”

By creating a financial plan with your advisor by using one of our industry leading financial planning products and our recent release of our NaviPlan® client portal, clients now have the ability to track the progress of their long-term retirement goals at their fingertips without having to constantly worry about a dip in the market that happened yesterday. They will have more confidence that their retirement picture will become reality.

A picture is a snapshot at a current point in time. An interactive client portal such as Narrator® Clients allows clients to see snapshots as their goals take shape and become reality. And yes, remember to tell them to breathe, they will enjoy retirement when they get there if they plan appropriately.

Click here to learn more about the industry leading financial technology solutions offered by Advicent, or call (855) 885-7526 to speak with an Advicent representative.