COMMON QUESTIONS FOR THE RETIREMENT LADY

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By Melanie Hasty-Grant

Common Questions for The Retirement Lady

Nothing thrills me more than a new prospective client coming in to their first appointment with one of my Money Maven (Retirement Lady) articles in hand and talking about how much I have helped them. Wow! What a huge compliment. It warms my heart because I am passionate about helping people with their money and I am committed to their success.

I believe that this is one of the things I am called here on this earth to do.

There are a couple of common themes of questions that folks usually have in that free initial appointment. I thought I would address them here for others who may be wondering the same thing.

Question #1… Often folks want to know if they are the type of client that we take on.

Just so you know, my clients are from varying walks of life. They are Mr. and Mrs. Smith that have worked hard for the last 37 years at XYZ Company that are nearing retirement and need to rollover their 401k’s and pensions. They are 40-60 year old business owners, doctors, engineers, secretaries, dental assistants, nurses who have been saving for 20 to 30 years and have their investments all over the place (from old 401k’s to investment accounts at other firms). They need help figuring out what to do, if they are saving enough, and what else they need to be doing, etc. They are referrals from CPA’s and attorneys that are coming to me after a divorce or death of a loved one because they have no idea what they have and even less what to do with it.

Occasionally, I get someone really new to the investment world who is in their 20’s and very motivated. That is amazing too! No, not all of my clients are millionaires. Some are, but most are regular everyday folks who have between 100-250 thousand and have been saving through their 401k’s at work or have investment accounts at other places that they aren’t getting much help with. They are “millionaires in training” that understand it is about working for it and not wishing for it. They are not waiting for things to happen. They are going out and making them happen. And lastly, they value what we bring to the table. They understand that in order to potentially grow their money they should consider investing in it.

The other common question we often get relates to what services we provide.

How does all this work? I would say 90% of the new folks who come to me want us to manage their investments. They want to bring over accounts or 401k’s from other places and have us manage and invest them. We do an initial financial plan at no charge for them because we have to develop a roadmap for where we are going and how we will get there in order to effectively manage their investments when they come over. The other 10% are looking for a fee for advice type of arrangement. They want to pay a set fee for our time and have us provide a financial plan or offer investment advice. We can do both but the latter is less utilized because with the volatile market environment, investment advice today is likely to change rapidly and also involves out-of-pocket expense.

Remember, you’ve got to take the bull by the horns!

You’ve got to start. I promise you that you will be glad you did.

For more information go to www.waterstonewealth.com.

Melanie Hasty-Grant, Experienced Licensed Professional Counselor and Managing Principal at Waterstone Private Wealth Management. Cetera Advisor Networks LLC.  A registered investment advisor. Member FINRA/SIPC.

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