Setting Up Your Financial Future
Merit Financial Advisors Offers Wealth Management Tips.
bluDoor Studios
Tony Pitzer, CFP® | Wealth Manager and Partner
What steps should I take to prepare for my retirement?
First of all, take care of your spouse or partner — retirement is a big change for them as well. Secondly, understand that your financial life is going to feel different. You will not be getting those weekly or bi-weekly paychecks, so you’ll need a plan to replace that income. Thirdly, stay connected. I have seen so many retirees disconnect — they have so much time and become paralyzed by it all. Stay connected with friends and family and enjoy the fruits of your labor.
How should I invest my money?
My mother never trusted people who didn’t eat their own cooking, so be sure your advisor is invested in the products they are recommending for you. If they are staying away from an investment but recommending it for you, find out why and be sure you understand. If you don’t know what part of your goals the investment recommendation satisfies, you can’t feel like all of your financial needs will be addressed.
How do I set my family up financially when I pass away?
Preparing your family for anyone’s passing is emotional. When it comes to finances, host a family meeting and get your loved ones comfortable with an advisor and understanding how planning works. You don’t have to get into the specifics about how much you have, but be sure to share your wishes for any assets you want to leave behind with your loved ones. Also, have them documented in your estate plan.
What does an initial consultation look like?
We ask clients a lot of questions about their family, their loved ones, their fears, their concerns — all of the things you typically don’t talk about at parties. No one is going to care more about your money than you, so you want an advisor who will answer all of your questions and will even ask the questions you should ask.
Securities offered through LPL Financial, member FINRA/SIPC. Investment advice offered through Merit Financial Group, LLC, an SEC-registered investment adviser. Merit Financial Group, LLC and Merit Financial Advisors are separate entities from LPL Financial.
