In this episode, Roger shares how to find the right retirement planner, what to look for when interviewing advisors, and how to evaluate the value they bring. Tanya Nichols joins him to answer listener questions about financial advisors, retirement income, investment accounts, and Social Security.

OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN

• (00:00) Roger shares his concerns about heart health after several friends experience cardiac issues and explains how consulting a specialist helped him determine the appropriate next steps. He connects the experience to the importance of finding a retirement planner who specializes in your needs.

RETIREMENT TOOLKIT: HOW TO CHOOSE A RETIREMENT PLANNER

• (05:30) Roger explains why working with a retirement planning specialist matters and how to evaluate potential advisors based on connection, competence, consistency, qualifications, and the value they provide.
• (14:41) Roger discusses what to look for when evaluating potential retirement planners, including their fee structure, planning process, and focus on clients’ life goals.
• (18:40) Roger shares questions to ask when interviewing potential retirement planners to assess their approach, experience, and fit for your needs.

LISTENER QUESTIONS

• (26:24) Kurt asks how to begin developing a retirement strategy, including deciding whether and how to hire a financial advisor.
• (32:44) Mike asks how to bridge the years between early retirement, Medicare, and Social Security while making tax-efficient financial decisions.
• (38:24) A listener asks whether to continue working with an advisor who manages individual stocks, Roth conversions, cash reserves, and tax planning or switch to a flat-fee planner.
• (43:12) Greg asks whether keeping retirement accounts at both Vanguard and Fidelity provides worthwhile protection or whether consolidating would simplify things.
• (45:20) Todd asks how Social Security benefit estimates account for inflation and COLAs, and whether the estimates reflect today's dollars.
• (49:40) Andrew asks about spousal Social Security benefits for a wife without her own earnings record and whether delaying his benefits until age 70 increases her benefit.

SMART SPRINT

• (52:18) Download the How to Choose a Retirement Planner worksheet and use it to evaluate your current advisor, review your own retirement plan, or interview potential planners.

ON THE BOOKSHELF

• (54:06) Kevin Lyles reviews Thinking, Fast and Slow by Daniel Kahneman and explores how recognizing biases can improve decision-making.

REFERENCES

• Retirement Answer Man FREE Resource Page
• Roger Whitney on YouTube
• Submit a Question for Roger
• Rock Retirement Club
• Sign up for the Noodle!
• Thinking, Fast and Slow by Daniel Kahneman