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Baby Boomers need to ask Financial Advisers these 10 Questions

Jul 15, 2008
If you are a Baby Boomer AND in or near retirement your Financial Advisor should be advising you on how to protect your Nest Egg in Retirement. If they are not actively working with you to control your Nest Egg you could be in serious trouble. Did your financial planner:

Make sure you understand the key difference between accumulating and distributing a nest egg.

Help you set up a 5 year income ladder.

Advise you to take profits in good times and save that money for when the markets are down?

Talk about how to make your nest egg last you 30 years with careful planning?

Explain the effect of fees, inflation, taxes and pension withdrawal on your nest egg over time?

Set up a stop loss system for your equity investments to avoid large losses.

Discuss with your accountant how to minimize taxes.

Separate your volatile stock market investments from your relatively safe fixed interest investments.

Warned you about the sub prime problems and how you could have minimized the impact from it.

If the answers to these questions is no then you should consider finding another financial adviser. You need soemone who is able to transition you and your nest egg to the distribution phase and help you protect your capital.

Yout financial planner should be able to show you where his investemenets are too.

You need your financial planner to actively maange your nest egg and help you preserve it for the long term. If this is not happening you should consider replacing them.
About the Author
Author: David Bates is a Baby Boomer in retirement and can show you how to preserve your nest egg. To Preserve Your Nest Egg and get lots of free advice to learn how to avoid large losses in retirement
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