It’s amazing how closely our expectations of something can dictate how pleased we are with it. Whether it’s a service, product, or experience, your initial level of expectation will play a big role in your overall satisfaction. So what can you do to make sure your expectations for retirement are realistic?
One of the easiest ways to eliminate unrealistic expectations is to do your homework. The Internet has made it super easy to research almost anything. From company websites to consumer reviews, you can get a better understanding of your subject matter by spending a little time online.
Another thing you can do is create a list of questions to ask before making a final decision. The more specific you get with your questions, the less you leave to chance. Let’s say you had a leak in your shower and were going to hire a plumber to make the repair. Besides the price of the job, you would probably also want to know if the repair would include returning your shower to its original condition, or if it will be necessary to bring in a different contractor to fix the wall and replace the tile. Without getting that question answered, you could be setting yourself up for a disappointing outcome.
The same thorough vetting process should hold true when selecting a financial advisor. You should discuss the expectations you would have as one of their clients and see if it matches up to their service deliverables. Even something as simple as how frequently you’d like to be communicated with could make a big difference in your level of satisfaction. An important decision like selecting a financial advisor isn’t something to take lightly, so make sure to do your homework.
Having thoughtful discussions about goals and expectations is something we do early on in our process. Offering complimentary, no-obligation meetings is a great way for us to learn about your needs, and it helps in our quest to always exceed your expectations. These meetings should be about more than money; they should be about uncovering what’s important to you. So make sure you’re sitting across the table from someone who understands that and takes the time to get to know you.
A simple lesson that was passed down to me many years ago and still guides me today was, “Say what you do and do what you say.” When you find someone who lives by that philosophy, chances are your expectations and overall satisfaction will be closely aligned.
Securities and advisory services offered through Royal Alliance Associates, Inc. (RAA), member FINRA/ SIPC. RAA is separately owned and other entities and/or marketing names, products or services referenced here are independent of RAA. RAA is not affiliated with Lone Beacon
Neither the named representative nor the named Broker/Dealer or Investment Advisor gives tax or legal advice.
Fixed index annuities are designed to meet long-term needs for retirement income. Early withdrawals may result in loss of principal and credited interest due to surrender charges. Distributions may be subject to ordinary income tax and, if taken prior to age 59 ½, an additional 10% federal tax. An income rider or benefit (sometimes called Guaranteed Lifetime Withdrawal Benefits, or GLWB) is an additional feature available with some annuities and generally optional and come with additional cost. Income benefits are designed to provide income options above and beyond the standard annuitization or free withdrawal features in annuities. All contract gains beyond the CAP rate are surrendered to the insurance company to pay for the expense of the product.
The views expressed are not necessarily the opinion of Royal Alliance Associates Inc, and should not be construed directly or indirectly, as an offer to buy or sell any securities mentioned herein. Individual circumstances vary. Investing is subject to risks including loss of principal invested. No strategy can assure a profit against loss.